PUBLICATIONS

Vietnamese banks have tightened the terms of settlements for Russian businesses: now they make payments subject to the delivery of goods to the country or if there is a Vietnamese citizen among the founders of the company. Banks are more willing to make payments if the “Russia-Vietnam” link is transparent: there is a counterparty in […]

Assets of grain trader Louis Dreyfus in Russia may go to top management The heads of Russian enterprises of the international grain trader Louis Dreyfus are trying to collect wage arrears from its liquidated structures. Subsequently, they may gain control over the company’s remaining assets in Russia worth 2 billion rubles. Finding third-party interested parties

The Supreme Court of the Russian Federation has accepted for consideration the cassation appeal of the Federal State Unitary Enterprise Krylov State Research Center against the decision to collect a penalty in the amount of 90 million rubles in favor of JSC Baltic Shipyard. As follows from the court’s ruling, a contract was concluded between

A massive bank audit was carried out in the United Arab Emirates (UAE) in the spring, aimed at identifying the scale of companies’ work with Russia. After the bank audit, the UAE began a wave of purges of companies with Russian roots – they can be blocked and their accounts closed not only because of

Investors have been offered a new way to unblock frozen assets – through trust management, Vedomosti learned. Such a service is available at Nordic Star. Creating trusts in “friendly” jurisdictions (Seychelles) and transferring them to trust management (Cyprus) allows you to bypass the ban on opening accounts for Russians, but requires double permissions from sanctions

The Ministry of Justice proposes to expand the powers of arbitration courts (non-governmental judicial bodies) resolving disputes under economic and business contracts between legal entities. The department wants to introduce a mechanism for the compulsory execution of interim measures adopted by arbitration courts, as well as to establish a rule on the compulsory execution of

In June, the courts resolved several disputes over compensation for assets frozen in Western depositories. Practice has shown that there is no unified approach yet: few companies manage to recover the full value of securities, and the Supreme Court insists that only lost income should be compensated. At the same time, in many such disputes,

The hospitality industry has faced many challenges in recent years, including five-year overtourism and a shortage of quality hotels. This creates a need to find new approaches to attract investment. Modern investment instruments such as funds and digital financial assets (DFAs) are becoming the main ways to raise capital for the hotel sector. However, potential

From 2028, the Sultanate of Oman will become the first Gulf Arab state to introduce a personal income tax. This significant change in tax policy marks a new stage for business in the region, where direct taxes on personal income have not traditionally been applied. Oman is becoming more attractive to Russian businesses against the

The Moscow Arbitration Court has ruled that the US bank JP Morgan Chase must pay more than $5 million to Hong Kong-based GTLK Asia, a subsidiary of Russia’s state-owned GTLK, which is under US sanctions. The court found that blocking the funds in August 2022 violated Russian law. Although the contract between GTLK Asia and