Banking and finance

Conducted an audit of restrictions on transactions with foreign securities The practice's team advised the client on regulatory and foreign currency restrictions imposed on a broker to conduct transactions with foreign securities for its benefit and for the benefit of its clients, including individuals who are Russian nationals.

Drafted a bank guarantee for over CNY 15 million for a Chinese counterparty Our lawyers advised a Russian company on how international rules for bank guarantees (URDG 758) should be applied and were also involved in preparing a draft bank guarantee and in having it negotiated with the Chinese guarantor bank.

Provided legal support with regard to a transaction for over RUB 1 billion in the banking sector The team of the practice provided legal assistance under a project of a major international bank operating in Russia which involved the assignment of a large portfolio of credit cards to another bank.

Protecting a major international bank's rights to securities with a total value of nearly RUB 1 billion. Pepeliaev Group's banking practice, together with colleagues from the bankruptcy and anti-crisis protection of business practice, had success in lawsuits, protecting a major international bank's rights.

Having bank loyalty programmes exempted from being additionally taxed The firm’s lawyers represented one of America's largest finance corporations in a complex tax dispute that touched on various issues concerning the taxation of banking activity. The case was an important precedent for the entire banking sector. Pepeliaev Group’s lawyers managed to prove, before the Presidium of the Russian Supreme Commercial (‘Arbitration’) Court, that the fact of VIP clients receiving bonuses from banks does not generate taxable income. The decision that the Supreme Commercial Court issued in helped to protect banks’ loyalty programmes from being additionally taxed. Such disputes set important precedents for the entire banking sector.

Building a position on the disclosure of information concerning controlling parties Our Banking and Finance Practice’s team advised a large foreign investment fund. The project resulted in the formation of a position on the disclosure of information of controlling parties, beneficiaries, and beneficial owners with respect to investment in the financial sector.

Representing a bank in a dispute concerning consumer protection Pepeliaev Group’s lawyers represented a Russian subsidiary bank, part of a major international financial corporation, in the courts of the first instance and appeal in a series of interrelated disputes involving the protection of consumer rights in banking and financial services. We provided integrated support during the litigation, which encompassed a range of legal issues relating to consumer protection in the area of banking services. The case set an important precedent for the financial market as a whole.

Legal support to a client selling its subsidiary bank The practice’s lawyers represented Hellenic Bank PLC, a Cyprus bank, when it was selling its 100% stake in its Russian subsidiary LLC CB Hellenic Bank to several Russian-based investors.

Successfully representing a client who was a creditor in a bankruptcy case Pepeliaev Group’s lawyers successfully safeguarded the client's multi-million dollar interests as a creditor in a hostile environment (deliberate bankruptcy of the debtor). The task included: (i) contesting controlled monetary claims of creditors affiliated with the debtor, (ii) analysing counterclaims of an affiliated creditor, establishing the elements of a crime in the concerted actions of creditors and debtors and instituting criminal proceedings, (iii) ensuring that the interests of our clients were complied with in creditors' committees; (iv) interacting with the receivers; (v) establishing the rights of the clients to pledged real estate; (vi) preparing debtors' property to be sold at auction; and more.

Support during the registration of a new bank in Russia Our Banking and Finance Practice’s lawyers represented one of Korea's largest financial groups during the process of the creation of and the obtaining of a licence for the Russian subsidiary of Korea Exchange Bank. The task set before our team of experts was to provide support throughout the entire process of registering and obtaining a licence for a new bank in Russia, including drafting the set of documents and filing these documents with the regulatory authorities. Our lawyers’ efforts resulted in the bank receiving its licence.

Consumer protection law litigation Representation of the Russian subsidiary of a major international bank in Russian courts (including the Supreme Court) in a series of interconnected disputes that encompassed a wide range of legal issues relating to consumer protection legislations in the area of banking services.

Tax litigation Representation of Russian and major international banks in disputes with Russian tax authorities on a wide range of issues relating to taxation of banking activities in Russia.

Bankruptcy litigation Representation of banks in bankruptcy proceedings, including related advice on criminal law aspects of fraudulent bankruptcies

Lending transactions support Representing major Russian and international banks in lending transactions with Russian borrowers, including cross-border loans.

The taxation of financial instruments Advised a Russian stock exchange and other financial institutions on the taxation of derivatives, including in relation to transactions with options, futures and other instruments.

M&A of financial institutions Representing clients in M&A transactions involving financial institutions, as well as legal advice in connection with investment in, and disposition of shares in Russian financial institutions.

Bank registration and licensing Representing Russian and foreign financial institutions and investors in the registration, licensing and reorganization of banks and other financial institutions in Russia.