24
Thu, Aug
45 New Articles

Clifford Chance has advised PJSC MMC Norilsk Nickel, a diversified mining and metallurgical company that is the world's largest producer of refined nickel and palladium, on the sale of its equity interest in the company which owns the Legion TI Business Center in Moscow to RCP Investments II Ltd. for approximately USD 100 million. Dentons advised the buyers on the deal.

Asters has served as Ukrainian counsel (working with lead counsel Quinn Emanuel Urquhart & Sullivan) to JSC Oschadbank, in connection with Oschadbank's claim against the Russian Federation, brought before an arbitration panel at the International Chamber of Commerce in Paris, for recovery of over USD 1 billion in compensation as a result of the total loss of its investments in Crimea.

Egorov Puginsky Afanasiev & Partners is reporting that on April 17, 2017 the Arbitrazh Court of Moscow approved a settlement agreement between Russia's Federal Antimonopoly Service and the Google and Yandex corporations, thereby bringing an end to a dispute which had run for more than two years. Egorov Puginsky Afanasiev & Partners (EPAM) represented Yandex in the dispute.

CMS has advised ING Bank N.V., London Branch and other international banks as mandated lead arrangers of a new USD 420 million five year unsecured syndicated finance facility to Russian Railways. Freshfields Bruckhaus Deringer reportedly advised Russian Railways on the deal.

Clifford Chance has advised Deutsche Bank, ING, Natixis, and UniCredit in their capacity as the coordinating committee for the pre-export finance banks in connection with the successful implementation of a USD 2.3 billion debt restructuring for Metinvest. Ukraine's Redcliffe Partners, working alongside Clifford Chance, provided Ukrainian law advice to the committee. Baker McKenzie and Allen & Overy advised Metinvest on the restructuring.

Looking at it honestly, 2016 has been another year of recession for Russia, with a GDP expected at negative 0.6%. That’s not a surprise, of course. The oil crisis, currency crisis, and a hostile international context materialized by EU and US sanctions have severely impacted the economy.

2016 was a notable year in Russia for the extension of control over, and further clarification of, data localization requirements; establishment of a strategy for the further development of personal data legislation and an increase in attention to cybersecurity issues.