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Extending special anti-crisis measures in corporate law
On 25 December 2023, the President of the Russian Federation signed Federal Law No. 625-FZ of 25 December 2023 “On Amending Article 98 of the Federal Law ‘On State Control (Supervision) and Municipal Control (Supervision) in the Russian Federation’ and Certain Legislative Acts of the Russian Federation”.
Investing in Uzbekistan
Our team authored a guide on investing in Uzbekistan which includes guidance with regard to corporate, finance, tax and real estate matters. Follow this link to access your copy.
New compensation procedure for damage done to Russia and the Russian Central Bank by US actions
On 23 May 2024, President Putin signed Decree No. 442 “On the Special Procedure to Compensate for Damage Caused to the Russian Federation and the Central Bank of the Russian Federation as a Result of Unfriendly Actions by the United States of America.”
New procedure for allocating shares in the exclusive right to intellectual property
The recently introduced draft law that has just been introduced in the State Duma of the Russian Federation proposes to provide for the possibility of allocating shares in the exclusive right to intellectual property assets and to create a mechanism for the disposal of such shares. These amendments, if enacted, may have a significant impact on the structuring of joint ventures and on the early phases of structuring relationships between the founders of technology companies. They may also affect the structuring of M&A transactions where intellectual property plays a major role.
New procedure for distributing profit (dividends) to “unfriendly” members (shareholders) of Russian companies
The Subcommission of the Government Commission for Control over Foreign Investment in the Russian Federation established that foreign “unfriendly” shareholders may be entitled to receive profits of Russian companies in circumvention of the special procedure and without the approval of the Ministry of Finance of Russia, subject to certain conditions. Read more in our legal update.
New review of the Russian Supreme Court on corporate disputes on the provision of information by companies
The Presidium of the Supreme Court of the Russian Federation approved the Summary of Judicial Practice on Corporate Disputes on the Provision of Information by Companies. In general, the Review reflects the positions previously set out in the clarifications of the Higher Arbitrazh Court of the Russian Federation. However, it also considers the issue of providing information to persons controlling companies, touches upon the criteria of good faith of participants/shareholders when requesting documents and information from a company, and assesses the provisions of confidentiality agreements.