On 26/01/2023 a foreign investor, client of L&P, received the official notice on successful completion of the procedure of forced conversion of American Depositary Receipts (“ADRs”) into shares of a Russian issuer – one of Russia’s largest metallurgical companies.
On 25/01/20233 the LINNIKOV & PARTNERS team has once again proved its reputation as one of undisputed leaders in mastering subsidiary liability cases on the national scale by winning the high-profile dispute arising out of attempted recovery of alleged losses of the Moscow Industrial Bank from its top-managers in the court of appeals.
On 23/01/2023 Alexander Linnikov commented on the mechnisms of management of financial assets of the Russian state and private investors blocked in Europe and the US for the news of economics program of the RUSSIA-24 channel. According to the founder of LINNIKOV & PARTNERS, management of assets, including foreign currency, titles and other property, poses a number of problems for the European financial institutions, such as legal justification for operations with “frozen” property, methods of distribution of profits, as well as selection and scope of competence of persons or entities entrusted with the management of assets.
On 10/01/2023, the US Office of Foreign Assets Control (OFAC) issued a license for unfreezing and return of substantial funds in US dollars to the organization holding accounts with a bank – client of LINNIKOV & PARTNERS.