On July 1, 2017 entered into force the Federal Law dated July 1, 2017 No. 155-FZ “On amendments to Article 5 of the Federal Law “On the Privatization of State and Municipal Property” and the Federal Law “On the Procedure for Making Foreign Investments in Companies which are of Strategic Importance for Ensuring the National Defense and State Security” (hereinafter – “Law No. 155-FZ” and “Strategic Investments Law” respectfully).
On 2 June, on the sidelines of the 21st St. Petersburg International Economic Forum, a cooperation agreement was signed between the Government of Leningrad Region and joint stock company Knauf Petrobord, a member of the Knauf Group. The agreement includes an investment by Knauf of at least RUB3.5bn to renovate production facilities for cardboard facing over the period to 2020, and provision of investor support by the Government of Leningrad Region.
The Constitutional Court of the Russian Federation has accepted arguments made by EPAM Partner Dmitry Stepanov and found Article 302, Paragraph 1 of the Civil Code of the Russian Federation unconstitutional.
EPAM has assisted Knauf Petrobord on its June 2, 2017 entrance into an agreement with the Government of Leningrad Region involving Leningrad's funding of at least RUB 3.5 billion to renovate production facilities for cardboard facing before 2020.
EPAM has advised Danone Russia on its entry into a joint project with Soyuzmultfilm.
EPAM has advised Danone Russia on its entry into a joint project with Soyuzmultfilm.
Some of Russia's super-rich have given up residency to escape a 2014 law requiring them to disclose offshore assets, wealthy businessmen told Reuters, a practice that could keep billions of dollars hidden from Moscow's tax authorities.
EPAM has acted as legal advisor to the special committee on the rights of Russian bondholders in the international debt restructuring of the Roust Corporation, which the firm describes as "one of the largest producers of vodka in the world."
EPAM has successfully assisted on the transfer of JSC Uralsib's motor insurance portfolio to JSC Reliance.
The information exchange, as such, is not prohibited by the effective Russian Federal Law On Protection of Competition (the Competition Law or Law), but the content of the information exchange between business entities and its consequences are important. Generally, a confirmed exchange of any commercially important information (about prices, production volumes, etc) may be treated as showing that there is an anticompetitive arrangement between companies that will be qualified as a cartel, if the information is exchanged between competitors and if the exchange agreement has resulted in variation of prices, lowering the number of market players or gaining a competitive advantage (article 11 of the Competition Law).
The Federal Service for the Supervision of Communications, Information Technology and Mass Communications (‘Roskomnadzor’) announced, on 10 April 2017, that pursuant to its decision of 6 April 2017 No. 8 (‘the Decision’), it had ordered telecommunications operators to restrict access to Zello Inc.’s services within Russia after the company failed to inform the Roskomnadzor of the storage on its servers of all electronic messages sent using Zello’s website and apps. According to Federal Law of 27 July 2006 No. 149-FZ on Information, Information Technologies and Protection of Information, as amended (‘the Law’), ‘information distributors’ are obliged to notify the Roskomnadzor of their compliance with localisation and retention obligations under the Law.
Although the New York Convention is applicable to the recognition and enforcement of foreign arbitral awards, the Convention has a parallel application in Russia — judges employ the Convention for the recognition and enforcement of foreign judgments.
Daria Ilyina, Senior Associate, on contracts, negotiations and enforcement in the Russian Federation.
Intellectual Property / TMT Practice of EPAM informs on the recent legislative developments and current judicial practice in information technology.
A Russian court published its exceptional decision and ruled that LinkedIn’s activity in Russia was in breach of Russian personal data law. The court of appeal did not overturn the decision: LinkedIn.com is now blocked in Russia.