On 19 June 2009 the Russian National Committee of the International Chamber of Commerce – the world business organization (ICC Russia) in cooperation with EPAM held the conference «Legal Regulations Today: International and Russian Legal Practices».

The event is designed to provide a platform for debate by the recognized experts to discuss the potential ability of the Russian legislative and judicial systems to react quickly and efficiently to today’s challenges.

Expert opinions on both domestic and international dispute resolution procedures and documentation as well as the specific nature and proceedings of the ICC International Arbitration Court were presented to the Russian audience.

Keynote speakers at the conference included famous Russian and foreign legal academics and practitioners.

In the first session on «Civil Law development in Russia» Dimitry Stepanov presented the audience with the overview of the latest trends in legislation initiative, including LLC law reform, amendments to joint stock company regulation (shareholder agreements and deadlock breaking) and the draft legal initiatives on amendments to the insolvency (bankruptcy) law, and amendments to the part of corporate law relating to improvement of corporate conflict resolution procedures.

«Efficiency demonstrated recently by Russian legislators in response to demands set by realities of life and in reforming the national legislation in order to make it more business oriented, instills great optimism. As soon as enthusiastic remarks regarding the recent «legalization» on shareholder agreements calmed down, the legislators set even more ambitious goals: reform of financial rehabilitation procedures, cross-border bankruptcies, debt-for-shares exchange, and improving the form of incorporation for joint stock companies. Strange as it may seem, the financial crisis only boosted this process and made it more dynamic», says Dmitry Stepanov. (Download presentation - in Russian).

The forum was attended by heads of legal departments at Russian and Western holdings, industrial enterprises, banks and foreign trade companies as well as by representatives of Russian courts, law firms and associations.

EPAM sponsored the conference.