News | Moscow

06
Feb

The ruling of Chamber for Commercial Disputes of the Supreme Court of the Russian Federation dated August 16, 2016 overturned a ruling of the lower courts (state arbitrazh courts) that had dismissed the claim of the public joint-stock company National Bank ”TRUST“ in a case brought against the Cyprus company Phosint Limited. The case concerned the validity of an arbitration ...

19
Jan

On 1 September 2015 the Federal Law No. 242-FZ of July 21, 2014 “On amendments to certain legislative acts of the Russian Federation to clarify the procedure for personal data processing in information and telecommunication networks” (the “Law”) came into force. The Law obliges operators to store collected personal data of Russian citizens within the territory of the Russian Federation. The ...

11
Aug

EU sanctions against Russia The Council of European Union regulation on new sanctions against Russia entered into force on 1 August 2014. Sanctions will be valid for a year with the possibility of revision after three months since the moment of entering into force. "Actions by natural or legal persons, entities or bodies shall not give rise to liability of any ...

05
Aug

On 1 July 2014, the Russian Civil Code introduced new pledge regulations. The changes greatly affect not only the relationship between pledgors and pledgees, but shall also have a considerable impact on the banking and finance sector. In this review we provide the most important developments of the new pledge regulations. The concept of the pledge (art. 334) In addition to pledgee’s ...

25
Jun

Specht Böhm is supporting "Russia Coast to Coast" as a Partner and legal counsel. The event will begin July 23, 2014 and features Austrian Race Across America winner, Wolfgang Fasching, as he attempts to set a world record biking Coast to Coast across Russia from Vladivostok via Yekaterinburg and Moscow to St. Petersburg a total distance of over 10,000 ...

18
Mrz

On 5 February 2014, Russian lawmakers proposed amendments concerning the registration of limited liability companies (“LLC”). The amendments will eliminate the requirement to pay at least half of the registered capital upon registration and shorten the deadline for full payment of registered capital from one year to two months from registration. The changes strive to reduce the start-up time for new ...

06
Feb

During the St. Petersburg International Economic Forum in June 2013, President Vladimir Putin proposed a reorganization of the Supreme Arbitration Court of the Russian Federation, and in October 2013 the bill outlining constitutional amendments was submitted to the State Duma. The proposed changes strive to ensure the uniformity of the Russian court system and practice. The Supreme ...

20
Jan

In a case against the Russian Federation, the Russian Court of first instance has ruled in favor of 2002 Nord-Ost siege hostage victim’s family represented by Specht Böhm Rechtsanwalt GmbH. Family of the victim will receive compensation for the loss of the head of household and moral damages in the amount of more than 100,000 Euros as well as monthly ...

17
Okt

Today’s WirtschaftsBlatt reported the Ring Holding majority takeover of Slovenian paint producer, Helios. Helios' worth is estimated at 250 million Euros. Specht Böhm Rechtsanwalt GmbH conducted the legal due diligence of the Russian subsidiaries in this transaction.  Ring Holding hopes that the takeover will lead the way to entry into the Russian, Ukrainian, Poland and Serbian markets.  Read more in German ...

01
Okt

This past July, Specht Böhm’s Moscow team secured a major victory for Strabag in Moscow. The Moscow Arbitration Court awarded our client 491 million Rubles (approximately 11.7 million Euros) in a case challenging three insurance companies which had originally only paid our client 60 million Rubles (approximately 1.4 million Euros). The complex court proceedings lasted for almost two years and ...