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Under Russian civil law, a legal entity is relieved from liability for failure to fulfil an obligation if such failure is caused by extraordinary and inevitable circumstances (i.e. force majeure circumstances).

Due to the spread of COVID-19 the Russian Ministry of Labor and Social Protection and the Mayor of Moscow recommended all employers to switch to home office work where it is possible.

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.

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 Advises MUFG, Citi, Credit Agricole, and Societe Generale on Financing for Trafigura Acquisition

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.

Arsen Ayupov Joins Nektorov, Saveliev & Partners

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.

Russian Knowledge Partner

Founded in 1993, Egorov Puginsky Afanasiev & Partners is the leading full-service law firm in the CIS with offices in Russia, Ukraine and Belarus and associated offices in the UK, the USA and Cyprus.

We advise its clients in many areas of law, including: dispute resolution in Russia and abroad, corporate law, M&A, antitrust issues, project finance and PPP, restructurings and insolvencies, energy and natural resources, property management and privatization, environment, technical regulation and industrial safety, banking and finance, intellectual property, criminal law, real estate and construction, taxation, family and labour disputes, marine and transport law, and international trade and customs.

We combine high academic qualifications, internationally acknowledged moral and ethical values, senior partners' professional experience and practical abilities with the vigour and knowledge of younger attorneys that enables thus providing clients with reliable, first-class service according to both Russian and western standards through a flexible structure.

All News about, and Legal Analysis by, Egorov Puginsky Afanasiev & Partners can be found here.

Firm's website: www.epam.ru

 

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