White & Case LLP has advised EN+, an aluminium and power producer with core assets located in Russia, on the offering of global depositary receipts admitted to trading on the London Stock Exchange and the Moscow Exchange.
In 2016, Russian law enforcement authorities had some success in investigating and combatting bribery. For the first time in several years, the majority of cases involved bribe-taking, rather than bribe-giving, and involved significant bribe amounts. The number of cases against bribe-takers increased by 19.7% from 2015, while the number of cases against bribe-givers increased by only 4.4%. This trend continued in the first half of 2017; the Russian Ministry of Internal Affairs and law enforcement authorities registered 3,362 cases of bribery, of which 2015 cases concerned bribe-taking and 1,347 cases concerned bribe-giving.
The Court of Arbitration for Sport has approved what Cleary Gottlieb is calling "a highly favorable settlement agreement" involving Cleary client and Russian ice hockey player Danis Zaripov, resolving his appeal of the two-year ineligibility period imposed on him by the IIHF Disciplinary Board in July 2017, and permitting him to resume playing professional ice hockey.
"We’ve been living through crisis days since the first wave of sanctions in 2014,” says Alexei Roudiak, the Managing Partner of Herbert Smith Freehills in Russia, "but looking back 12-18 months or even 12-24 months, things started to pick up, and we’ve noticed a greater amount of activity across the board, but primarily in the energy sector.” Not only energy (primarily hydrocarbons and hard rock mining), he says after reflecting, "but also pharma, retail, financial institutions, litigation (both domestic and cross-border) … we have been busy across all areas for the last 18 months.”