Legal Week's Independent Law Firms in Europe supplement publishes Dmitry Afanasiev’s commentary on Russian legal market.
Dimitry Afanasiev comments on $22.7 bn dispute settlement between the Russian Customs Service and the Bank of New York Mellon for the Wall Street Journal
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.
The Lawyer 31 August 2009 publishes the work-life quiz with Ilya Nikiforov, Managing partner of Egorov Puginsky Afanasiev & Partners.
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.
Anton Kostenko comments for The Moscow Times President Medvedev’s order to investigate Russia's state corporations
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.
In June 2009 amendments to the federal law on bankruptcy drafted by the Ministry for Economic Development came into effect. Evgeny Raschevsky, a partner with Egorov, Puginsky, Afanasiev & Partners, comments on the amendments for Russia Today TV emphasizing that their purpose is to improve procedures to restore solvency of debtors and their financial rehabilitation.
Grigory Chernyshov comments for The Moscow Times Russian PM's initiative to adopt a bill that would ensure criminal penalties for unfair competition
...In addition to dropping its vague language, the amended law would cover cartel collusion, which it currently does not, said Grigory Chernyshov, a partner at law firm Egorov Puginsky Afanasiev & Partners...
The Noga case, which those in Russia had thought was closed for good, has made itself known again. Yesterday, the Russian Finance Ministry acknowledged that funds in the Paris accounts of the Central Bank, RIA Novosti information agency and a number of other state companies in VTB Bank France SA and Calyon Bank, worth up to $70 million, had been frozen. Noga considers the 2006 agreement under which U.S. businessman Alex Kogan bought its debt invalid. The Finance Minister accuses Noga of misinforming the courts and Noga lawyers are ready to seek $800 million from Russia.
EPA&P lawyer commentsfor the article"Arbitration Court Sets Rules for Gift-Giving to Government Officials" byKommersant, Russia
Russia's higher arbitration court is preparing to define the protocol for governmental officials and judges in receiving and declaring gifts. The maximum permitted value of gifts received in connection with one's job is being increased from 500 to 4,000 rubles, and it will be necessary to declare personal gifts of more than 100,000 rubles. Infractions of these rules can become grounds for criminal prosecution. Experts note that similar rules exist in many countries around the world but admit that the prospects for the effectiveness of their control over Russian judges and officials is uncertain...
Minority shareholders of YUKOS are taking legal action; On March 14, Russia received a summons to a court in the District of Columbia. Lawyers acting for American minority shareholders of YUKOS delivered the summons to the Russian Foreign Ministry via the US State Department. Russia is officially the main defendant now.
Ilya Nikiforov's, managing partner of Yegorov, Puginsky, Afanasiyev & Partners, comment in "The St. Petersburg Times"
Law students from 14 European countries are in St. Petersburg to take part in the annual meeting of the European Law Students’ Association (ELSA) that convened Wednesday and runs through Sunday...
While reducing the statute of limitations for privatization deals, the Kremlin is changing the regulations for corporate conflicts. The presidential administration proposes that the term within which disputed deals can be revised should be tripled. As yet, conflict participants aren't sure if this is good or bad...
Elections, the independence of the courts and a high-profile furniture scandal converged Monday, as a Moscow City Court judge accused the Prosecutor General's Office of pressuring the court to issue rulings in its favor.
Dmitry Afanasiev's time in the United States has been filled with international drama and professional success. After helping resolve a kidnapping case in Russia, he has started his own firm advising Russians and Americans on how to do business with each other...