26.06.2024

Liability for failure to take direct possession of equity in economically significant companies

In one of our previous alerts, we advised that a draft law amending the Russian Code of Administrative Offences had been submitted to the State Duma to establish, among other things, sanctions for failure to comply with the requirements of Law No. 470-FZ On Peculiarities of Regulation of Corporate Relations in Business Entities that are Economically Significant Organisations.

On 22 June 2024, that law was signed by the President of Russia, published and entered into force.

Read in detail in the alert at the link:

https://www.stonebridgelegal.ru/media/files/Alert_Liability_for_failure_to_take_direct_possession_June_ENG.pdf

You might be interested

  • New Mechanism for Termination of Foreign Investors’ Rights under Asset Buyback Options
    New Mechanism for Termination of Foreign Investors’ Rights under Asset Buyback Options

    Draft law No. 1059849-7, which supplements Federal Law No. 160-FZ On Foreign Investments in the Russian Federation, dated 9 July 1999, with a new Article 20 (1), is currently under consideration in the State Duma. The article introduces a legal mechanism allowing Russian purchasers who bought shares (equity interests) in Russian companies previously owned by foreign investors to refuse, subject to a number of conditions, to perform their obligations to return the assets to foreign investors under buyback options and other similar agreements.

    21.07.2025