SUBSIDIARY LIABILITY OF MANAGERS OF CREDIT INSTITUTIONS

SUBSIDIARY LIABILITY OF MANAGERS OF CREDIT INSTITUTIONS

The 21/03/2022 issue of the leading Russian business newspaper Kommersant features the article Fate of a Banker, in which Alexander Linnikov and L&P Of Counsel Salimkhan Akhmedov reflect on the controversial practice of bringing ex-managers of credit institutions to subsidiary liability for obligations of bankrupt banks and substantial problems in the application of law that are being unveiled in course of hearing of this complicated category of cases by the courts.

ISSUE OF FORCE-MAJEURE CERTIFICATES

ISSUE OF FORCE-MAJEURE CERTIFICATES

On 10/03/2022 the Chamber of Trade and Commerce of the Russian Federation (CTC of Russia) announced that the competent territorial Chambers of Trade and Commerce will organize the process of issue of force-majeure certificates for contracts, made in due course of Russian domestic economic activity. It has also been declared that the CTC of Russia will carry out the issue of force majeure certificates for both, domestic and foreign trade contracts, on gratuitous basis from 10 March, 2022 till 30 April, 2022.