Recent Developments of Russian Law

Despite this being a holiday season, the Russian Duma and Russian Government have not been idle. This Newsletter covers a number of very interesting topics which all have significant practical consequences for market players in Russia.

Igor Orlov writes about agreements between participants/shareholders of Russian companies under Russian law. Such agreements were made possible only last year and there is not much court practice to use as guidance. We have drafted several such agreements for our clients in the Moscow office and like to think that we have found the right formula.

Dmitry Milyutin talks about some very important changes in Russian law that currently exist in draft form only but may be promulgated into law in the near future. The changes mainly concern enhancing the liability for company management (i.e., directors) for acting (failing to act) recklessly or in bad faith. Rather peculiarly, the burden of proof that a director acted in good faith / did