On 27 June 2014 a business breakfast meeting took place at the St. Petersburg Law Office of EPAM under the header ‘New Civil Code Regulations for Legal Entities’.

The new version of part IV of the Russian Civil Code, which is to come into effect on 1 September 2014, was the subject of the event. It may be said without exaggeration that this is one of the most anticipated and sought-after packages of amendments to the Civil Code.

The business breakfast opened with a speech from Vsevolod Baibak, Ph.D., Counsel and Head of Construction Practice at the St. Petersburg Law Office of EPAM. Vsevolod reviewed key details relating to the general standing of legal entities. Among other things, he elucidated changes to the system of legal entities, the structure of constitutional documents, the status of company bodies, and their liabilities. In addition to this, he described the rights and responsibilities of corporate members, as well as the new opportunities afforded them through these changes to the Civil Code – including new means to protect legal interests and defend against rights violations.

Elena Agaeva, Head of M&A and Corporate Practice at the St. Petersburg Law Office of EPAM, dedicated her presentation to a detailed analysis of the changes to the regulation of legal entities and their practical application. In particular, Elena talked in detail about the issues relating to the future of closed joint-stock companies, further opportunities for the flexible management of private companies, new developments related to corporate contracts, the increased liability of regulatory authorities, and key procedural changes to company operations. She also examined key shifts in the areas of restructuring and liquidation.

The speakers’ presentations provoked a keen response from the audience, turning the event into a deep and lively discussion.