Corporate law / M&A

The rules have been approved for granting subsidies to small and medium sized enterprises from the industries most affected by the spread of COVID-19

Pepeliaev Group advises that on 24 April 2020, in its Resolution No. 576 the Government approved the rules (the “Rules”) for granting free-of-charge governmental financial aid (the “subsidy”) to small and medium-sized enterprises (the “SMEs”) from the most damaged branches of the economy; SMEs will be able to use the subsidy for the partial compensation of their current expenses including on paying out salaries to their employ

COVID-19: transactions prohibited during the moratorium on bankruptcy

Pepeliaev Group advises on the rules for identifying entities with respect to which the moratorium on bankruptcy was enacted in the light of the coronavirus COVID-19 pandemic, and concerning certain types of transactions which such organisations have no right to enter into while the moratorium is in force.

COVID-19: extension of licences new specific aspects of activities in 2020 that require a permit addressing the issues of the value of net assets of JSCs AND LLCs at the end of 2020

Pepeliaev Group advises that, against the backdrop of the coronavirus COVID-19 pandemic, the Russian Government has established in 2020 new features of licensing, accreditation, evaluation and other procedures related to a company’s activities that require a permit.

The Russian Supreme Court has provided explanations on individual issues of the application of civil legislation associated with the consequences of the COVID-19 pandemic

On 21 April 2020 the Praesidium of the Russian Supreme Court approved Review No. 1 of individual issues of case law associated with the application of legislation and measures to prevent the spread of the new coronavirus infection (COVID-19) in the Russian Federation.

COVID-19: Individual entrepreneurs may file with the registration authority an application for terminating their activities without an electronic signature

Pepeliaev Group advises of changes in the work of the tax authority's “State registration of legal entities and individual entrepreneurs” service.

COVID-19: a simplified procedure of buying out the shares of a public joint stock company

Pepeliaev Group advises of changes to a number of legislative provisions that we expect to be adopted to regulate a simplified procedure for acquiring the placed shares of a public limited liability company during the COVID-19 pandemic.

COVID-19: the timeframes for holding annual general meetings of JSCs AND LLCs; regulating matters concerning the value of JSCs’ and LLCs’ net assets based on the results of 2020

Pepeliaev Group advises about the changes to a number of legislative provisions to be adopted that stipulate the specifics of the regulation of corporate relationships of business companies in the situation of the COVID-19 pandemic.

Covid-19: timeframes for disclosing consolidated financial statements in 2020; Internal auditing and the public regime of a public joint-stock company

Pepeliaev Group advises that amendments are pending adoption to a number of legal provisions regulating individual aspects of the activities of a public joint-stock company, and the procedure and timeframes for submitting and disclosing consolidated financial statements against the backdrop of the COVID-19 pandemic.

A number of amendments have been made to the provisions of the Code of Administrative Offences

In the context of the pandemic and different measures taken by the authorities, a number of amendments have been made to the provisions of the Code of Administrative Offences which significantly increase administrative sanctions for legal entities.

Changes in the procedure for absentee ballots on items on the agenda of general meeting in joint-stock companies Pepeliaev Group advises that there have been changes in the procedure for absentee ballots on items on the agenda of general meetings in joint-stock companies. This is linked to the adoption of Federal Law No. 50-FZ.

New clarifications on how resolutions of business entities must be certified

Pepeliaev Group draws your attention to the clarifications provided by the Federal Notarial Chamber regarding the Russian Supreme Court’s legal positions on how to confirm a resolution adopted by a general meeting.

Introducing the electronic visa regime for foreign nationals crossing the Russian border through checkpoints in St Petersburg and Leningrad region Pepeliaev Group advises that there is an opportunity to obtain an ordinary single-entry business, tourist or humanitarian visa in electronic form for foreign nationals travelling to St Petersburg and Leningrad Region.