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8
April
2016

Zaporizhstal pulling for its territory

The Arbitration Court of the Rostov Region refused the claims of the Ukrainian steel plant Zaporizhstal in its lawsuit against Sberbank of Russia PJSC. The combine was intending to challenge a point in the guarantee contract for loans issued by the bank to the Rostov Coal Company LLC for the construction of the Bystryanskaya 1-2 Mine. Earlier, the court satisfied three claims of Sberbank, jointly and severely, to recover $84.2 million from Zaporizhstal and five of its affiliated companies of the Don Region, who acted as guarantors for the Rostov Coal Company LLC.

Maxim Grigoryev, Partner, Head of Southern directorate, Head of special projects
Kommersant (Rostov)
4
April
2016

Restricting the rights of minority shareholders will deprive them of the possibilities of challenging transactions

The Ministry of Economic Development has prepared amendments to the law “On Joint Stock Companies”, aimed not only at simplifying the approval of related party transactions, but also to make the challenging of transactions by shareholders more difficult. Experts believe that this is a very controversial initiative, because it exacerbates the already unenviable position of minority shareholders.

Pravo.ru
31
March
2016

Unfinished construction to be withdrawn from competition

A group defrauded real estate investors is proposing changes be made to regional legislation – those builders, who shall undertake to complete unfinished residential apartment buildings, should be given land for their other projects on favourable terms. Such a proposal was made ​​during a discussion on the prospects for finishing the construction of residential apartment buildings abandoned by the Yunizh Story Company after it declared bankruptcy.

Kommersant (Volgograd)
24
March
2016

Competition will be evaluated

The Federal Antimonopoly Service (FAS) has asked the country’s largest railway operators for information about their activities. According to the letter, the pretext was to analyse the state of competition in the railway fright car market for the years 2014-2015.

Gudok
18
March
2016

FAS has developed a draft bill on compulsory licensing

This federal agency has created a draft federal bill “On Amendments to the Federal Law – On Protection of Competition and Article 1362 of the Civil Code of the Russian Federation”. This document provides for compulsory licensing of certain goods.

Pharmaceutical Bulletin
16
March
2016

Disclosure by companies of their real owners will require development of new legal mechanisms

The Government has sent for review to the State Duma a draft bill that would require companies to collect, store, and update information about their ultimate owners, and ten, if necessary, to provide this info upon request to government agencies. For failure to fulfil these requirements, they could face fines of up to half a million roubles. However, companies cannot always tell who their beneficiaries really are – say the experts at Pravo.ru, pointing out the weaknesses of this initiative. These weaknesses include complex ownership chains, legal entities registered offshore, and finally, legal restrictions present in other countries – all these can become obstacles to achieving the intended goals of the government, without an additional arsenal of stratagems or new amendments to legislation.

Pravo.ru
14
March
2016

Mikhail Paramonov stretching out his bankruptcy

Former owner of TagAZ avoided filing for bankruptcy under the simplified procedure, and secured breathing space to prepare for the sale of his property

Gorod N
10
March
2016

Pride and Prejudice

FAS Russia considered the behaviour of the Ministry of Health of the Russian Federation as not meeting the requirements of the Law “On Protection of Competition” and issued a warning to the agency to eliminate these violations. According to the FAS, the Ministry of Health is too zealous when it comes to making changes in the state register of maximum permissible selling prices, thereby preventing adequate work of pharmaceutical companies.

Pharmaceutical Bulletin
8
April
2016

"... For two weeks, the Bank has not been crediting money, without giving any reasons for this. What to do?"

In the company, in which our reader works, arose a conflict with the bank. The buyer paid for the goods, but the company has not received the money. The bank believes that it has the right to keep this money on their correspondent account for 40 days, without explaining the reasons for this. The bankers and independent experts discuss if this is legal.

Сollective of authors, VEGAS LEX
Accounting. Taxes. Law
1
April
2016

In passing

As the Pharmaceutical Bulletin has learned, the Federal Tax Service (FTS) drew the attention of its territorial departments to the inadmissibility of artificial fragmentation of businesses, leading to the creation of additional tax benefits. This follows from a letter sent by the federal agency to its regional offices, in which was described in detail the formal criteria for dividing a business.

Yuriy Ivanov, Head of Tax practice
Pharmaceutical Bulletin
29
March
2016

Consideration paid can be returned – a new word from the Supreme Court on business lending

Court Collegium for Civil Cases corrected the courts, which were denying the borrower the right to recalculate the interest upon early repayment of the loan.
Victor Petrov, Partner, Head of Litigation practice
Legal.Report
22
March
2016

Experts: greater control over public procurement is not a panacea for corruption

During the spring session, the State Duma will review three draft bills that should transition state procurement processes into electronic auctions, as well as minimize cases where goods are acquired from a single supplier, and the possibility of failure to conclude a contract after a supplier has been chosen. These draft bills were met with resistance on the part of major state-owned companies. Experts are also ambivalent about the possible adoption of these bills – the transition to electronic trading on the background of an economic crisis and a budget deficit, can hardly be considered a panacea.
Pravo.ru
18
March
2016

FAS will allow the court to sell a patent without the consent of the copyright owner

The Federal Antimonopoly Service has come up with a punishment for abusing the dominant position of rights holders. Using new amendments to the RF Civil Code, they propose to punish the forced transfer of a license to use an invention. The right to appeal to the court will be given only to the agency itself and the company that is ready to produce similar goods. The adoption of this bill will of course have an impact on the pharmaceuticals sector – what this impact will be, the lawyers are working on right now.

Pravo.ru
15
March
2016

Bad compromise

The Competition Authority intends to be especially tough on persistent violators of the law, and actively cooperate with law enforcement authorities. At the same time, it will work on reaching peaceful agreements with companies voluntarily pleading guilty and prepared to change their behaviour in the market. However, experts warn that, despite all the external attractiveness of this idea, companies should seriously weigh the prospects of such peaceful agreements.

Pharmaceutical Bulletin
14
March
2016

Testimony of employees is not sufficient proof that wages were paid illegally in cash

Inspectors accused a company of paying grey (undeclared) salaries, referring to the testimony of former employees. The company claimed that it paid all salaries officially.

Сollective of authors, VEGAS LEX
Glavbukh
9
March
2016

Devaluation of the rouble has created a legal conflict: what threatens leasing disputes

Due to the devaluation of the rouble, courts are charging companies, for foreign currency contracts, amounts that are in excess of the payments received by them. Lessees have not failed to take advantage of this situation: they refuse to pay for the equipment and to return it, and then seek to recover part of the lease payments, which due to the market value of the object, are greater than their initial value – creating an unjust enrichment of the lessor. The return of the overpaid amount in foreign currency, the lessees demand at the current exchange rate. These claims are based on the position of the plenum of the Supreme Arbitration Court, formulated in 2014. Lawyers discuss what this precedent threatens.

Pravo.ru
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