Haynes and Boone Participates in Roundtable Focusing on Russian Law on LLCs

06/02/2009

Haynes and Boone, LLP participated in an industry roundtable entitled, “Problems with the Amendments in the Law on LLCs: Conflicting Provisions of the New Law.” Moscow and Houston-based attorneys from the firm’s global corporate practice attended.

Russian domestic and international industries are preparing for the somewhat abrupt transition from old to new law. Russian government agencies will apply the current Russian Law on LLCs until June 30, 2009. The new provisions will be fully effective the following day, July 1, 2009.

The roundtable event, co-hosted by the Investor Protection Association and the Institute for Corporate Development in Moscow, included speakers from the legislative draftsmen taskforce, the Russian Ministry of Economic Development, the Federal Anti-Monopoly Service , and the Supreme [State] Arbitration Court, among other organizations.

Topics of interest included:

  • Anti-Monopoly Regulatory Control and Enforcement as Applied to LLCs;
  • Foreign Investment Permits and Investor Groups or Related Parties
  • LLCs Shareholders’ Rights Protection;
  • Pre-emptive Rights to Purchase Participation Shares in LLCs;
  • Exit Rights of Shareholders;
  • Registration of Shares;
  • Filing Requirements for the Formation of new LLCs;
  • Filing Requirements for Amendments in Existing Corporate Documents;
  • Governance Options Under the new Law on LLCs.

Haynes and Boone has been preparing its Russian clients for the transition since the revisions were adopted. Client Alerts issued earlier this year -- Part One and Part Two -- addressed key changes introduced by the December 31, 2008 Russian law, which introduced amendments to the laws governing Russian Limited Liability Companies, No. 312 FZ.

The new law included modifications to the Russian Civil Code, the “Law on LLCs” (the Federal Law of the Russian Federation of February 8, 1998, No. 14-FZ “On Limited Liability Companies” as restated through 2008), and other related Russian laws.

Haynes and Boone, LLP is an international corporate law firm with offices in Texas, New York, California, Washington, D.C., Mexico City and Moscow, providing a full spectrum of legal services. With almost 550 attorneys, Haynes and Boone is ranked among the largest law firms in the nation by The National Law Journal. The firm has been recognized as one of the "Best Corporate Law Firms in America" (Corporate Board Member Magazine, 2001-2009), as one of "The Best 20 Law Firms to Work For" (Vault.com, 2008), and as a Top 100 law firm for both diversity (MultiCultural Law Magazine, 2009) and women (Women 3.0, 2008).

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