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On October 15, 2020, CEE Legal Matters reported that Kachkin & Partners had successfully helped Russian general contractor STEP LLC reach a settlement with Pharmasintez-Nord JSC in a dispute regarding payment for work and related claims worth over RUR 100 million. CEEIHM spoke with Yulia Nikolaeva, Head of Legal Service at STEP LLC, to learn more.

Bryan Cave Leighton Paisner has advised the HeadHunter Group, which operates Russian online recruiting platform hh.ru, on the acquisition of the Zarplata.ru online recruiting platform from Hearst Shkulev Digital Regional Network B.V. The transaction, which is valued at RUB 3.5 billion, has already been given the requisite regulatory approval and is expected to close in January 2021.

Latham & Watkins has advised the underwriters on the USD 1.1 billion initial public offering of Russian e-commerce platform Ozon Holdings PLC on Nasdaq. Debevoise & Plimpton advised Ozon Holdings on the deal.

As in other countries, business in Russia has been heavily affected by the COVID-19 pandemic, and small and medium enterprises, which do not have enough reserves to survive in the unfavorable economic situation, have suffered the most. In order to support SMEs, the State, in addition to temporary support measures, has introduced a considerable decrease in the tax burden related to the remuneration of employees above the minimum monthly wage. Cumulative social contributions were lowered to 15% from the previous rate (which could reach 30%, with certain exceptions), and may be applied by SMEs.

Beiten Burkhardt has announced that it will close its St. Petersburg office at the end of the year, concentrating the firm's Russian business exclusively in its Moscow office.

Latham & Watkins has advised VTB Bank as arranger and lender in connection with the GBP 3 billion take-private offer for KAZ Minerals PLC made by Nova Resources, a consortium formed by two of KAZ Minerals’ largest shareholders. Linklaters reportedly advised KAZ Minerals on the deal.

Most multinational corporations have internal antitrust compliance policies in place for their global businesses, covering their Russian operations. Following years of debate, Russia has enacted a law meant to improve antitrust compliance by regulating internal compliance policies (the “Compliance Act”).

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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