BELGIAN TREASURY ONCE AGAIN REVOKES ITS DENIAL TO UNBLOCK ASSETS APPEALED BY L&P ATTORNEYS TO THE BELGIAN COUNCIL OF STATE

BELGIAN TREASURY ONCE AGAIN REVOKES ITS DENIAL TO UNBLOCK ASSETS APPEALED BY L&P ATTORNEYS TO THE BELGIAN COUNCIL OF STATE

On 01/02/2024, one more L&P client received from the Federal Public Service Finance of Belgium an official notice on revocation of denial to grant authorization to “unfreeze” assets currently blocked in the account with the Euroclear Bank.  Once again, the Belgian Treasury has decided to withdraw its denial after it was appealed by the L&P attorneys to the superior state authority of Belgium – the Council of State.

ALEXANDER LINNIKOV ON THE HEARING OF THE “NSD CASE” BY THE EU COURT OF JUSTICE FOR RBC

ALEXANDER LINNIKOV ON THE HEARING OF THE “NSD CASE” BY THE EU COURT OF JUSTICE FOR RBC

In light of the proceedings held on 23 January 2024 at the European Court of Justice on the claim of the National Settlement Depository (NSD) requesting the lifting of EU restrictive measures, RBC approached the founder of L&P with a series of questions on the legal nature of sanctions, political context of the EU Council's decision to impose restrictive measures on NSD, and the impact of this decision on the Russian stock market.

OFFICIAL HEARING ON THE “UNFREEZE” OF RUSSIAN INVESTORS’ ASSETS IN BELGIUM

OFFICIAL HEARING ON THE “UNFREEZE” OF RUSSIAN INVESTORS’ ASSETS IN BELGIUM

On 09/01/2024, the official hearing, yet unprecedented in the practice of challenging of restrictive measures of the European Union, took place in the Federal Public Service Finance (Treasury) of the Kingdom of Belgium. The regulator held an online hearing on the application of the credit institution, an L&P client, to "unfreeze" assets belonging to its private customers, citizens of Russia and Belarus, blocked in the account of a broker designated for EU restrictive measures with the Euroclear Bank.