Sergei Bakeshin has spoken with RBC about the consequences of transferring a stake in a trust

Sergei Bakeshin - Counsel

The new chairman of the Committee on Industrial Policy, Innovation and Trade of St Petersburg, Kirill Soloveichik, transferred his business assets in a trust to the President of the St Petersburg Chamber of Commerce and Industry, Yuri Burchakov.

As Sergei Bakeshin, Head of the Dispute Resolution and Insolvency practice at Maxima Legal, explained to RBC Petersburg, when transferring shares to trust management, the owner gives up voting rights but can continue to receive income from the shares in the form of payment of dividends.

To read the full article (in Russian), please see the RBC Petersburg website >>>