The Supreme court has amended the regulation of pledges, established by the Supreme Arbitration Court of the Russian Federation earlier. The Decree of the Plenum of the Supreme Court No. 45 "On some issues of dispute resolution connected to pledge" dated 24.12.2020 (hereinafter – DPSC No. 45) derogates the Decree of the Plenum dated 12.07.2012 No. 42 (hereinafter – DPSAC No. 42) and resolves main problems raised in connection with the reform of this institute in 2015.

Starting from the beginning of 2021, new rules for the retail sale of goods (the “Rules”) entered into force. The Rules will be valid until January 1, 2027. The Rules are developed within the framework of the regulatory guillotine and replace a few previously existing documents (rules for retail trade, rules for distance selling of goods, rules for commission trading).

Federal law No. 115-FZ of 07.04.2020 (as amended by Federal law No. 297-FZ of 31.07.2020) (“Law”) sets out the specifics for holding General Meetings of LLC and JSC shareholders in 2020.

Starting from August 11, 2020, amendments to the Federal law “On the procedure for foreign investment in economic companies of strategic importance for national defense and state security” (“Law”) have come into force, strengthening state control over transactions of foreign investors or a group of persons in respect of shares of companies of strategic importance for national defense and state security (“Company”).

Under the Russian Law the force majeure — act of god situation means emergency, unforeseen and unavoidable situations, which cannot be reasonable predicted, avoided or overcome in time of contracts execution and are not under the control of parties.

On the June, 26th 2018 the Plenum of the Supreme Court of the Russian Federation adopted the Resolution No. 27 “On challenging of the major and interested party transactions” (hereinafter — The Resolution).

The new Bill No. 551219-7 has been introduced to the State Duma, which is going to change voting procedure for interested party transactions under Joint Stock Companies Law and Limited Liability Companies Law.

On 19 July amendments to the Federal law “On joint stock companies” (JSC Law) came into effect aiming to fix general principles of internal audit implementation in joint stock companies. Here we describe this and other important changes.

Ministry of Economic Development of the Russian Federation proposed to abolish company winding-up basis that provides for the liquidation of joint stock companies (JSC) and limited liability companies (LLC), while the net asset value is lower than the charter capital amount.

The procedure of incorporation companies and individual entrepreneurs has been changed since 29 April 2018. Amendments to the Federal law No. 129-ФЗ of 08.08.2001 “On state registration of legal entities and individual entrepreneurs” has come into effect.