The Russian Government has introduced a radical new privatization program to invigorate the country’s economy. Although foreign investment is clearly an objective, the protection of property interests held by foreigners remains a concern for lawyers in Moscow.
A film on EPAM is posted on the The Lawyer magazine website.
Reflections by Jerome J. Shestack on Human Rights Day published on the ABA website
Volatility of the Russian market - which saw its gross domestic product (GDP)contract by as much as 7.9% in 2009 but spring back to a growth of 5.4% this year – has seen it become both adversary and temptress for the law firms practicing in the market.
Russia now has virtually no speculative projects in the segment of refrigerated warehouses. They are typically expensive to build, there are fewer chances to lease them, while they beget many specific requirements. Experts say this segment of warehouses will come back to the market as soon as the market stabilizes.
Grigory Chernyshov and Natalia Korosteleva authored the Russia Chapter of The International Comparative Legal Guide to: Competition Litigation 2011 (3rd Edition)
Mikhail Kazantsev and Victoria Burkovskaya authored the Russia chapter of Comparative Summary of Anti-Corruption Laws in the CIS Economic Region (1st edition).
One of the recent actions of Russia's Government to support the housing program was to make VneshEconomBank issue a 40-billion-ruble credit for the Agency for Housing Mortgage Lending. According to the Stimulus Program, 2 million sq m of economy class residential real estate will be built. The program mainly targets projects in Russia's regions, as well as some projects near Moscow.
Evgeny Raschevsky and Olga Vishnevskaya authored the Russian chapter for the International Commercial Arbitration Practice: 21st Century Perspectives. This collective work, co-edited by Horacio A. Grigera Naón and Paul E. Mason, captures the development of ICA from different perspectives and uniquely brings together the ideas, suggestions and perspectives of in-house counsel as the most important users of ICA, along with outside counsel, arbitrators themselves, and major arbitration organizations who all help provide the service.
Russian independent EPAM has expanded its tax practice, to be led by Igor Schikow, who had worked at the Moscow office of Germany's Roedl & Partner.
Russian law firm EPAM and the Polish practice of Salans have both recently made internal partnership promotions.
Victor Dumler considers the ease of enforcing foreign arbitral awards in Russia – particularly recent cases where parties have resisted enforcement saying they were not notified of necessary information regarding the arbitration or that it breached public policy.
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.
A Russian law firm said Anatoly Karpov, former world chess champion, nomination as a candidate for World Chess Federation (FIDE) president is illegal.
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.