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9
December

Mikheev is no longer a competitor of Abramovich

The Arbitration Court declared Russian State Duma Parliamentarian Oleg Mikheev and his wife Tatiana bankrupt. In our region, this is the first time that an individual has been declared bankrupt. It is hard to believe that, seven years ago, Oleg Mikheev was listed among the Top-20 richest real estate magnates, and shares of his Diamant GC were selling higher than those of Millhouse Capital run by Roman Abramovich.

Volgograd Pravda.Ru
7
December

Bankruptcy without “Sistema”

Monitoring of the bankruptcy of Sigma Capital Partners LLC, in the near future, will be transferred almost entirely to the Sulby Holdings Corp, which in 2010, the owner of the SMARTS Company Gennady Kiryushin called “friendly”. Sulby Holdings Corp had bought up all the rights of demand to all debts issued by creditors to Sigma Company, except for moneys owed to the taxation administration. The total amount of purchased claims amounts to about 7 billion roubles. We should note that the SMARTS Company and Sigma have been engaged in a court battle for the past ten years. Sigma is holding as collateral a block of shares in the SMARTS Company, and it was to gain control of this latter, according to experts, that all these measures had been taken.

Kommersant (Samara)
3
December

Pravo.Ru-300: Among strangers – why Russian law firms do not lead in international rankings

In creating the first national ranking of law firms – the Pravo.Ru-300, analysts discovered a curious fact – the results of their market research of Russian law firms gave a very different picture from that painted by international rating agencies, where the traditional leaders are the ILFs (International Law Firms), while the RULFs (Russian Law Firms) are given much more modest spots. And indeed, many successful law practices were not even mentioned in these ratings. The editorial staff at Pravo.Ru decided to look into this matter and make a detailed investigation of the procedures used when developing international rankings.

Alexander Sitnikov, Managing partner
Pravo.ru
1
December

Are contributions to be paid on compensation for the travel

“We pay employees compensation for travel. These amounts are small, and so, as not to argue with the SIF Fund about taxable benefits, we calculated contributions based on these, and included this in the calculation of earnings for benefits. Now we have asked for reimbursement of benefits, but the Social Insurance Fund has refused us. And all because of these compensations. The fund requires us to use benefits that we do not need. And says that we have no right to pay contributions on compensation. Now we have to recalculate everything, redo the financial reports, etc. Is there another way out?” 

Accounting. Taxes. Law
27
November

Individuals can now go bankrupt

A law on personal bankruptcy has come into force in Russia, and since that time, already in the Samara Region the Arbitration Court has received about a hundred requests for the bankruptcy of individuals, with the majority of these appeals coming from the debtors themselves. Although several petitions against individuals were also launched by the banks. However, according to some experts, credit institutions, for the time being, have taken a wait-and-see attitude. In general, representatives of the banking sector, questioned by Kommersant-Bank, and lawyers have positive opinions of this new law, although they have noted that there are some controversial points, and the document is still subject to new amendments.

Kommersant (Samara)
20
November

Experts warn about the “pitfalls” of the law on taking away a business from debtors

The Russian Ministry of Economic Development is preparing draft amendments to the bankruptcy law, which would give creditors the right to take over a corporate debtor by the forced conversion of their debts into shares, writes the newspaper Vedomosti, citing three officials and businessmen involved in the discussion of this document.

Pravo.ru
17
November

Without discrimination

FAS explained the procedure for the formation of selling prices for Vital and Essential Drugs (VED), depending on the applicable taxation system.

Pharmaceutical Bulletin
11
November

“... The bank refused to open an account, because we do not have computers in the office ...”

The bankers came to the office to check whether a company was really located at the stated address. And when they found that there were no computers in the office, they refused to open the account. Allegedly without computers, a company’s activities are considered as fictitious. Bankers and independent experts advise on how to solve this problem.

