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Linklaters CIS

PAVELETSKAYA SQUARE 2, BLD 2, 115054 MOSCOW
Warsaw, Tokyo, Stockholm, Singapore, Shanghai, São Paulo , and 21 more

What we say about the firm's legal practice in Russia

Banking and finance

Within Banking and finance, Linklaters LLP is a first tier firm,

Michael Bott leads Linklaters CIS’ finance practice, which one client hailed as ‘the best in Russia bar none’. Highlights for 2008 included advice to the issuers of a $5.2bn bank guarantee to support Gazprom’s mandatory offer to the shareholders of Mosenergo, and the arrangers on a brace of billion-dollar loans to Mechel: a $2bn facility to finance its acquisition of the Yakutogol coal assets and a $1.5bn bridge facility to finance its takeover bid for Oriel Resources. Andrei Murygin is recommended for structured finance and derivatives work, with the firm advising the lead arrangers on the RUR10.7bn residential mortgage-backed security by CJSC ‘Second Mortgage Agent of AHML’. The firm’s clients, which include ABN AMRO, BNP Paribas and Morgan Stanley, were quick to praise Dmitry Suschev.

Capital markets

Within Capital markets, Linklaters LLP is a first tier firm,

Linklaters CIS’s standing in the market is such that clients feel it to be ‘always the first port of call for Russian underwriter work’. Led by ‘technical genius’ Dmitry Dobatkin, the team advised Barclays Bank as arranger and lead manager of a $2.35bn equity-linked notes issue by Linden Capital; the underwriters on a $2.14bn accelerated bookbuild offering by Norilsk Nickel; and the lead managers on four issues – with an aggregate value exceeding $2bn – under Gazprom’s $30bn LPN programme. Newly promoted partner Pete Allen relocated to Moscow from the firm’s London office, while clients praised Andrew Burge’s DCM expertise.

Corporate and M&A Moscow

Within Corporate and M&A Moscow, Linklaters LLP is a first tier firm,

Led by ‘outstanding’ managing partner John Goodwin, who offers ‘commercially-focused and pragmatic advice which is based on an in-depth understanding of his subject’, Linklaters CIS’ corporate practice is praised by clients for its ‘considerable strength in depth and all-round excellence’. Highlights for the team in 2008 include advice to Axa on its €810m acquisition of a 37% stake in Russian insurer Reso Garantia; Inchcape on its $700m acquisition of a 75% stake in Musa Motors; and Suek on its blocked $16bn joint venture with Gazprom. The firm should ‘definitely be a recommendation for any M&A matter’, say clients, who find associate Mikhail Semyonov to be ‘very much in the Linklaters mould and, as such, extremely responsive’ and appreciated the ‘honest and straightforward’ firm’s ability to ‘understand the market and take a position on risks’. Denis Uvarov also comes highly recommended, while Grigory Gadzhiev has been promoted to the partnership.

Dispute resolution

Within Dispute resolution, Linklaters LLP is a second tier firm,

Linklaters CIS’ Moscow disputes practice is led by Alexei Dudko, a ‘very talented lawyer that provides direct, commercial advice with the minimum of fuss’. Recent highlights for the team, which works closely with London-based partner Tom Lidstrom, include advice to BP on a range of issues relating to the high-profile dispute with AAR as part of the TNK-BP joint venture. The firm’s ‘international experience gives it a telling advantage in complex multi-jurisdictional disputes’, while clients were also impressed with its ability to ‘deliver practical solutions to complex matters under significant pressure and time constraints’.

Employment

Within Employment, Linklaters LLP is a first tier firm,

Linklaters CIS’ ‘experienced’ consultant Henry Rustein is ‘likely Moscow’s top employment lawyer – he has an encyclopaedic knowledge of relevant law and regulation, combined with exceptional contacts and relationships with the working levels of related bureaucracies’. Rustein has particular expertise in immigration, and recently advised BP on a range of issues, including the establishment of its branch in Russia and subsequent receipt of work permits and visas for its expat employees. The team has acted for clients such as Lehman Brothers and UBS in eleven regions of Russia.

Energy and natural resources

Within Energy and natural resources, Linklaters LLP is a first tier firm,

Daniel Tyrer’s ‘fantastic’ team at Linklaters CIS has seen an increase in financing work on downstream petrochemical projects. 2008 saw the ‘flawless’ firm advice the banks on the $1.5bn bridge finance for Gazprom and BASF’s Yuzhno-Russkoye gas project, Total E&P on its participation in the Shtokman gas field and Shtokman LNG project, and Gazprom Export and Gazprom on Nord Stream and their asset swap with Gasunie. Denis Uvarov and senior associate Julia Voskoboinikova are highly recommended.

Real estate

Within Real estate, Linklaters LLP is a first tier firm,

Linklaters CIS has a fantastic name for corporate real estate, with team head Xavier Hunter ‘a genuine superstar’. The firm advised Raven Russia on leasing in relation to its portfolio; Ivanhoe Cambridge on its acquisition of the ‘Vremena Goda’ shopping centre in Moscow through a joint venture with Europolis; and AIG/Lincoln on a range of issues, including the establishment of a joint venture for the development of a 240,000 sq m Class A mixed-use complex in Moscow. ‘The quality of their work and clientbase is hard to fault’, and counsel David Harpum is also recommended.

