13 May 2014
Legal alert: Recent Amendments to the Russian Civil Code: the New Regulation of Legal Entities

On May 7, 2014 high-importance amendments were introduced to the Russian Civil Code with regard to legal entities (the Law). The amendments will take effect on September 1, 2014.

Key amendments:

  1. New division into public and non-public companies shall be introduced
  2. Controller’s liability shall be introduced
  3. Management shall be protected from liability
  4. Two-key principle shall be allowed
  5. Legal regulation of shareholders’ agreements has been itemized
  6. Major changes have been introduced to provisions on reorganization and winding-up of legal entities
  7. Grounds for a parent company’s liability for its subsidiary’s debts have been specified

Please follow the link to find the full text of the alert.


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