Ilya Nikiforov and Evgenia Evdokimova to Speak at Conference on “Independent Guarantee: International Experience and Russian Practice”

On 25 October 2016, the Russian National Committee of the International Chamber of Commerce (ICC Russia) will hold a conference in Moscow on the theme of “Independent guarantee: international experience and Russian practice” with the support of VTB Bank. Ilya Nikiforov and Evgenia Evdokimova will speak at the event.

On 1 July 2015, new provisions of the Civil Code of the Russian Federation came into effect. The notion of an independent guarantee appeared in place of a bank guarantee, and the regulations governing this instrument became more detailed. The changes were intended to solve numerous longstanding problems as well as bring independent guarantee regulation in Russia into compliance with international practice.

 At the conference, the experts will discuss current issues concerning the practical application of the guarantee instruments and analyse judicial practice and decisions by international arbitral authorities.

 Ilya Nikiforov, Managing Partner of the Firm, will chair the session devoted to the regulation of independent guarantees in Russian law.

Evgenia Evdokimova, Associate at the Firm’s St. Petersburg Office, will present a report entitled “Analysis of Russian judicial practice in disputes related to independent guarantee”.