The Ministry of Finance of the Russian Federation published the Extract from the Decision of the Subcommission of the Government Commission for Control over Foreign Investments in the Russian Federation (the “Subcommission”) No. 171/5 dated 7 July 2023, which unifies and clarifies the requirements for deals on sale and purchase of stocks (shares) in Russian companies by persons from unfriendly states and payment of dividends to such persons. At the same time, the previously published Extracts from the Minutes of the Subcommission meetings No. 118/1 dated 22 December 2022 and No. 143/4 dated 02 March 2023 are no longer in force.

The table with the main criteria used by the Subcommission when considering the issue of approving transactions is set out in this update

Lidings Intellectual Property team has helped a major Russian manufacturer of pharmaceuticals, Pharmnovations, to achieve the annulment of the marketing authorization for a generic drug of a competitor company.

Federal Law No. 301-FZ “On Amendments to the Federal Law “On Protection of Competition”” (the “Law”) was signed by the President of the Russian Federation on 10 July 2023 and will enter into force on 1 September 2023. As follows from the explanation note, the Law provides a set of norms aimed to improve antitrust regulation in the digital economic development. The main amendments of the fifth antitrust package you can find in this legal update.

The article briefly highlights the results of seven years of consumer bankruptcy, analyzes the problem of classifying citizens as honest and bona fide debtors. The author analyzes the practice of refusing to discharge debts due to a significant amount of claims against the debtor or a consistent increase in debt to creditors in the absence of the required level of income, as an independent basis for refusing to discharge debts and comes to the conclusion that the balanced approach proposed by the Supreme Court helps prevent indiscriminate failures. The author examines and highlights key points of the precedent ruling of the Supreme Court on the issues of malicious evasion of repayment of debts.

Legal update on general ad requirements in CIS countries, Georgia and Mongolia.

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On 29 June 2023, Federal law of 28 June 2022 No. 193-FZ came into force, amending Part 4 of the Russian Civil Code, including the subjects that can be trademark holders.

From 1 September 2022 a new regulation in the field of advertising has been enacted. Federal Law No. 38-FZ “On Advertising” was supplemented by provisions, according to which Internet advertising should be marked and is subject to registration in the Unified Register of Internet Advertising, the operator of which is Roskomnadzor.

On May 23, 2023, the Government submitted to the State Duma a bill designed to simplify the procedure for voluntary liquidation of small and medium businesses companies.