Infralex partner Artem Kukin has commented to the newspaper “Vedomosti” on the M&A practice under the Russian law. The newspaper published in the special category “Legal services business” a review of the M&A market after the amendments to the Russian Civil Code borrowed some institutions from the English law. According to lawyers, “Transactions in Russian” are becoming more. However the main motivation is not the new provisions of the Civil Code but the deoffshorization of the Russian business. Artem Kukin believes that the participants to big M&A transactions are afraid to use the Russian law. The main reason is the lack of stable and user-friendly judicial practice.
Infralex partner Artur Rokhlin has commented to the newspaper “KommersantЪ” on the law draft drawing a distinction between various breaches of competition and administrative responsibility for them. Catel agreements, the most dangers violations are proposed to punish more severe: the minimum fine shall be increase from 1% up to 3% of revenue. On the other hand administrative fine for other agreements can reduce from 15% up to 3-5% of revenue depending on the violation. Now all the anti-competitive agreements entail the same administrative penalty. Artur Rokhlin explained such the agreements as vertical ones and coordination.
Infralex partner Artem Kukin has taken part in a traditional research of the Russian legal market, undertaken by the newspaper “Vedomosti”. The results have published today in the review “Legal Money” in the special category “Legal services business”. This year the subject of the research is the crisis and new legislations effect on the law firms. In particular lawyers noted the most hazardous laws adopted recently. According Artem Kukin, “Hazardous rules” include the banks’ right to issue of bankruptcy proceedings against their debtors without a preliminary suit for debt recovery (now the courts allow not only banks but other persons to follow this similar procedure). Moreover a requirement to every legal entity to know its beneficiaries and disclose the information about them can be also considered as a “touchy” rule.
The magazine “KommersantЪ Vlast” has published today the article “With full liability for damages” by Infralex partner Artem Kukin and analyst Olga Pleshanova. The authors examine the Russian judicial practice related to holding liable of companies’ top managers. Now the liability for damages strengthens, the courts answer claims for damages more often. The experts are afraid that business can remain without leaders: few will risk all their assets. Additionally, directors' and officers' liability insurance is not developed in Russia.
On the 15th of November the Russian Supreme Court Plenary Session gave its guidelines related to the special aspects of prosecution of a crime in economic and business area. The guidelines have been required after a recent return to the Russian Criminal Code special provisions on the punishment for “business swindle”. The Supreme Court has defined i.a. a “business area” for prosecution of the swindle and other crimes.