In December 2016 LITOKOL S.P.A., the leading manufacturer of construction materials, purchased equity interest in Russian distribution network entity and increased the share of its participation in this Russian holding company that consolidates building products manufacturing facilities. Parties to the transaction also provided each other with options to the participatory interest in the share capital of the distribution network entity that can be exercised until 2020. INFRALEX Corporate Law and M&A practice team led by partner Artem Kukin provided legal advice for the transaction.
Infralex partner Artem Kukin has commented to the website “Pravo.ru” on the case related to restructuring of debt (№ 305-ЭС16-12298). The courts of lower instances considered a debt relief as a gift agreement which is prohibited between commercial organizations. The Russian Supreme Court reversed this decision and explained the difference between gift and restructuring. The Supreme Court referred to the practice of the Higher Arbitrazh (Commercial) Court.