The pravo.ru portal has conducted a study on corporate law, evaluating the projects run by Russian law firms in terms of the value and number of projects.

For this study, regional law firms submitted 273 projects worth a total of over RUB 1 trillion. Four companies from Saint Petersburg have made it to the top five. These are Kachkin & Partners, Nordic Star Law Offices, Forte Tax & Law, and Legal to Business.

According to the study, since January 2022, Forte Tax & Law has provided support for 31 corporate law projects worth about RUB 40 billion, with the average project value being RUB 1,290 billion. Transactions account for 84% of the number of our projects.

To read the study, click here.

Article by Anton Kabakov for RBC Pro

The RBC Pro portal has published an article by Anton Kabakov, Partner at Forte Tax & Law, overviewing the latest practice of obtaining authorizations from the Russian Government Commission for the purchase and sale of foreign companies in Russia.

Since the fall of 2022, Russia has been imposing serious restrictions on transactions with respect to shares (interests) in Russian companies where one of the parties is a foreign person from a so-called ‘unfriendly’ country.As you may know, such transactions require authorization from the Russian Government Commission on Control over Foreign Investments.However, it is not common knowledge that authorization from the Russian Government Commission or the Central Bank of Russia may be required even when the object of a transaction is a foreign company.

To read the article on the RBC Pro portal (a subscription fee applies), click here (in Russian).

If you have any questions about obtaining authorizations from the Russian Government Commission, please send an email to Anton Kabakov.

On May 20, 2024, Decree No. 430 of the Russian President was published that has imposed restrictions on transactions involving the acquisition of exclusive rights to the results of intellectual activity or means of individualization. This Decree does not apply to the granting of rights to use intellectual property under license or other similar agreements that do not provide for the alienation of exclusive rights.

On May 17, 2024, the Russian Ministry of Finance published on the website a new extract from the minutes of a meeting of the subcommittee of the Russian Government Commission.

On May 23, 2024, the President of Russia signed Decree No. 442, establishing the procedure for compensating damages caused by decisions of US governmental bodies and courts to seize foreign assets of the Russian Federation and the Central Bank of Russia.

On April 23, 2024, a solemn award ceremony honoring the leaders of the Legal Top 2024 Ranking compiled by the Delovoy Petersburg Publishing House was held at the Palkin restaurant in Saint Petersburg.

This time of the year has come again when companies need to approve their financial results for the previous year. Limited liability companies will have to approve their financial results for 2023 not later than April 30, 2024, and joint-stock companies not later than June 30, 2024 (unless otherwise provided by the company’s charter).

The Bank of Russia has published new Clarifications No. 1-OP dated March 22, 2024 on the procedure for applying Decree No. 95 of the Russian President dated March 5, 2022.

Decision No. ПРГ-12-3/534 of the Working Group of the Bank of Russia dated March 6, 2024 has revised the conditions, on which Russian residents may, without individual authorizations from the Bank of Russia…

On July 12, 2023, the new minutes of a meeting of the Russian Government Commission regarding the rules for obtaining authorizations for closing transactions in interests or shares and paying dividends were published on the website of the Russian Ministry of Finance.