Infralex Head of real estate practice Sergey Shumilov spoke yesterday at the conference “Real estate of the XXI century: Yesterday! Today! Tomorrow!” hosted by the Moscow Business-Club for the market leaders. The new Law “On the State Registration of Real Estate” coming into force on the 1st of January’2017 has aroused great interest from developers. Sergey Shumilov told that this Law provides unification in the new register of real estate the data from the two current registers – the State Real Estate Cadastre and the Unified State Register of Rights. According to Sergey Shumilov the transition period is fraught with serious risks because the information in the both abovementioned registers often has discrepancies.
Infralex has traditionally continued to examine the Russian Antitrust Law. In the regular annual issue of the International Comparative Legal Guide (ICLG) published in England Infralex partner Artur Rokhlin and associate Victor Fadeev gave their expert opinion on Cartel prohibition. The 10th ICLG edition with the headline «Cartels & Leniency 2017» covered 28 jurisdictions has been published in November. Infralex traditionally represents Russia. This year the experts continue to explore the amendments to the Competition Law came into force in January’2016.
Infralex partner Artem Kukin has commented to the newspaper “Vedomosti” on the M&A practice under the Russian law. The newspaper published in the special category “Legal services business” a review of the M&A market after the amendments to the Russian Civil Code borrowed some institutions from the English law. According to lawyers, “Transactions in Russian” are becoming more. However the main motivation is not the new provisions of the Civil Code but the deoffshorization of the Russian business. Artem Kukin believes that the participants to big M&A transactions are afraid to use the Russian law. The main reason is the lack of stable and user-friendly judicial practice.
Infralex partner Artur Rokhlin has commented to the newspaper “KommersantЪ” on the law draft drawing a distinction between various breaches of competition and administrative responsibility for them. Catel agreements, the most dangers violations are proposed to punish more severe: the minimum fine shall be increase from 1% up to 3% of revenue. On the other hand administrative fine for other agreements can reduce from 15% up to 3-5% of revenue depending on the violation. Now all the anti-competitive agreements entail the same administrative penalty. Artur Rokhlin explained such the agreements as vertical ones and coordination.