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.
Commercial Real Estate features Elena Pristanskova commentary on legal requirements for facilities that use hazardous substances
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.
Commercial Real Estate publishes Igor Serebryakov commentary on Russia's Government support housing program
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.
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.
Financial Times publishes Dimitry Afanasiev’s commentary on Danone merging its Russian dairy business with Unimilk
Danone, the French dairy products group, is to merge its Russian dairy business with Unimilk, the country’s second-biggest producer, in a “strategic move” that will create a market leader with €1.5bn ($1.9bn) in annual sales.