According to the document with which the newspaper got acquainted, Foreigners will be able to buy shares previously belonging to their enterprises only if the government or the new owner agrees to this. At the same time, refusal to return the assets will be possible, If a foreign shareholder comes from a “hostile” country, The redemption agreement indicates a price lower than the market, as well as in the event of two years from the moment the contract was concluded.
However, in the event of a refusal, a foreign entrepreneur will have to receive compensation, the amount of which will be determined by the government. The draft act shows that if there were foreign owners before leaving Russia did not comply with their obligations, the amount of payment from the option will be reduced and the final amount will be determined by the court. It also indicated that the government will have the right to refuse foreign entrepreneurs to return the assets, If the company belongs to the industry that affects the socio-economic situation of the countryk. an enterprise of key importance, related to the financial stability and defense of the country, will be able to be returned only with the consent of the president. The act will enter into force on the day of its publication.
According to the estimates of the Lawyers Association At least 18 foreign corporations may be inability to recover Russian assetswhich received the option of buying out. It is known that this point was provided for in the contracts of the French brand Renault and the American McDonald's network. Renault was counting on buying its assets in six years, McDonald's had exactly the same plan.
Marija Spiridonowa, the managing partner of “Leges Bureau” and a member of the Lawyers' Association, said that the proposed bill is primarily aimed at the development of Russian business, which has already launched production in former foreign enterprises. In turn, the lawyer Jewgenija Sabitowa noted that from a legal point of view, restrictions on redemption are interference in corporate rights. According to her, unclear wording of the bill will cause uncertainty on the market and provoke conflicts.
