On September 24, 2024, Moscow hosted the Russian-Gulf Business Forum: New Connections, New Opportunities, a central platform for exploring business prospects in the Gulf. The event highlighted new avenues for collaboration and showcased the commitment of key market players to deepen ties with one of the world’s fastest-growing regions.

Bankruptcy Law has gone through many changes over the past summer, but perhaps the hottest of them all was published on 29.5.2024 and applies to petitions filed after the date, regardless of the date of the procedure used in the bankruptcy case. We propose to familiarize ourselves with the most significant of them.

On September 8, new state fees came into force for applications by legal entities and individuals to arbitration courts and courts of general jurisdiction. The new procedure applies to any applications and complaints filed with the court from September 9, 2024.

On 8 August Federal Law No. 300-FZ came into force, introducing a number of amendments to legislation, the most important of which affect regulation of economically significant organizations (hereinafter – “ESO”). Read more about the status of ESO in our updates as of 4 August 2023.

On 8 August 2024, the Arbitration Court of the Moscow Region satisfied the claim of the Russian Ministry of Industry and Trade against foreign company – Besloten Vennootschap Megapolis Distribution B.V. (distributor of Japan Tobacco, Phillip Morris, Red Bull, Durex and other brands) for suspension of its corporate rights in an economically significant organization (hereinafter – “ESO”) JSC “Megapolis Trade Company”.

On 8 August 2024, federal laws introducing a number of changes to the regulation of Russian LLC and JSC activities were published: Federal Law No. 305-FZ dated 08.08.2024 “On Amendments to Articles 48 and 66 of the Federal Law “On Joint Stock Companies” and Certain Legislative Acts of the Russian Federation” (hereinafter – “Law No. 305”) and Federal Law No. 287-FZ dated 08.08.2024 “On Amendments to the Federal Law “On Joint Stock Companies” and Certain Legislative Acts of the Russian Federation” (hereinafter – “Law No. 287”).

On July 30, 2024, laws aimed at regulating cryptoassets were passed by the State Duma and approved by the Federation Council. They promote the use of cryptocurrency, stablecoins and DFAs in cross-border settlements.

On July 22, 2024, the President of Russia signed Federal Law No. 190-FZ “On Amendments to Part Four of the Civil Code of the Russian Federation” (Federal Law). The amendments establish the procedure for the use of works whose author or right holder is unknown (“orphan” works).

On July 19, 2024, "Bill No. 676816-8 “On Amendments to the Federal Law “On Banks and Banking Activities and Certain Legislative Acts of the Russian Federation" (hereinafter - the "Bill") was submitted to the State Duma of the Russian Federation, providing for the possibility of opening branches of foreign banks in the territory of the Russian Federation. The Bill establishes the procedure and conditions for the operation of branches of foreign banks in Russia, as well as the procedure for their accreditation and the list of permitted banking operations.

Lidings appointed exclusive representative of WEX Crypto Exchange for accepting applications of clients for refunds.