The Legal 500

Legal Developments worldwide

• AMENDMENTS ARE BEING PREPARED TO LEGISLATION REGARDING FOREIGN INVESTMENTS IN STRATEGIC COMPANIES

  Elena Sokolovskaya, Head of Antimonopoly Regulation; Sergey Spasennov, Partner, Head of St. Petersburg office; Egor Lysenko, Head of Krasnoyarsk office, Pepeliaev Group The State Duma is preparing to consider in the second reading a draft law  that will significantly amend Federal Law No. 57-FZ ‘On the procedure for making foreign investments in business entities of strategic importance to ensure national defence and state security'. The draft law was passed in the first reading in May 2013 and is scheduled to be considered further in April 2014. The goal of new amendments is to simplify even more the control mechanism, eliminate extra administrative barriers for foreign investors and to create favourabe investment climate. For the second reading of the draft law, the Russian Federal Antimonopoly Service (the ‘FAS') prepared a number of amendments that have not been approved yet by the Russian Government (these amendments are posted on the FAS's official web site ). Below are the main provisions of the draft law and amendments to it.
  - Pepeliaev Group

• 2019 UNIVERSIADE IN KRASNOYARSK: WHAT IT MEANS FOR BUSINESS

  Andrey Tereschenko, Partner (Tax); Alexey Konevsky, Partner (Real Estate and Construction); Egor Lysenko, Head of Siberian office in Krasnoyarsk; Sergey Spasennov, Partner and Head of Saint Petersburg office Preparations have started for staging the World Winter Universiade 2019 in Krasnoyarsk. There are several issues that companies face when major international sport events are staged in Russia. On 14 January 2014, the Russian President signed Decree No. 16 ‘On preparing for the XXIX World Winter Universiade 2019 to be staged in Krasnoyarsk' (‘Universiade 2019'). This decree is a framework document addressed, first of all, to the Russian Government, which is charged with carrying out a set of organisational actions to prepare for Universiade 2019, as well as to executive authorities of constituent entities of the Russian Federation, which are recommended to participate in carrying them out. In particular, the Russian Government needs to: establish an organising committee; develop and carry out, in cooperation with the government of the Krasnoyarsk Region, measures aimed at preparing and staging Universiade 2019; determine the list of capital construction facilities belonging to the Russian state, which are required to prepare and stage Universiade 2019 with financial support from the federal budget; assist with covering in the state mass media how Universiade 2019 is being prepared and staged.
  - Pepeliaev Group

• Why Greece? And Why Now? Where and How? A safe road map to the new locomotives of the Greek restart

  Since the beginning of the crisis, a heated debate is going on among politicians and scholars, inside and outside the country, on who's responsible and whether the austerity measures, adopted as a condition for the financial assistance by international lenders, has been successful, proportionate and fair.
  - Drakopoulos Law Firm

• Modernization of temporary work - CBA no. 108 declared generally binding

  Due to the Royal Decree of 26 January 2014 CBA no. 108 concerning temporary employment and temporary work is now generally binding.
  - Claeys & Engels law firm

• Different treatment of blue-collar and white-collar employees in the field of occupational pensions

  On 12 February 2014 the National Labour Council has given its unanimous advice on the harmonization of blue-collar and white-collar employees in the field of occupational pensions.  Any distinction regarding future periods of employment should be eliminated by 1 January 2025 at the latest.
  - Claeys & Engels law firm

• As from 1 April 2014 dismissals need to be motivated by the employer

  - Claeys & Engels law firm

• Update: Tchenguiz-Immerman -v- Immerman [2013] EWHC 3627 (Fam)

  The English Family Division orders disclosure by beneficiaries of documents relating to private trustee proceedings to which they were convened.  Read more...
  - Mourant Ozannes

• Calling time: Jersey Royal Court clarifies limits of customary law exception

  The Jersey Royal Court has ruled that, where a newly incorporated private trust company (PTC) recently appointed as successor trustee seeks to bring claims for breach of trust against predecessors, it will not be able to benefit from the Jersey law doctrine of empêchement d'agir (which can stop the limitation clock from running in situations of practical impossibility) where it was not in existence at the time that the deadline for bringing claims had expired.  Read more...
  - Mourant Ozannes

• Judicial Committe to Liquidate cancelled Projects in Dubai

   
  - Galadari & Associates

• EU/CEE: Perceptions and Experiences of Corruption in EU Member States

  On 3 Feb 2014, the European Commission released its Anti-Corruption Report (COM 2014/38 final)[1], which provides comprehensive analyses of corruption within the EU member states, national preventive measures in force, and suggestions for legislative improvements. With this report, the Commission is striving to provide momentum to a pan-European debate on anti-corruption issues and to assist Member States in identifying ways to improve anti-corruption work at the national level. read more...
  - Schönherr