Under the Russian Law the force majeure — act of god situation means emergency, unforeseen and unavoidable situations, which cannot be reasonable predicted, avoided or overcome in time of contracts execution and are not under the control of parties.

On the June, 26th 2018 the Plenum of the Supreme Court of the Russian Federation adopted the Resolution No. 27 “On challenging of the major and interested party transactions” (hereinafter — The Resolution).

The new Bill No. 551219-7 has been introduced to the State Duma, which is going to change voting procedure for interested party transactions under Joint Stock Companies Law and Limited Liability Companies Law.

On 19 July amendments to the Federal law “On joint stock companies” (JSC Law) came into effect aiming to fix general principles of internal audit implementation in joint stock companies. Here we describe this and other important changes.

Ministry of Economic Development of the Russian Federation proposed to abolish company winding-up basis that provides for the liquidation of joint stock companies (JSC) and limited liability companies (LLC), while the net asset value is lower than the charter capital amount.

The procedure of incorporation companies and individual entrepreneurs has been changed since 29 April 2018. Amendments to the Federal law No. 129-ФЗ of 08.08.2001 “On state registration of legal entities and individual entrepreneurs” has come into effect.

On 1 June 2018 comes into force the federal law (the “Law 212-FZ”) which allows the parties to execute escrow agreements under Russian law.