TMT

Within TMT, Linklaters LLP is a third tier firm,

Led by managing associate and IP litigator Anton Pushkov, Linklaters CIS recently advised High Technologies Telecommunications on its acquisition of a number of Russian WiFi network providers. The firm’s quality saw it appointed as Russia counsel to BT, while other clients include Microsoft and Vodafone.

Tax

Within Tax, Linklaters LLP is a second tier firm,

Linklaters CIS’ tax offering primarily operates in support of the firm’s top tier corporate and finance practices. The practice has recently assisted on deals such as the RUR10.7bn residential mortgage-backed security by CJSC ‘Second Mortgage Agent of AHML’, and Suek’s planned $16bn joint venture with Gazprom. Managing associate Victor Matchekhin leads the team.

What we say worldwide

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Libya

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Oman

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Philippines

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Portugal

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Qatar

Russia

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Sweden

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Singapore

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South Korea

Thailand

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Tunisia

US

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Search News and Articles

Legal Developments in Russia

Legal Developments and updates from the leading lawyers in each jurisdiction. To contribute, send an email request to

  • Tax Reforms Towards the Creation of an International Financial Center in Russia

    In December 2009 the Russian Parliament adopted important changes further promoting the Russian holding companies regime. Starting from January 1, 2011 Russian holding companies will no longer be required to meet the present 500 million ruble threshold for investments made into companies qualifying as “strategic investments” to receive tax benefits.
    - Baker & McKenzie

  • Rules for Tender Selection of Joint Implementation Projects under Kyoto Protocol

    On October 28, 2009, the Russian Government adopted two enactments concerning joint implementation projects under the Kyoto Protocol to the United Nations Framework Convention on Climate Change (the "Kyoto Protocol") in the Russian Federation, namely:
    - Baker & McKenzie

  • Federal Law "On the Principles of State Regulation of Trading Activity in the Russian Federation"

    On 1 February 2010, the Federal Law "On the Principles of State Regulation of Trading Activity in the Russian Federation" (the "Law") comes into force, which will substantially change the rules applicable to trade activities.
    - Baker & McKenzie

  • New Rules for Issuing Domestic Secured Bonds In Russia

    Starting January 2010, amendments to Federal Law No. 39-FZ “On the Securities Market” dated 22 April 1996 entered into force, affecting the issue of domestic bonds by Russian issuers. The new rules will apply to all domestic bond issues to be placed in the market after 31 December 2009.
    - Baker & McKenzie

  • 2010 quota for foreign workers distributed. List of quota-exempt professions for 2010 approved.

    In accordance with the order distributing the 2010 quota of work permits, a fixed number of work permits can be issued in each Russian region to work in different professions. Thus, for example, for Moscow the general quota for all professions is established at 250,000 work permits (which is considerably less than in 2009), and for St. Petersburg – 210,066 work permits.
    - Baker & McKenzie

  • Formation of the Customs Union of Russia, Belarus and Kazakhstan

    Russia, Belarus, and Kazakhstan will adopt new unified customs tariff and non-tariff regulations from January 1, 2010, and the Customs Union (the “CU”) of the three countries of the Eurasian Economic Community (the “EurAsEC”) will become a reality. The CU Customs Code (the “Customs Code”) is expected to take effect from July 1, 2010 to regulate the resulting integral customs zone.
    - Baker & McKenzie

  • New developments in Russian legislation on saving energy and increasing energy efficiency

    Federal Law No. 261-FZ “On Saving Energy and Increasing Energy Efficiency, and on Amendments to Certain Legislative Acts of the Russian Federation” came into force on November 27, 2009 (the “Law”), with certain provisions of the Law taking effect later. Changes to the Tax Code of the Russian Federation, for example, became effective on December 27, 2009, and those to the Code of Administrative Offences of the Russian Federation (the “Administrative Code”) take effect on June 22, 2010.
    - Baker & McKenzie

  • Changes re Criminal Liability and Prosecution of Tax Crimes

    On December 29, 2009 the RF President signed a law introducing important changes to criminal liability for tax evasion. It is established that a person violating the tax legislation may be relieved of criminal liability if the respective outstanding taxes and penalties connected to a crime are paid to the budget.
    - Baker & McKenzie

  • Revised Draft of the Law on Circulation of Medicines Prepared

    An amended version of the draft Federal Law "On Circulation of Medicines"  was placed on the website of the Russian Ministry of Healthcare and Social Development on December 3, 2009. The initial Draft Law was published on the same website on July 8, 2009, attracting much attention and criticism. Many suggestions were made to improve the initial Draft Law so as to ensure the effective functioning of the Russian pharmaceutical market. 
    - Baker & McKenzie

  • Development of anti-insider trading and market manipulation legislation in Russia

    Federal Law of the Russian Federation No. 241-FZ of 30 October 2009, "On Making Amendments to the Criminal Code of the Russian Federation and Article 151 of the Criminal Procedural Code of the Russian Federation" ("Law No. 241") was published on November 3, 2009.
    - Baker & McKenzie
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