Sibir Energy, the oil minnow, is joining forces with a company chaired by Moscow's mayor to sue Roman Abramovich's Sibneft in international courts, alleging Sibneft cheated it out of an oilfield stake that experts value at as much as Dollars 1.5bn...
Anglo-Russian oil company Sibir Energy said Thursday it would start a legal campaign abroad against Russian billionaire Roman Abramovich's oil giant Sibneft for the return of a joint venture investment...
Henry Cameron, CEO of Sibir Energy Plc, and Evgeny Sevastianov, First Vice President of the Moscow Oils And Gas Company, at a Moscow news conference Thursday said that they have joined forces to fight Sibneft, the Russian major oil company owned by Roman Abramovich...
While reducing the statute of limitations for privatization deals, the Kremlin is changing the regulations for corporate conflicts. The presidential administration proposes that the term within which disputed deals can be revised should be tripled. As yet, conflict participants aren't sure if this is good or bad...
The Federal Antimonopoly Service allowed the request of Alcoa for a permit for acquisition of controlling stakes in Samara metal plant and Belokalitvinskoe metallurgical production association...
The RF Constitution includes guarantees of freedom of economic activity, promotion of fair competition, and free movement of goods, services and finances (Art. 8). An implication of this principle is that private rights must not be used to hinder competition and abuse of the dominant position on the market (Art. 10 .1 of the RF Civil Code)...
by Ilya Nikiforov, managing partner of EPA&P St.Petersburg office
The Civil Code establishes a basic framework for electronic transactions. For a legally binding contract to be formed by exchanging documents(messages) via electronic means (electronic documents) two conditions must be met...
by Ilya Nikiforov, managing partner of EPA&P St.Petersburg office
The RF Law On Copyright and Neighboring Rightsof 9 July 1993 No. 5351-1 (as amended) (“The Copyright Law”) extends copyright protection to works of literature, art, and science, as well as to computer software and databases (which are also covered by the law On Legal Protection of Computer Programs and Databases No. 3523-1 of 23 September 1992 (as amended by the Federal Law No. 177-FZ of 24.12.2002)...
by Ilya Nikiforov, managing partner of EPA&P St.Petersburg office
Pledge is regulated by the RF Civil Code (Art. 334-358) and other laws, such as the law On Pledge of 29 May 1992 No. 2872-1, the law On Hypothec (real property mortgage) of 16 July 1998 No. 102-FZ (as amended)...
by Ilya Nikiforov, managing partner of EPA&P St.Petersburg office
The legislation grants exclusive jurisdiction over insolvency cases to the jurisdiction of the arbitrazh (commercial) courts. Bankruptcy proceedings may be instituted by the bankruptcy creditors, authorized agencies, and the debtor itself (Art. 7 of the Federal Law On Insolvency (Bankruptcy) of 26 October 2002 No. 127 FZ; hereinafter – the “Law on Insolvency”)...
by Ilya Nikiforov, managing partner of EPA&P St.Petersburg office
Private arbitration tribunals are getting increasingly popular in Russia. The Russian law allows the parties to remove their existing or future disputes from the competence of the state courts by concluding an “the agreement to arbitrate” or inserting an arbitration clause in their contract. In cases pending before a state court, the agreement to arbitrate may be concluded at any time before the state court makes a decision on the merits. In such cases, the dispute will be subject to the jurisdiction of a private arbitration tribunal...
by Ilya Nikiforov, managing partner of EPA&P St.Petersburg office
To obtain a security for the performance of obligations, a creditor may withhold the things subject to transfer to a debtor or another person designated by a debtor (Art. 359 of the RF Civil Code). The right of withholding in Russian law is effectively similar to liens in common law. It applies not only to contractual but also to quasi-contractual obligations...
by Ilya Nikiforov, managing partner of EPA&P St.Petersburg office
The CPC (Art. 140) and APC (Art. 91) introduce a list of so-called “provisional” or “interim relief” measures designed to prevent concealment of assets by the defendant after initiation of legal proceedings directed against it and to secure enforcement of future judgment...
by Ilya Nikiforov, managing partner of EPA&P St.Petersburg office
Immovable items and everything that is firmly connected with land, i.e. objects that cannot be moved without disproportionate damage to their utilization, are real property. This includes land parcels, subsoil areas, isolated water objects, forests, perennial plantings, buildings and structures. Provisions of law governing rights to real property and transactions with it apply also to aircraft, sea-craft, inland ships, spacecraft and other similar objects (Art. 130 [1] the RF Civil Code). Also a business enterprise as an ongoing economic concern is deemed to be a real property under Art.132 of the RF Civil Code...
by Ilya Nikiforov, managing partner of EPA&P St.Petersburg office
A comprehensive state monopoly on foreign trade was effective in the USSR during socialist times. It was phased out in late 1980s and early 1990s. Today, private persons may conduct foreign economic activity freely, provided that they comply with applicable laws. In particular, compliance with intricate customs, export control and currency regulations is required...
by Ilya Nikiforov, managing partner of EPA&P St.Petersburg office