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Due to COVID-19 pandemic dissemination new measures aimed at its preventing are being adopted in Russia. New restrictions for a period of April 19, 2020 were introduced by the Decree of Major of Moscow dated April 10, 2020: The activities of enterprises with the exception of continuous-cycle enterprises, health care…
On March 25, 2020 the Russian president took initiative to reduce the general insurance premium rate for small and medium-sized businesses as part of a set of measures aimed to support Russian companies in the face of pandemic. In this regard, on April 1, the Parliament adopted Federal law No….
On April 1, 2020, the Russian Parliament has adopted law amending the existing legislative acts in the corporate relations sphere. It was triggered by widespread dissemination of coronavirus infection in Russia and the suspension of a significant number of companies’ activities. The law is expected to be approved by the…
In the light of COVID-19 dissemination in Russia, Federal Law “On Insolvency (Bankruptcy)” includes rules, governing introduction of moratorium on bankruptcy proceedings for certain economic branches and specific companies. Changes are aimed at preventing bankruptcy of a huge number of companies in current economic situation. We present main provisions of…
The main bill regulating the adoption of these amendments is bill № 862653-7 «On amendments to parts one and two of the Tax Code of the Russian Federation and to Certain Legislative Acts of the Russian Federation», which is being considered by the Council of Federation. According to the text…
During this difficult period, we direct our efforts on getting tax breaks for your business, loans deferrals and reducing costs thanks to which you will maintain your market status. Our team has a financial outsourcing department, which will help to overcome today’s crisis remotely, without a full-time accountant. This will…
In regard to the spread of coronavirus in Russia, the head of state presented additional measures to support citizens and businesses during the crisis: Extra weekend – The week from March 28 to April 5 was officially declared non-working with the wage maintenance. Business support – Extend loans for businesses…
Currently, it becomes more difficult to fulfill obligations undertaken earlier. Art. 416 of the Civil Code of the Russian Federation states that an obligation is terminated by the impossibility of fulfillment if it is caused by a circumstance arisen after the occurrence of the obligation, for which neither of the…
During the declared COVID-19 pandemic, one of the most important tasks for a business executive is a transfer of employees to remote work. In this regard, the issue of finding a best way to organize this transfer without violating the provisions of the labor law arises. In most cases, an…
A day earlier Russian Prime Minister informed heads of state that in order to ensure security and curb the spread of coronavirus, it was decided from 00:00 on March 18 to temporarily restrict entry to the territory of the Russian Federation for foreign citizens and stateless persons. Currently, restriction will…
A complex verification procedure which is usually used in world practice, in order to find out the possible risks a business may face in future before entering into an agreement with a client, partner or contractor. The more detailed data about the transaction is provided, the more reliable decision can be made. The research includes the following.
The term “due diligence” includes the assessment of the company in various areas, including verification of the reliability of the firm, its financial documents and the conduct of inspections in the field of labour law. It is often used before entering into contracts, company acquisition or making investments.
Responsibility for dishonest withdrawal from negotiations exists in most countries of continental Europe, but in Russia such responsibility appeared with entry into force of Art. 434.1 of the Civil Code. Nevertheless, at the moment, law practice on recovering losses related to unfair negotiation is quite rare. Party that interrupts negotiations…
According to Review of Judicial Practice on some issues of legislation application on business entities, approved by Presidium of Supreme Court of the Russian Federation, from December 25, 2019 all resolutions of members of business entities (limited liability companies and joint-stock companies) are subject to notarization. These changes apply to…
A new type of financing is becoming popular is Russia – investing in third party’s lawsuit. Over the last 2,5 years private investors have covered legal costs with a total lawsuits amount of more than 9,3 billion rubles. Abroad, this type of financing is called litigation finance and has become…
