In accordance with an Executive Order of the Russian President, from 30 March to 3 April 2020 employees in Russia will have fully paid days off as part of measures to keep employees at home and prevent the spread of the coronavirus.
During an address to the nation on 25 March, Russian President Vladimir Putin announced anti-crisis measures to support Russian businesses and individuals and to find ways to replenish the state budget. The measures applicable to taxation are described below.
Stetom, the recently rebranded firm previously doing business as Sterbatomashvaskaya, has advised Skoda Transportation on its entrance into a joint venture with Sinara-Transport Machines. The joint venture company, Sinara-Skoda, will be based in St. Petersburg, and will produce trams, trolleybuses and subway kits for the Russian market.
As of 19 March 2020.
Ilya Rybalkin, Head of Dispute Resolution at Rybalkin, Gortsunyan & Partners has become a member of the Scientific Advisory Board on International Law under the Ministry of Justice of the Russian Federation.
Sweden's Per Magnusson, the co-founder of the Magnusson law firm, which has offices in seven countries — including four in CEE — has left the firm to launch an advisory business in Stockholm.
Linklaters has advised Sovcombank as arranger on the RUB 5.7 billion domestic green project bonds issued by an orphan special purpose vehicle, SFO RuSol 1 LLC, for the purpose of financing two solar stations of Solar Systems LLC in the Astrakhan region of Russia. Bryan Cave Leighton Paisner reportedly advised the issuer.
Integrites and Switzerland's HFW law firm have advised MUFG Bank and a syndicate of lending banks including Citi, Credit Agricole, and Societe Generale on a limited recourse term loan to finance Trafigura’s acquisition of copper cathodes from the Swiss trading arm of the Russian mining group Norilsk Nickel.
Rybalkin, Gortsunyan & Partners and Macfarlanes have advised AEON Corporation on its sale of a 28.34% stake in Petropavlovsk Plc to the Yuzhuralzoloto Group.
Rybalkin, Gortsunyan and Partners has launched an Arbitration practice, which will be led by new Partner Dmitry Dyakin.
Arsen Ayupov, the co-founder and former Managing Partner of the RE Group investment consulting company, has become a partner at Nektorov, Saveliev & Partners.
Andrew Lomas, a barrister and member of London's One Essex Court chambers, has joined the International Arbitration and Litigation Practice of Egorov Puginsky Afanasiev & Partners as Co-Head of International Arbitration and Litigation.
Although not specifically related to Russia, the agreement by the Office of Foreign Assets Control (OFAC) between it and the Apollo Aviation Group (Apollo) on the monetary compensation for the settlement of violations by Apollo of the Sudanese Sanctions Regulations that was announced on November, 7 2019, affects the aircraft leasing sector worldwide.
Scott Senecal is an American lawyer with Cleary Gottlieb Steen & Hamilton in Moscow. His practice focuses on financial and corporate law, and he has extensive experience in mergers and acquisitions, capital market transactions, and syndicated loans.
CEELM: Can you walk us through your career leading you up to your current role?
Sanctions imposed by the U.S.A, the EU, and other jurisdictions in relation to certain Russian individuals and legal entities have had a substantial impact on international arbitration involving Russian parties. There exist serious concerns as to the ability of sanctioned Russian parties and their contractual counterparts to realize their right to defend themselves in the course of arbitration proceedings. These concerns have led to changes in market practice regarding the choice of the arbitration forum and to some legislative proposals in Russia that, if implemented, would have a dramatic impact on international arbitration involving Russian parties.
I feel a sense of optimism about Russian’s legal market that I have not felt since the dark days of the Crimean Crisis in 2014.
Debevoise & Plimpton has advised Norilsk Nickel on the upsizing and extension of its December 2017 syndicated facility agreement.