Russia’s competition authority, the Federal Antimonopoly Service (FAS), has proposed amendments to eliminate the discrepancy in different definitions of a cartel in Russian competition law and the country’s criminal code, Andrey Tenishev, head of the cartel division at FAS, told PaRR. A definition given to a cartel in antimonopoly law will be integrated into criminal law, he explained.
The financial crisis took a heavy toll on Central and Eastern European economies. But local experts are confident that a recent spate of M&A activity could revive once-flagging deal flow.
Ukrainian corporate legislation is as young as the country. It sprang up when Ukraine declared its independence in 1991. That’s also when demand for foreign legal counsel among local businesses skyrocketed, a trend that continues today, lawyers say.
The minor countries of the CIS region have attracted less interest than their larger, louder neighbours but this is still a valuable region.
Russia’s investigators will be able to obtain statements on bank transactions and accounts held by companies and individual entrepreneurs, as well as data on operations, accounts, and deposits by individuals, only on the basis of a court order. Russian President Vladimir Putin signed the amendment into law at the end of June. Both chambers of parliament had approved the bill.
Depositors may be licking their wounds, and hoping for some kind of structured assistance by Russia to crippled Cypriot banks, but only a small number of Russian companies are leaving the island.
In the first changes to be made to the rules of the institution since their debut in 2007, tribunals have been given five extra days to communicate an award to the parties, with scope to extend that period by the ICAC president still further in “exceptional circumstances”. Other provisions on the general duration of a case, set at six months, remained unchanged.
Have you just been appointed at a high position in Ukraine? Congratulations and beware – you’re in for a legal roller-coaster that could take up to half a year.
Parties to an alleged Pollock fishing cartel in the Russian Far East could face charges from international regulatory authorities, several Russian antitrust lawyers told PaRR.
Russia and Ukraine are likely to reach an agreement over the contentious issue of automobile salvage fees without either side referring the dispute to the World Trade Organization (WTO), lawyers familiar with the process said.
The authorities are developing new urban planning regulations within the Boulevard Ring, according to which the volume of construction will be limited. The "surgical cutting" may well reach 200,000 sq.m.
Iran's lawsuit against Russia for its refusal to supply S-300 air-defence systems could have serious political consequences. Kommersant has learned that the leadership of the Russian Federation has made the decision that unless Tehran withdraws the suit, Moscow will deprive it of international support and occupy a tougher position on Iran's nuclear problem. Moreover, Kommersant has learned that the claims of the Iranian authorities that the sum total of the lawsuit that they have filed amounts to only $900 million (not almost $4 billion) do not entirely correspond to reality.
Ukrainian business magazine "Status" published a comment of Sergey Grebenyuk in the article researching the necessity of Tax Police disbandment
Ukrainian newspaper Kyiv Post presented own ranking of top M&A and corporate and banking and finance law firms in Ukraine
On weekends, holidays and the days of major cultural events, Moscow's center may be announced as a car- free zone. The authorities promise to account for all the consequences of the restrictions for thecapital's transport system and to organize additional parking spaces in locations where the blockages are set up. However, how will the new measure affect retailers located on the central streets?