Events                     

Application of English Law in Russia: Shareholder Rights (and related issues)

April 12, 2011

On 12 April 2011 the British Consulate General in Ekaterinburg and the British – Russian Law Association held a seminar in Ekaterinburg, Russia on Application of English Law in Russia: Shareholder Rights (and related issues).

Shareholder agreements have a significant impact in Russia. Under Russian corporate law a number of imperative norms exist which cannot be changed by agreement of the parties. As a result Russian corporate law is sometimes unable to meet the needs of the Russian shareholders.

In 2009 changes to Russian corporate law were effected which recognised the validity of shareholder agreements for the first time. These changes mean that shareholders in Russian companies are now able to enter into agreements about their management that are governed by foreign laws. Therefore, an important legal right recognised in many international jurisdictions is now available in Russia as well. English law is by far the most popular choice of foreign law for shareholder agreements (both in Russia and globally). Why is this the case? What is it about English law that makes it such a favoured choice for shareholder agreements? This crucial question was the theme of the seminar.

Representatives of leading international and Russian legal practices were present and answered questions on shareholder rights under English law and the opportunities for their application in Russia, in particular – basic shareholder rights, resolving shareholder disputes and enforcing foreign judgments under English and Russian law. The detailed programme of the seminar is below. For presentations in Russian click on the topic of the presentation and for presentations in English click on the name of the speaker.

Programme

<td > Networking Business Reception
13.30 – 14.00 Registration
14.00 – 14.05 Opening remarks – James McGuire, British Consul General in Ekaterinburg
14.05 – 14.10 Opening remarks –Rupert’Cruz, Secretary of the British-Russian Law Association
Session 1
14.10 – 14.35 Applying English law in Russia to achieve business objectives   – Sophie Palmer (Salans, London)
14.35 – 15.00 Basic shareholder rights under English law Marc Halsema (Ernst & Young, Moscow)
15.00 – 15.25 Shareholder agreements (status and scope under Russian law) – Karina Chichkanova (Salans, St Petersburg)
15.25 – 15.35 Questions & Answers
15.35 – 15.55 Coffee Break
Session 2 – Dispute Resolution
15.55 – 16.20 Shareholder disputes – obtaining relief from the English Courts (Russian) – Rupert D’Cruz (Littleton Chambers, London)

Shareholder disputes – obtaining relief from the English Courts (English) – Rupert D’Cruz (Littleton Chambers, London)
16.20 – 16.45 Arbitrating shareholder disputes in England – John Whittaker (Clyde & Co, London)
16.45 – 17.10 Shareholder disputes – obtaining relief from the Russian courts Marc Halsema (Ernst & Young, Moscow)
17.10 – 17.20 Questions & Answers
17.20 – 17.40 Coffee Break
Session 3 – Enforcing judgments and arbitral awards
17.40 – 18.05 Enforcing foreign judgments and arbitral awards in England (Russian) – Peter Bennett (Stephenson Harwood, London) –

Enforcing foreign judgments and arbitral awards in England (English) – Peter Bennett (Stephenson Harwood, London)
18.05 – 18.30 Enforcing foreign judgments and arbitral awards in Russia – Aleksei Golovchenko (Enso, Ekaterinburg)
18.30 – 18.40 Questions and answers
18.40 – 20.40