Forced (mandatory) conversion of GDRs of VK (VKONTAKTE) has started
VK (VKONTAKTE) has announced the beginning of the forced (mandatory) conversion of its Global Depositary Receipts (GDRs). Filing of the Application for forced conversion with the Russian Registrar AO “MRZ” (JSC IRC, “Registrar”) to initiate forced conversion of VK GDRs is possible starting from 25.09.2024. The forced conversion will be over on 22.01.2025.
Machine Readable Powers of Attorney (MPA): How should a representative sign documents in Russia from 1 September?
The issue of introducing an MPA for corporate officers has been raised for some time. The idea of a MPA, which can be executed and revoked immediately by the CEO, seemed to be a favourable alternative to the issuance of an MPA by the company to a physical person, which gives such a representative broad and virtually uncontrollable powers.
Theoretical provisions on certain methods of securing fulfilment of obligations in the private law of Russia and Germany
Konstantin Zakharenko (Master of Laws, lawyer at MAGENTA Legal) has published an article in the scientific-practical journal “Modern Law”, which has been published since 2000 and is included in the list of the Supreme Attestation Commission. The article is devoted to the problem of determining the role, functions, procedure of application and legal nature of methods of ensuring the fulfilment of obligations in Russian and German private law.
Extension of the term of office of the general director: you have time until 1 September
Important information for all limited liability companies (OOO). From 1 September 2024, the appointment of the general director (the sole managing body) will only be possible through a notary. This affects all OOOs.
Fighting counterfeit products on marketplaces
MAGENTA Legal continues to support an important project in the field of intellectual property protection. The lawyers are fighting against counterfeit products sold on Russian marketplaces.
LLC Board Appoints CEO in Russian Federation: Amendments Effective 1 September 2024
New amendments on the Decisions of the general meeting on the election (appointment) of the chairman of the board of directors
Leaving the Russian market: the Government Commission's approval
We don't often write about what we've achieved and tell you about ourselves. However, today we would like to share with you the news of another transaction approval by the Russian Government Commission. As our recent communication with clients shows, this issue is still of interest to foreign shareholders and investors.
Lukoil, Tatneft, Rostelecom, PhosAgro: conversion of depository receipts extended till 01 October 2024
Positive news for the holders of Lukoil, Tatneft, Rostelecom and PhosAgro depository receipts (DRs) – according to Citibank's recent announcement, Citi shall keep their books opened till 01 October. It means that currently the last day of conversion of these DRs will be on 30.09.2024.
OFAC has authorized transactions with NSD till 12.10.2024 – possible option for prolongation of DR conversion
The U.S. Treasury Department's Office of Foreign Assets Control (OFAC) has issued 2 general licenses under which certain transactions with the Russian National Settlement Depository (NSD) can be made until 12.10.2024. This means that communication with the Russian NSD will be possible for at least the next 2,5 months.
Signs of splitting up the business: the Federal Tax Service has summarised the positions taken by the courts
Courts regularly consider disputes between the Federal Tax Service of the Russian Federation (FTS) and taxpayers in connection with splitting up of a business. Business splitting is an artificial distribution of income between several persons (entities), which covers the actual activity of one business entity that does not meet the statutory conditions for the application of a special tax regime (for the sake of brevity we will write ‘USN’).
- 1
- 2
- 3
- 4
- 5