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Sanctions: legal support for business

Sanctions: legal support for business

FOREIGN CURRENCY REGULATION

Advising on new regulatory acts in the area of foreign currency regulation, including, among other things, on the Russian President’s Decrees regarding special economic measures and additional temporary measures of an economic nature.

Assessing the possibility of counterclaims being set off and of using other ways to terminate obligations under foreign trade contracts or loan contracts concluded with non-residents.

Identifying any prohibitions or restrictions on consummating foreign currency transactions.

Providing support within the scope of interactions with foreign counterparties with a view to preventing violations of Russia’s foreign currency legislation.

Analysing the prospects of challenging fines or having them reduced for the non-compliance with foreign currency legislation; gathering evidence supporting the absence of fault in such offences.

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FINANCE

  • Legal support in the area of legal relationships with credit institutions and other organisations of the financial market (crediting, trade financing, financial instruments, insurance, etc.)

CORPORATE LAW

  • Providing legal support in the course of changing the structure of holding Russian assets to comply with current restrictions and retaining the ability to do business.
  • Providing legal support for changing the corporate management system.
  • Providing advice regarding the procedure for obtaining the required permits/consents to conclude transactions with foreign persons.
  • Setting up companies and relocating production under the preferential regimes of the Free Port of Vladivostok, advanced development areas and special administrative districts in order to decrease the tax burden.
  • Reviewing contracts with foreign counterparties, where a contract cannot be performed taking into account sanctions and in the event of a force majeure, in order to develop a package of measures to mitigate losses.
  • Providing advice regarding issues connected with introduction of the Russian anti-sanctions legislation and measures for supporting business in various spheres, including real estate (among other things, issues connected with beneficial tax rates).

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CUSTOMS MATTERS

Assessing existing and potential prohibitions and restrictions on the import or export of certain goods

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BANKRUPTCY AND ANTI-CRISIS PROTECTION OF BUSINESS

  • Assessing the risks of terminating (suspending) a company’s operations in connection with sanctions, the potential introduction of a mechanism for the external management of a foreign company, bankruptcy legislation, administrative and criminal law liability, and devising hands-on recommendations on how these risks can be mitigated.

  • Developing a strategy for terminating company’s operations in the form of voluntary liquidation or by using the bankruptcy mechanism.

  • Initiating and handling bankruptcy cases on the side of either a debtor or a creditor.

  • Anti-crisis risk management in the context of the deteriorating financial standing of the company and/or its counterparties (mitigating the threat of liability for controlling persons, challenging transactions and actions aimed at performing same, or providing legal support in developing an anti-crisis roadmap).

  • Providing support during the conclusion and performance of contracts in the context of sanctions and potential insolvency of parties to the transaction (assessing the risks of contracts being terminated, obligations being withdrawn from, performance being accepted when the counterparty defaults on its obligations, or when its operations are suspended).

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PHARMACEUTICALS AND HEALTHCARE

  • Offering legal support during the re-registration/indexing of registered prices for vital and essential medicines.

  • Providing legal support on matters concerning the accelerated registration procedure for medicines.

  • Offering legal support during transactions to acquire/sell a business in the sphere of pharmaceuticals in Russia and the EAEU; assisting with restructuring the business of pharmaceutical companies.

  • Advising on the issues concerning changes in the procedure of public procurement of medicines and medical devices.

  • Recommending on state support measures for pharmaceutical companies (preferences, benefits, subsidies, special investment contracts, agreements to protect and encourage capital investments, etc.).

  • Advising on the imports of non-registered medicines and medical devices.

  • Providing legal support during audits of pharmaceutical companies within the scope of state control, representing companies in interactions with supervisory authorities.

  • Protecting companies’ interests in cases concerning administrative offences in the pharmaceutical sector, including with regard to violating the rules for the circulation of vital and essential medicines, narcotic substances and precursors, or medical equipment.

  • Advising on complicated issues concerning the registration, promotion and sale (including through marketplaces) of medicines, medical devices and dietary supplements.

  • Providing legal support in handling complaints and court claims, including where a contract cannot be performed or must be amended/terminated in connection with the circumstances; representing interests in courts of various levels.

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SERVICES FOR THE IT SECTOR

Providing general advice for companies engaged in the IT sector
  • Preparing clarifications and legal opinions on how sanction-related restrictions should be complied with, as well as on other regulatory aspects.
  • Conducting due diligence of Russian and foreign companies as to their compliance with legislation and the case law established against the backdrop of the sanctions.
Services of setting up standalone IT companies in order to obtain benefits and measures of support

Assisting IT companies with obtaining benefits and measures of support
  • Analysing whether it is possible to obtain benefits and measures of support.
  • Advising on how a company should bring its operations in line with the requirements to obtain benefits and measures of support.
  • Assisting IT companies with obtaining state accreditation.
  • Advising on how to interact with state authorities.
Implementing electronic document management (a ‘paperless office’)
  • Reviewing the company’s files from the perspective of a potential transfer to electronic format (contracts and agreements, closing documents, HR-related documents, reporting documents, and others).
  • Conducting a technical audit of the company in order to streamline its transfer to electronic document management (together with our partners).
  • Advising on how all types of electronic signatures should be used during interactions with employees, counterparties, and state authorities.
  • Advising on how procedures should be arranged involving the approval and signing of documents within the company.
  • Preparing a set of documents (policies, guidelines, and agreements) to set up internal/HR electronic document management of the company.
  • Preparing a set of documents to set up electronic document management with company’s counterparties.
  • Advising on how a transfer to electronic document management can affect bookkeeping and tax accounting of the company.
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MONITORING RUSSIAN LEGISLATION ON RESTRICTIONS AND SUPPORT MEASURES FOR BUSINESS DURING SANCTIONS

Today, more than ever, business needs to be kept up-to-date on the legislative agenda. With our digest we make sure that you do not miss out any changes in legal regulation and that you tap into state support measures.

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An example in English