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 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.
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.
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.
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.
The CIS Leading Counsel Network (LCN), which launched last year and is spearheaded by Russian firm EPAM, is seeking three new members.
Bankers say a failure to complete restructurings may hamper Russia's ability to borrow in the future and the absence of clearly defined negotiation guidelines between Russian and western lenders raises the risk of future defaults. Currency and commodity markets have been unexpectedly benign for Russia since June, helping to stave off a widely forecast debt disaster, but Dubai World's debt woes have served as a reminder that the problem has merely been postponed.
Legal Week's Independent Law Firms in Europe supplement publishes Dmitry Afanasiev’s commentary on Russian legal market.
A nine-member CISnetwork that launched at the beginning of November is planning to bring the alliance model into the 21st century, according to its chair. The Leading Counsel Network (LCN) is a non-exclusive alliance of firms from Armenia, Azerbaijan, Belarus, Kazakhstan, Kyrgyzstan, Moldova, Russia, Turkmenistan and Ukraine. The network’s first meeting was held in Russia at the offices of EPAM.
Called the CIS Leading Counsel Network, the group consists of: Ashga Consulting Team in Turkmenistan, Aequitas Law in Kazakhstan, Ameria in Armenia, EPAM in Russia, Fina in Azerbaijan, Kalikova & Associates in Kyrgyzstan, Rulg in Ukraine, Turcan & Turcan in Moldova and Vlasova Mikhel & Patners in Belarus.
Russia withdrew a $22.7 billion lawsuit against Bank of New York Mellon Corp. Thursday, agreeing to a $14 million settlement and ending a case that critics said had threatened to further tarnish the already battered reputation of its judicial system.
Russian and CIS markets couldn’t escape the painful consequences of the global downturn. Legal Business looks at how domestic and international law firms are redrawing the market and what a series of law reforms will mean for investors.
The Lawyer 31 August 2009 publishes the work-life quiz with Ilya Nikiforov, Managing partner of EPAM.
The Ministry of Economic Development introduced another insolvency/bankruptcy bill, which is expected to bring a significant change in the company arrangements procedure for companies and for the first time in Russian legislative history to allow bankruptcy proceedings against groups of companies, including those with international structures.
President Dmitry Medvedev on Friday ordered Prosecutor General Yury Chaika and the head of the Kremlin’s oversight department, Konstantin Chuichenko, to open an investigation into state corporations, in a sign of growing skepticism over the institutions’ role in the economy.