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Baker & McKenzie - CIS, Limited

WHITE GARDENS, 9 LESNAYA STREET, 125047 MOSCOW, RUSSIA

Tel:: Work +7 495 787 2700
Fax:: Fax +7 495 787 2701

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Web:: www.bakermckenzie.com; https://twitter.com/bakermckenzie

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Konstantine Kouzine

Tel:: Work +7 495 787 2700
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Russia

Real estate and construction

Within: Leading individuals

Konstantine Kouzine - Baker & McKenzie - CIS, Limited

Within: Real estate and construction

Providing ‘highly reliable and well-targeted strategic advice, which is up-to-date with all recent market trends’, Baker & McKenzie - CIS, Limited handles all legal aspects of real estate and construction. The ‘exceptionally strong’ team is led by Konstantine Kouzine, who is ‘a brilliant real estate expert and problem solver’. Maxim Kuznechenkov has ‘remarkable market knowledge and negotiation skills’ and ‘understands real estate matters from the perspective of corporate occupiers’. Highlights included assisting the Agency for Housing Mortgage Lending with the $400m acquisition of a 42-storey office tower.

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Baker McKenzie LLP

The New Turkish Code of Obligations: Important Changes for Leases of Residential & Business Premises

For decades, the primary Turkish laws governing leases of residential and business premises have been the Law on Leasing Real Property dated May 27, 1955 (the “Lease Law”) and the Turkish Code of Obligations No. 818 dated April 22, 1926 (the “Obligations Code”). Both of these laws, however, will be repealed and replaced with the new Turkish Code of Obligations No. 6098 dated January 11, 2011 (the “New Obligations Code”), which will enter into force on July 7, 2012.

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Legal Developments in Russia

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Bryan Cave Leighton Paisner (Russia) LLP acts for OOO Double against Vkontakte

Bryan Cave Leighton Paisner (Russia) LLP is acting for Skolkovo resident OOO Double in a dispute with VKontakte over the Client’s use of public data from the social network in a search engine manner. The Double Data software involved was developed by our Client on the basis of its own big data search, storage and mining methods and algorithms.

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The coming into force of the legislative package on the second stage of "Capital amnisty"

On 19th February 2018, a legislative package on the extension of the tax capital amnesty and the tax-free liquidation of foreign companies came into force.

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One of the biggest and most popular Internet companies, LinkedIn, has become the first target of the recent Russian data localization law. The legislation requires businesses operating online to keep Russian Internet users’ data on servers located within Russia. Read more...

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New standards on the unjustified tax benefit included in the tax code

The Federal Tax Service of Russia issued Letter № CA-4-7/ 6152 @ of 16.08.2017, in which it clarified to its subordinate tax authorities the application of new Art. 54.1 of the Tax Code of the Russian Federation "Limits on the Exercise of Rights in Calculating the Tax Base and (or) the Amount of Tax, Levy, Insurance Contributions", which was included in the Tax Code of the Russian Federation by Federal Law № 163-FZ of 18.07.2017.

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Information law for company participants – the search for a balance of interests

At the present time, in various legal relationships there exists the acute problem of observing a balance of interests concerning the parties involved in these legal relationships, their legal rights, and their mutual economic needs. Judicial practice, when considering disputes between these kinds of parties, takes into consideration not only the formal requirements of legislation, but also the real economic and legal goals and interests of the participants.

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What businessmen should know about legislative changes with major and interested transactions?

It is well known that before making significant managerial decisions, the general director must obtain approval from the shareholders or the board of directors. Apart from that, if a director is personally interested in entering into a transaction, approval is also required to proceed with the transaction. In the absence of such an approval, the transaction can be challenged and, in certain circumstances, invalidated. In order to minimize such risks and to eliminate legal uncertainty for the parties to the transaction, the rules governing major transactions and interested transactions must be sufficiently clear. Previously, however, the application of these rules was associated with a large number of controversial legal issues, which were finally solved as a result of the legislative amendments, which will enter into force on January 1, 2017. According to the new amendments, the distinction between major and non-major transactions has been delineated more clearly, parties have been allowed more flexibility in relation to approving transactions, the burdensome obligation to obtain prior approval of interested transactions has been abrogated, and finally the procedure for challenging transactions in question has been made much more complex. Overall, the changes should have a positive influence on business, as they contribute to the establishment of firm legal certainty in this area of the law.

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The rent for leases, especially those in downtown Moscow and other large cities, is often based on the foreign currency exchange rate, which has recently increased almost threefold. Many businesses have been taken aback by this consequence of the economic crisis. Some of them have been put on verge of bankruptcy because of the increased rent and were forced to seek remedies in courts.

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Konstantine Kouzine

Work Department

Russia

Real estate and construction

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