Analytics and brochures
The area of contract law seems to be an indicator of economic progress: a more developed economy needs a more developed law of contract. This is because a contract appears to be the best instrument for optimizing social costs and benefits; it is the motor that moves the resources from one person to the other. An economy based on less developed exchange has no need of complicated contractual forms and rules.
Russia is entering 2015 on the wave of an incipient economic crisis. The outward manifestation of that crisis is taking different forms.
Today's economic environment in Russia is highly unstable. However, rights to intellectual property assets are monopolistic in nature and, moreover, may be protected over an extended period of time. Bearing this in mind, there is continued relevance for various aspects of how intellectual property is enforced, used or protected, even during a time of economic crisis.
Transactional work varies from jurisdiction-to- jurisdiction with the ebb and flow of various economic cycles, but a prevailing theme across the EMEA region has been that more and more advisory firms are urging taxpayers to prepare for the impact of the OECD’s base erosion and profit shifting (BEPS) action plan. Joe Stanley-Smith investigates how this is impacting key jurisdictions across the region.
One of the significant events on the legal market in 2014 came when Roman Bevzenko left his post as head of the Private Law Division at the Russian Supreme Commercial Court to join Pepeliaev Group as a partner. Moving from public office into private practice is far from unknown, but this transfer made waves in the legal community.
The ongoing crisis in the Russian economy has had a significant impact on the practice of applying bankruptcy law and on its development. This is amply demonstrated by the increase of around a 30% growth in bankruptcy cases in 2014. The amount of overdue corporate loans has reached RUB 767 billion — and this only refers to loans held by 30 major banks. The figure for consumer loans in arrears held by individuals has climbed to RUB 652.3 billion. Against this backdrop, a number of regulations have been adopted to enhance the guarantees for both creditors and debtors in connection with the latter going bankrupt.