Insights

Interfax cites EPAM statement on Anatoly Karpov nomination as World Chess Federation president

A Russian law firm said Anatoly Karpov, former world chess champion, nomination as a candidate for World Chess Federation (FIDE) president is illegal.

EPAM advises on €595m energy deal

The energy group of Dutch firm Nauta Dutilh was lead counsel for MISC Berhad, the shipping subsidiary of Malaysia's national oil company Petronas, in its acquisition of a 50% stake in Vitol Tank Terminals International (VTTI) for $735m (€595m) in cash.

The Moscow Times features Dmitry Stepanov comments on a draft legislation against Russian-style corporate raiders

Kremlin-drafted legislation aimed against Russian-style corporate raiders — unscrupulous businesspeople who seize property through dubious registrations and share emissions — will come up for a first reading in the State Duma. But the legislation, which introduces harsh penalties for raiders, might also backfire and hurt rightful shareholders because of deep-rooted corruption, legal experts said.

The Moscow Times features Grigory Chernyshov comments on a bill that would fight circular ownership structures by depriving a company's subsidiaries of voting rights and dividends from owning shares in the parent firm

State Duma deputies have introduced a bill that would fight circular ownership structures by depriving a company's subsidiaries of voting rights and dividends from owning shares in the parent firm, although experts said the proposals went too far. The amendments limiting the use of cross holdings were submitted by four Duma committee chairmen from United Russia. When subsidiaries buy the parent company's shares, managers are able to control the firm to shareholders' detriment and the company becomes less transparent, the deputies wrote in explanatory notes to the bill. There are also risks of conflicts of interests, Viktor Pleskachevsky, a co-author of the bill and chairman of the Property Committee said.

TopLegal publishes Dmitry Afanasiev’s commentary on the law firm investment plan

Despite challenging economic and political conditions, Moscow law firms said they have not only stuck to their investment plans during the crisis but also intend to expand further in the near future.

The Moscow Times: Natalia Korostelyova comments on the FAS decision to sue over strategic sector violations

The Federal Anti-Monopoly Service on Monday accused several Russian and foreign companies of flouting the law for investing in strategic industries and said it would retaliate in court for the first time since the rules took effect almost two years ago.

Dmitry Stepanov commented for the Moscow Times on the state receiving a privileged share in Sakhalin Energy

Immediately after Gazprom bought out international companies' stakes in Sakhalin-2, the state received a privileged share in Sakhalin Energy, which paid a $1.35 billion dividend.

Dmitry Stepanov commented for the Moscow Times on recognition of the Supreme Arbitration Court’s right to set legal guidelines

The Constitutional Court has decided that the Supreme Arbitration Court has the right to set legal guidelines, not just follow the law — a move that lawyers say is the first step toward a precedent-based system of law.

EPAM represents Yelena Novitskaya in the European Court of Human Rights, Bloomberg reports

OAO Severstal billionaire Alexei Mordashov’s ex-wife is seeking $500 million at the European Court of Human Rights because a judge in the steelmaker’s hometown ordered her to pay $7.2 million for challenging their divorce agreement.

Top Legal International: CIS network set for three new members

The CIS Leading Counsel Network (LCN), which launched last year and is spearheaded by Russian firm EPAM, is seeking three new members.