Legal Express: June 2015

03.07.2015

We are pleased to bring you the new issue of our Legal Express, covering the most significant legislative changes related to entrepreneurial activities that took place in Russia in April, May and June 2015:

The State Duma is considering the draft bill on introduction of criminal liability for legal entities. If adopted, it will allow holding liable not only the legal entity itself, but also its head officers.

The Civil Code will regulate in detail the syndicated loans; the rules for claiming penalties for violation of monetary obligations will also be changed. The respective propositions are currently being reviewed by the State Duma.

Corporate disputes will be allowed for resolution by arbitral tribunals. In case of damages caused by the arbitrators and the arbitration institution to the parties of arbitral proceedings, the latter will have the right to claim compensation. This is envisaged by a new draft bill introduced into the State Duma.

Foreign employees will have to comply with a list of requirements established by the Government.

There were also a number of more general legislative changes in these months, which are also covered in the English and Russian issues of our Legal Express.