Orrick - Finance 20/20 (JD Supra Russia)
Russian Note Trustee (a Bondholders Representative) and Other Changes in Corporate Bond Regulations
This Orrick law alert relates to the changes made in the Russian securities law by Federal Law No. 210-FZ dated July 23 (On Amendments to the Federal Law on the Securities Market and to Certain Russian Laws and Regulations).
Ruling No. 1831/12 of the Russian Supreme Arbitrazh Court of June 19, 2012 on Split Jurisdiction Clauses
The ruling, after being delayed for a month, was finally published on September 2 and relates to a split jurisdiction clause of a type that is in common use, for example in loan agreements, and which limits the remedies available to one of the parties.
Regulation No. 383-P of the Russian Central Bank of June 19, 2012 on Money Transfer Rules
The new Regulation on Money Transfer Rules came into effect on July, 9, 2012. It replaced Regulation No. 2-P of October 30, 2002 on the Cashless Money Transfers in the Russian Federation and Regulation No. 222-P of April 1, 2003 on the Cashless Money Transfers by Individuals in the Russian Federation. The new Regulation establishes a framework for the order of all types of cashless transfers