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Defended the interests of a large international bank in connection with the new requirements of the regulator

Our lawyers represented a major international bank in a series of cases over the compulsory conversion of depositary receipts as established by special law No. 114-FZ.

The project was unique because there was no practice of how law No. 114-FZ should be applied, and numerous claims of the same type were filed against various depositories after the tight timeframes for conversion expired for which the law provided. Another unique feature of the case was that the claims rested on the legal provisions which allow for a judge to have wide discretion in interpreting them.

The tasks before our lawyers included: drafting procedural documents, forming a body of evidence and participating in the court hearings. As a result, the courts sided with the bank.

These claims against a depository are new for Russian court practice because they are based on 2022 legislation. The project reflects the specific aspects of how new regulation of investment relationships is applied against the backdrop of sanctions restrictions. 

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