The Government Commission Has Unified the Requirements for Transactions on Sale of Shares in Russian Companies and Payment of Dividends, Which Carried Out with Shareholders from Unfriendly States

17 July 2023

The Ministry of Finance of the Russian Federation published the Extract from the Decision of the Subcommission of the Government Commission for Control over Foreign Investments in the Russian Federation (the “Subcommission”) No. 171/5 dated 7 July 2023, which unifies and clarifies the requirements for deals on sale and purchase of stocks (shares) in Russian companies by persons from unfriendly states and payment of dividends to such persons. At the same time, the previously published Extracts from the Minutes of the Subcommission meetings No. 118/1 dated 22 December 2022 and No. 143/4 dated 02 March 2023 are no longer in force.

The table with the main criteria used by the Subcommission when considering the issue of approving transactions is set out in this update

Fifth Antitrust Package: Amendments and Updates

13 July 2023

Federal Law No. 301-FZ “On Amendments to the Federal Law “On Protection of Competition”” (the “Law”) was signed by the President of the Russian Federation on 10 July 2023 and will enter into force on 1 September 2023. As follows from the explanation note, the Law provides a set of norms aimed to improve antitrust regulation in the digital economic development. The main amendments of the fifth antitrust package you can find in this legal update.

12 July 2023 "The Law" Magazine, June 2023

The article briefly highlights the results of seven years of consumer bankruptcy, analyzes the problem of classifying citizens as honest and bona fide debtors. The author analyzes the practice of refusing to discharge debts due to a significant amount of claims against the debtor or a consistent increase in debt to creditors in the absence of the required level of income, as an independent basis for refusing to discharge debts and comes to the conclusion that the balanced approach proposed by the Supreme Court helps prevent indiscriminate failures. The author examines and highlights key points of the precedent ruling of the Supreme Court on the issues of malicious evasion of repayment of debts.