PRESIDENT CONSULT

"President Consult" team includes English lawyers that work and live in London on a parity basis. Our company has developed long and close business relations with these lawyers.

When preparing international contracts parties often do not want to specify the arbitration and the applicable law for one of the parties in order to ensure complete impartiality in dispute resolution and exclude possible affiliation (foreign contractors are, particularly, inclined to show concerns over Russian courts). In such cases we recommend English law and London arbitration. We provide full legal support in the preparation of contracts and contract disputes.

English law is used in most transactions that take place in Russia between shareholders and M&A because the result of such transactions is easier to predict and model. We actively assist our clients by implementing English law during transactions between shareholders and Mergers & Acquisition.

On September 20, 2011 the European Court of Human Rights issued its Chamber judgment in the case OAO Neftyanaya Kompaniya YUKOS v. Russia (application no. 14902/04) which found:

• by six votes to one that there had been a violation of the right of NK "YUKOS" to a fair trial on the charge of tax evasion due to failure to provide adequate time to prepare its defense in the first and second instance court (4 days to study case file of at least 43 000 pages and 21 days to prepare for appeal hearings). However, it did not find: that the action against YUKOS was arbitrary or unfair; that arbitrary or unfair conduct restrictions had been imposed by the courts on YUKOS’s counsel during the hearings; that Moscow City Court had given its judgment without studying the evidence; or, that YUKOS’s access to a cassation appeal was unfairly restricted;
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The Federal Law of July 11, 2011 "On Amendments to the Code of Inland Water Transport of the Russian Federation," has introduced Article 23.1. The sailing of vessels with foreign flags on inland waterways.

The Federal law of 20.03.2011 No. 42-FZ "On Amending the Federal Law "On migration registration of foreign citizens and stateless persons in the Russian Federation" and certain other legislative acts of the Russian Federation" includes amendments in relation to the definition of foreign citizens or stateless persons' place of residence as well as the definition of the receiving party.

Thus, the definition of foreign citizens or stateless persons' place of residence in the Russian Federation is amended to include the premises, institution or organization, at which the person is staying, and (or) the address, at which the person is required to be registered.

On 20 December, 2010 an agreement was signed between the Government of the Russian Federation and the Government of the Republic of Latvia for the Avoidance of Double Taxation and the prevention of Fiscal Evasion with Respect to Taxes on Income and on Capital.