Сollective of authors, VEGAS LEX
Accounting. Taxes. Law
7
December

The claim to have Mikhail Paramonov declared bankrupt will be considered in December

The Arbitration Court of Rostov Region has accepted for consideration the claim to declare bankrupt Mikhail Paramonov, former owner of TagAZ. The claim was by filed by a subsidiary of Sberbank – the Southern Automobile Group. Mr. Paramonov acted as the guarantor for the loans taken out by this manufacturing plant, and the plaintiff is now trying to recover more than 4 billion roubles from the entrepreneur. A lawyer in the case noted that the defendant's residency status being outside the country could delay this case, but if in the course of the trial, it is proven that Mikhail Paramonov has been evading repayment, he may be declared as bankrupt with unpaid debts.

Gorod N
3
December

Oleg Mikheev enters insolvency

Yesterday, the Arbitration Court of the Volgograd Region began bankruptcy proceedings against the regional leader of the Fair Russia Party and State Duma parliamentarian Oleg Mikheev. The claim to have Mr. Mikheev declared bankrupt was filed with the regional arbitration court by Zarina LLC. The total amount of claims against the parliamentarian, according to the Court documents, could reach 9.5 billion roubles. According to the experts, Mr. Mikheev will attempt to “write of” the majority of his debts.

Kommersant (Volgograd)
2
December

Mikheev couple agrees on bankruptcy

The Arbitration Court of the Volgograd Region has begun consideration on merits of the bankruptcy case of State Duma parliamentarian Oleg Mikheev and continues its consideration of the bankruptcy case of his wife Tatiana.

Volgograd Pravda.Ru
27
November

Prosecutor’s office intercedes for Ministry of Construction

The regional prosecutor’s office has gotten involved in the dispute between the residents of a building on Solnechnaya Street in Samara and the company Samara Monolith LLC, as well as the simultaneously developing dispute between the Samara City Administration and the Regional Ministry of Construction. In April, the Regional Ministry of Construction sent a demand that the City Administration cancel the construction permits for this residential building. The City Administration is trying to appeal the decision of the Ministry of Construction in arbitration court, but so far without success. The Samara Prosecutor’s Office has now asked the District Court to force the city authorities fulfil the demands of the Ministry of Construction and stop the construction work.

Сollective of authors, VEGAS LEX
Kommersant (Samara)
24
November

Salaries must be paid, even if a company is declared bankrupt

The company was declared bankrupt and is now at the stage of bankruptcy proceedings. However, not all employees have been laid off, and some work is still being performed, but due to a shortage of cash, the wages are being paid irregularly. Should the employer have to pay compensation for salaries that went into arrears during the period of bankruptcy proceedings, or just a percentage, in accordance with Article 236 of the Russian Labour Code, can be paid at the time of final settlement with the staff upon conclusion of the bankruptcy proceedings? – Asks Maria Rotanova via the website tspor.ru.

Trudovye Spory (Labour disputes)
18
November

The number of private concession initiatives has increased several times

The number of private concession initiatives submitted last week increased dramatically. If since the adoption of amendments to the Federal Law “On Concession Agreements”, weekly only a few proposals were presented by investors, then this week, 9–13 November 2015, suddenly 22 concession initiatives were registered. All of these involve the housing and public utilities sector, mostly being heat supply facilities.

Сollective of authors, VEGAS LEX
Unified information system of PPPs in Russia
13
November

Medications will become interchangeable

The Russian government approved the procedure for determining the interchangeability of drugs for medical use. The corresponding decree was signed by Prime Minister Dmitry Medvedev. Some industry representatives did not see in this document anything that the market had been expecting – a decision on interchangeability, and consider it just the next in a series of “guidelines”. However, the FAS has firmly stated that no other regulations on interchangeability are foreseen for the future.

Pharmaceutical Bulletin
11
November

Government to give big business a new VAT exemption

The threshold for the preferential procedure for VAT refunds will drop by one third – from 10 to 7 billion roubles. This is a hidden anti-crisis measure, and also can help Russia to rise in the Doing Business Ranking.

RBC
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