News
18.09.2017 Rules on Disclosure of Information on Beneficial Owners in Russia

Russian legal entities are obliged to determine and store information about their beneficial owners (individuals who control more than 25% of the charter capital). At least once a year they shall update this information and fix it in documents. State authorities are allowed to request such information from the company. Failure to provide it may result in administrative fine of up to RUB 500 000.

29.08.2017 The new publication of Oleg Mosgo in the second edition of the monograph edited by Dr. Gerhard Schlitt and Dr. Gabriel Mueller

The second edition of the monograph edited by Dr. Gerhard Schlitt and Dr. Gabriel Mueller "A statutory share in inheritance: practical guide" (Schlitt/Müller, Handbuch Pflichtteilsrecht, 2nd edition, C.H. Beck-Verlag, 2017), has been recently published in a leading German publishing house for legal literature C.H. Beck. The book is devoted to German and international inheritance law, in particular, to legal regulation of statutory share of successor in inheritance. 

28.08.2017 Reform of the Arbitral Tribunals in the RF

From November 1, 2017, the arbitral tribunals (treteyskiye sudy) that failed to obtainthe permission from the Government of the Russian Federation will no longer be allowed to heardisputes. Introduction of theauthorization-based order of granting the right toestablish institutional arbitral tribunalsis aimed at achievingone of the main objectives of the non-governmentalarbitrationreform in Russia, namely, combatting "puppet" arbitral tribunals, enhancing trust to arbitration and improving its quality.

21.07.2017 Cadastral Value: FAQ and What's New in the Law

In 2016, the rules for determining cadastral value changed. The changes consisted, on the one hand, in the suspension of provisions of the Federal Law “On Appraisal Activities” that previously regulated the procedure for state cadastral appraisal (hereinafter, SCA), and, on the other, of the adoption of the Federal Law “On State Cadastral Appraisal”.

01.06.2017 The Russian Migration Registration Rules Become More Rigorous for the 2017-2018 FIFA Tournaments

By his Order No. 202 dated May 9, 2017, the President of Russia introduced enhanced security measures for the period of the FIFA Confederation Cup Russia 2017 and FIFA World Cup Russia 2018. These measures include, among others, rigorous migration registration rules for foreign nationals visiting the Host Cities during these periods.

29.05.2017 Major investment project in Moscow Region: Mosgo & Partners counsel SARIA group

Mosgo & Partners advised SARIA, a major service provider in the sphere of re-cycling of bio-organics, livestock and by-products from the meat and fish industries, in a multi-million agreement with the Government of the Moscow Region.

13.05.2017 Lowering the priority of claims of interested creditors in bankruptcy

Controlled bankruptcy, where the affiliates of the bankrupt debtor appoint a liquidator and determine the fate of voting within the framework of bankruptcy proceedings, is one of the dangers awaiting the debtor’s independent creditors. In controlled bankruptcies, no small part goes to the practice of accumulating real debts in the hands of the debtor’s affiliates, including where the founder had extended loans to the debtor company, which eventually formed the major part of creditor claims in bankruptcy.

27.02.2017 If Beneficial Owners Cannot Be Identified, How Can a Company Prove the Measures Undertaken

In the Mosgo and Partners Newsletter of 15 November 2016, we stated that all Russian companies must identify their beneficial owners, i.e., the individuals who ultimately directly or indirectly own more than 25% of the charter capital of the legal entity in question or can other wise exercise control over its actions.

20.02.2017 Astreinte in Russia: a Way to Compel the Debtor to Execute the Judgment on Specific Performance

Russian legislation and court practice have developed a new method of forcing debtors to execute judgments on specific performance – namely, judicial forfeit, or, how scholars call it – astreinte, which is paid to the creditor (claimant).

What is astreinte, in which cases can it be requested and what are the real sums that courts tend to award? Please see the answers to these questions in our newsletter below.

23.12.2016 Purchasing Immovable Property from Individuals in Russia: Why Marital Status of the Seller Is Important

When buying immovable property or shares in a company from an individual in Russia, one should take into account the potential rights of the seller’s spouse. Spouses in Russia have common ownership to any assets acquired by either of them while married (unless they have a marriage contract that provides otherwise).