About the Firm Regional development

On 18–20 September 2019, the VEGAS LEX law firm participated in the PROESTATE* international investment real estate forum. VEGAS LEX experts acted as speakers at the key conferences of the event and, in the midst of the forum, VEGAS LEX and RGMD held a business breakfast on the topic "Models of Implementation and Mechanisms of Financing of Real Estate Development Projects".

This year the VEGAS LEX law firm retained its position in its traditionally strong categories on Chambers Europe 2019.

VEGAS LEX associates have succeeded in standing against a token approach of judges when judging actions of the former chief executive officer of Volgograd Drilling Equipment Plant at the Supreme Court.

There were published the results of the annual ranking “Pravo.ru-300” according to which VEGAS LEX became a leader in the areas of Commercial Real Estate / Construction and PPP and gained recognition in other areas of law.

VEGAS LEX experts have explained ways to defend companies in competition abuse cases, and how the authorities consider the most common types of violations in this area in a webinar they led jointly with Pravo.ru.

VEGAS LEX experts are traditionally included in the top list of the best lawyers of the international rating “Best Lawyers in Russia 2018” and improved their performance.

VEGAS LEX has taken part in the annual Job Fair at Volgograd State University.

Starting from 29 January 2015, the rules of the Federal Law “On insolvency (bankruptcy)” shall be applied to the bankruptcy procedures as amended by the Federal Law of 29 December 2014 No. 482-FZ.

On 28 May 2014, the Supreme Arbitration Court of the Russian Federation issued Resolution of the Plenum No. 28 dated 16.05.2014, in which SAC RF clarified a number of issues related to the contestation of major transactions and related party transactions. (This legal update is available only in Russian)

The lessor may transfer the leased asset as collateral. On 22 March 2012, published was a Decree of the Presidium of SAC RF, expressing the position of the Court concerning the transfer by the lessor of the property pledged to the bank, without the consent of the lessee. (This legal update is available only in Russian)

The burden of proving the amount of shares subject to recovery has now been placed on the defendants – unscrupulous purchasers of shares. (This legal update is available only in Russian)

Almost two years have passed since the Russian Federation Supreme Court Plenary Assembly adopted a resolution on issues concerning statutes of limitations. Over that time, express approaches to applying these interpretations have taken shape in judicial practice. We will gain an understanding of how the mechanism works nowadays for pausing when a statute of limitations runs out.

In August 2017, the Russian government published the rules on how legal entities need to present information about their beneficial owners to government agencies. The new rules will permit checking how companies identify, update, and store information on the people that control their actions. To ensure that relevant responsibilities are adequately fulfilled, it is necessary to gain a detailed understanding of these new provisions, since in practice they might not be interpreted in a clear-cut manner.

Starting in 2015, for the first time a new form of cooperation between the state and private investors became available – the special investment contract (hereinafter SPIC). The goal of implementing it is to stimulate the attraction of large-scale investment to help create and upgrade industrial production facilities inside Russia by providing industry incentives, credits, and stable conditions in which to conduct business. What advantages does this investment mechanism have, and what additional obligations must a party that is investing take upon itself in order to enjoy them?

On 21 February 2018, VEGAS LEX’s experts with the support of RSPP Committee for Property and Judicial System held a conference in Moscow, following a series of events dedicated to main trends in disputes involving recovery of business losses and recommendations for getting the best result (for a plaintiff or a defendant).

There were published the results of the annual ranking “Pravo.ru-300” according to which VEGAS LEX became a leader in the areas of Commercial Real Estate / Construction and PPP and gained recognition in other areas of law.

Maxim Grigoryev, VEGAS LEX Partner and Head of special projects, spoke at the fourteenth joint meeting of the Russian-Japanese and Japanese-Russian committees for economic cooperation on the topic of efficient use of special investment contracts (SICs) for the creation and development of production in Russia.

VEGAS LEX has organized a series of events in Krasnodar and Rostov-on-Don on Recovery of damages: confirmation, denial, reduction.

VEGAS LEX experts have explained ways to defend companies in competition abuse cases, and how the authorities consider the most common types of violations in this area in a webinar they led jointly with Pravo.ru.

In November 2017, two regulatory acts were published that made significant adjustments to the mechanisms for banks to control hard currency. The first one is Guideline Manual No. 181-И, issued by the Bank of Russia (the Central Bank), that must be followed starting January 1st, 2018 to record and furnish reporting on operations with hard currency (hereinafter Manual No. 181-И). The Manual is supposed to loosen currency controls by decreasing the burden borne by residents. The second act has the opposite effect, and is geared toward tightening currency controls. This is Federal Law No. 325-FZ, which, when it enters into force on May 14th, 2018, will make it easier for banks to respond to any violations of currency law, and draws distinctions between the types of administrative liability in this area.

Starting October 1st, 2017 certain supervisory and audit authorities are supposed to use checklists hat have questions used to gather information. This new mechanism is designed to solve several tasks at once: to streamline, simplify, and increase the transparency of audits. This is all for the auditors. However, people who are involved in business will also benefit from this tool if they can adopt the right approach.

VEGAS LEX law firm and Russian Union of Industrialists and Entrepreneurs are happy to bring to your attention the Nationwide Survey «Practice of Fighting the Corporate Fraud» Final Report. The key mission of the Survey was to improve the tools of fighting the corporate fraud in Russia and elaborate suggestions for improving and updating Russian laws.

Recently, in the sphere of retail purchase and sale of vehicles, gaining momentum is such a thing as “consumer greenmail” (in other words, consumer blackmail). The consumer imposes on the car dealer unfavourable conditions for the sale of the car, often blackmailing by claiming violation of his rights and of existing legislation and sometimes threatening litigation. Such consumer behaviour from a formal point of view is lawful, and at first glance, it may be recognized only as “unethical”. At the same time, it is fraught with serious financial and reputational losses for the auto dealers. In this connection, the problem of “consumer greenmail” requires thorough diagnostics and systemic solutions.