Sergey Tarasevich has assessed for RBC the results of the first round of frozen assets exchange
The Russian authorities managed to carry out the buyout of blocked assets of Russians by foreigners despite sanctions and other restrictions of the European Union, including a direct ban on the participation of the EU citizens in the procedure. Recall that this is a mechanism where foreign investors can buy back blocked foreign assets from…
13.08.2024
Maxima Legal won a court case against Euroclear Bank S.A./N.V. in the interests of a Russian investor
Maxima Legal obtained a court decision to recover unpaid coupon income and unpaid redemption amounts of securities blocked on NSD's account from Euroclear Bank S.A./N.V. in favour of a Russian citizen. The practice in disputes with the European depositories Euroclear and Clearstream is generally similar in favour of Russian investors, but…
07.08.2024
Sergey Tarasevich has assessed for RBC whether the extension of OFAC's general licences for certain transactions with Moscow Exchange and its constituent entities will affect private investors whose assets are blocked at Euroclear
The US Office of Foreign Assets Control (OFAC) has extended until 12 October 2024 the licences allowing foreign counterparties to complete transactions with the Moscow Exchange and its constituent entities - the National Clearing Centre (NCC) and the National Settlement Depository (NSD), which have been placed under blocking sanctions. At RBC's…
02.08.2024
Sergey Tarasevich has explained to RBC how the EU ban on participation in asset swaps with Russians could affect foreign investors
In November 2023, the Russian President signed a decree allowing Russian and foreign private investors to exchange blocked assets. The transactions are scheduled for 12 August 2024, with Russian investors offering to redeem about 2,500 assets worth a total of RUB 35 bn. However, on 24 July 2024, the European Commission banned citizens and legal…
25.07.2024
Natalia Demina told Pravo.ru how a personal foundation - a Russian alternative to trusts - works
Natalia Demina, Partner, Head of Private Wealth Practice at Maxima Legal, reminded Pravo.ru that in April 2022, European Union Council Regulation No. 2022/576 prohibited the administration of trusts with Russian founders and beneficiaries, and from May the EU stopped registering them and providing management services, including acting as trustee.…
25.07.2024
Elizaveta Pastushenko told Vecherniy Petersburg about the nuances of scheduled passport renewal
Despite the active development of digitalisation in Russia, the scheduled renewal of a passport at the age of 20 and 45 still requires compliance with a number of procedures and personal attendance at the competent authorities. Elizaveta Pastushenko, Senior Associate of Private Wealth practice at Maxima Legal, told Vecherniy Petersburg newspaper…
09.07.2024
Natalia Demina explained to DP why Russian courts rejected the couple's lawsuit against the Finnish State Council
In 2017, the Ivanov couple purchased a plot of land with a house in Finland for 180,000 euros, which they subsequently used for holidays. However, in 2022, due to the tightened sanctions against Russia, the couple were denied entry to the neighbouring country. This circumstance forced the Ivanovs to file a lawsuit with the Commercial Court of St.…
25.06.2024
Elizaveta Pastushenko assessed for Pravo.ru what position the Supreme Court of the Russian Federation may take in a dispute over the lawfulness of entering into a gift agreement on the basis of a general power of attorney
This week the Supreme Court of the Russian Federation will review a dispute in which the defendant has deprived heirs of real estate on the basis of a general power of attorney. The power of attorney was issued while the principal was still alive and was later used by the trustee to enter into a gift agreement. The state registration of the gifted…
24.06.2024
Elizaveta Pastushenko was recognised by the second city-wide Rating of Lawyers of Vecherniy Saint-Petersburg newspaper
Elizaveta Pastushenko, a Senior Associate of Private Wealth practice at Maxima Legal, won second place in the Best Young Lawyer category of the second the second city-wide Rating of Lawyers of Vecherniy Saint-Petersburg newspaper. The jury highly appreciated the case in which the expert defended the interests of a client who lost a large sum of…
21.06.2024
Elizaveta Pastushenko told Legal Information Agency about the peculiarities of business inheritance for individual entrepreneurs
Elizaveta Pastushenko, a Senior Associate of Private Wealth practice at Maxima Legal, told the Legal Information Agency whether labour and other contracts concluded by an individual entrepreneur are valid after his death and how such business is inherited. "State registration of a citizen as an individual entrepreneur automatically terminates in…
27.05.2024