Stonebridge Legal Regulatory practice prepared an alert regarding Presidential Decree No.16 (the Decree), which came into effect on 17 January 2023. The Decree provides for a temporary corporate governance regime for certain categories of Russian companies with a controlling shareholder/beneficial owner sanctioned by a foreign state and minority foreign shareholder(s) associated with unfriendly foreign states.
In particular, the Decree has established a mechanism allowing to limit the ability of shareholders which are associated with unfriendly states.
Read in detail on the new Presidential Decree in the alert at the link.
