December
2004
Legal due diligence on a bank in Moscow is performed
In December 2004, at the request of the Polish consulting group Doradca Consultants Ltd. sp. z o.o., Vegas-Lex performed legal due diligence on a bank in Moscow in which a foreign company was considering making an investment. The purpose of the review was to determine whether the bank was operating in general compliance with legal requirements, the regulations of the Central Bank of the Russian Federation, and the bank's internal rules. The Firm prepared a legal opinion based on the due diligence review. The review included such issues as the formation of the bank, its corporate and management structure, its operations based on licenses issued by the Central Bank and the Federal Securities Commission, the procedures used by the bank to collect accounts receivable, the status of the bank's assets, its personnel policy, and others. These issues were discussed objectively in the legal opinion provided to the client.