Where ours did not insure // The Supreme Court stood up for arbitration managers of large debtors

The Supreme Court of the Russian Federation (SC) recognized the existence of a crisis situation in the field of liability insurance of arbitration managers (AI). The decision of the Supreme Court was made on a dispute about the possibility of removing the manager if he could not get additional insurance to manage the bankruptcy of … Read more

The rise in prices for energy carriers and electricity in Europe breaks records // Infographics

According to Eurostat, energy inflation reached 41.1% yoy in July. This is the highest figure since the beginning of observations in 1997. If we take the subcategories, the largest increase in July was shown by gas prices – 51.4% yoy. Since January, this indicator has grown by 10.7 percentage points against the backdrop of a … Read more

Unemployment left for the fall // Ministry of Economy shared a slight concern about future employment

Economics Minister Maksim Reshetnikov expects Russia’s record low unemployment rate to rise slightly in the fall, as evidenced by rising rates of underemployment at enterprises, he said. So far, according to surveys by the Gaidar Institute, the proportion of workers who have been transferred to a shorter working day, sent on vacation or are in … Read more

Entrepreneurs and youth fell into consumer pessimism // Poll Monitoring

Consumer sentiment and expectations in Russia are at their highest since May 2018, the Central Bank said yesterday. Savings moods worsened somewhat (in July, more than 70% of respondents polled by order of the Central Bank could not put anything aside). At the same time, the share of the population that prefers to buy expensive … Read more

The hryvnia fell by a quarter // The National Bank of Ukraine devalued it after the stabilization of the situation in the financial sector

The National Bank of Ukraine decided to devalue the Ukrainian hryvnia by 25%. The hryvnia exchange rate against the dollar was fixed in March 2022, and the Ukrainian Central Bank went for devaluation only after the situation in the financial sector stabilized as a result of deferrals for servicing external public debt. The depreciation of … Read more

Medical equipment not allowed for treatment // Russian hospitals may be left without repair of medical equipment

In the Russian Federation, a secondary shortage of medical equipment may arise – its suppliers cannot export spare parts for repair or replacement to non-CIS countries, the profile association of manufacturers IMEDA said. Difficulties arose due to government decree No. 311 dated March 9, 2022 – according to it, permission from the Ministry of Industry … Read more

Consistency with unreasonableness

Experts state that the situation with the prosecution of concerted actions in the market is interesting: in fact, in practice, this offense is not used and to some extent is replaced by the prosecution of anti-competitive agreements, as well as the coordination of economic activities. As BGP Litigation lawyer Ilya Kozhevnikov notes, in order to … Read more

The recession is growing in length and width // Contraction of the Russian economy will continue in 2023

The fall of the Russian economy is deepening and affecting an increasing number of regions. Although the July consensus forecasts suggest that GDP, consumption, investment and net exports will decline less than expected in 2022, the recession will likely drag on for the next few years. At the same time, the risks of deterioration in … Read more