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Appearance on RBC TV

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Alexander Nadmitov, Managing Partner of Nadmitov, Ivanov & Partners Law Firm, supported the FAS Russia initiative on crab fishing quotas allocation through auctions, calling it the most optimal option.

Russia has a historical way of allocating crab fishing quotas. 10-year crab fishing quotas were approved in 2008. They take into account the history of fishing companies of the previous period. The term of these quotas was extended to 15 years in 2017. FAS Russia proposes to replace the historical way of quotas allocation. For example, in 2017, the auction for the sale of quotas for crab fishing in the Primorskiy Krai brought the treasury 23 billion rubles.

Nadmitov, Ivanov & Partners Law Firm regularly represents the interests of clients on complex issues of antitrust law and actively participates in legislative work on antimonopoly issues.


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Victor Arkhipov commented on the article on Pravo.ru

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Victor Arkhipov, Nadmitov, Ivanov and Partners Law Firm Partner and the Head of Tax Practice, commented on the decision of the court in the case no. A33-17038/2015, which was discussed in the article “The Supreme Court Told, How to Return VAT in Case of Invalidating the Transaction” on Pravo.ru.

“In this case the court referred to unfair behavior of the tax authority, which firstly avoided a direct response to the request of a taxpayer, but then confirmed the approach applied by the taxpayer on the results of in-house tax audit and later found it unlawful in the course of on-site tax audit. Taking into account the circumstances of the case, it is too early to conclude, that this approach is universal for all corrections of the VAT obligations, when the transaction is declared invalid.”

Nadmitov, Ivanov and Partners Law Firm renders services in corporate and tax law.


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Alexander Nadmitov about pro et contra of the Finance Ministry’s draft law on digital financial assets

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Alexander Nadmitov, Managing Partner of Nadmitov, Ivanov and Partners Law Firm commented on the Draft Law of the Ministry of Finance “On Digital Financial Assets” for Pravo.ru.

According to Alexander, an advantage of this draft law is the legislator’s attempt to give legal qualification of such concepts as cryptocurrencies, mining, token issue and smart contracts: “In Russia there are small ICO market and cryptocurrency market with high growth rate. To date they are in a legal “gray” zone. I am glad, that the legislator decided to settle these issues, but there are questions, how these will be implemented in practice.”

Alexander Nadmitov also states, that a number of strict restrictions of the draft law do not contribute to the development of the legal ICO market, mentioning the following shortcomings: firstly, mining is recognized as entrepreneurial activity, unqualified investors can invest a maximum of 50,000 rubles in digital tokens; secondly, exchange of digital finance assets may occur only through regulated participants of the financial market, that increases transaction costs and limits their scope of application; and thirdly, it is unclear how VAT will be charged on deals with digital financial assets. In December 2017 the firm consulted on the transaction, where the client bought shares of the U.S. corporation for bitcoins under New York law. “If it was carried out under the draft law of the Ministry of Finance, we would have to use the services of the operator. This would increase the transaction costs,” says Alexander Nadmitov.

Nadmitov, Ivanov and Partners Law Firm actively advises on ICO issues, mining of cryptocurrencies and related transactions.

More details about pro et contra of the Finance Ministry’s draft law: https://pravo.ru/review/view/147482/?cl=N


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Developer demands that construction of new landing strip in Domodedovo be prohibited

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Pavel Maruev, the senior lawyer of Nadmitov, Ivanov & Partners Law Firm commented to Vedomosti on the prohibition of construction of a new landing strip in Domodedovo airport.

Developer demands that construction of new landing strip in Domodedovo be prohibited

This construction interferes with housing construction

Gunay commercial production company demands that development of Domodedovo airport be prohibited in the part not provided by the Federal Target Program “Development of Russian Transportation System (2010-2020)”. This is about any development including pre-design, design, explorations works, construction, reconstruction of effective and new landing strips, says the court in its resolution. The claim was accepted for hearing by the Arbitrazh Court of the Moscow Region, the first hearing is scheduled for 10 July.

Since the lands for development are located on aerodrome environs (within 30 km), all construction works must be approved by Rosaviatsiya.

“The suit is brought in order to protect the legal right to develop the site and is within the framework of the law on prohibition of causing harm which may arise in the future. However the claimant will need a serious evidence base” – the senior lawyer of Nadmitov, Ivanov & Partners Law Firm Pavel Maruev is convinced.


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Court took the Federal Tax Service’s side in the case regarding the use of the debt push-down scheme in Schlumberger’s Russian transaction

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Denis Kazakov, the partner of Nadmitov, Ivanov & Partners Law Firm commented to Interfax agency on the dispute concerning the use of the debt push-down scheme in Schlumberger’s Russian transaction.

Cassation in the case of Radius-Service company put the debt push-down scheme into question (acquisition of a company for loan funds and repayment of the debt at its expense). It was not clear whether such a mechanism would work in Russian tax reality. At first the company managed to challenge additional charge of taxes with the use of this scheme, however, appellate and cassation instances took the Federal Tax Service’s side.

Loan agreement was concluded between Shlumberger Finans B.V and Smith International CIS with the sole purpose to transfer obligations to perform this agreement to Raduis-Service company; Shlumberger holding was compensated for the costs on the purchase of 65% share interest in the authorized capital of Radius-Service at the expense of the latter, the court resolved.

Debt push-down strategy is actively used abroad and implies transfer of the debt connected with funding of the acquiring company to the target company.

Taxpayers should use this scheme carefully and keep account of additional tax risks and costs connected with its application (or immediately and independently pay the total amount of VAT and income tax connected with these transactions), considers the partner of Nadmitov, Ivanov & Partners Law Firm Denis Kazakov.

Nadmitov, Ivanov & Partners Law Firm regularly represents clients on M&A transactions and on issues of funding of such transactions.


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Aeroflot is planning to prohibit hiring resigned pilots during three years

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Alexander Nadmitov, the managing partner of Nadmitov, Ivanov & Partners Law Firm commented to RBC on the announcement made by the head of Aeroflot concerning possible imposition of prohibition of employment of resigned pilots during three years.

Aeroflot promises not to hire resigned pilots during three years

The head of Aeroflot Vitaly Saveliev at the meeting of shareholders announced a three year embargo for resigned specialists. Lawyers argue that this decision is inconsistent with labor law.

In recent times Around 100 pilots quit Aeroflot group (which includes Aeroflot, Russia, Pobeda and Avrora airline companies), in particular 20 pilots quit Aeroflot, 120 more quit its subsidiary company Russia.

During the last 2,5 years more than 300 Russian pilots quit for Asian airline companies, primarily for Chinese ones, and about 400 pilots are now in the process of employment.

Pilots are attracted by higher wages.

Lawyers consider this reason for denial of employment unlawful (Articles 3 and 64 of the Labor Code of the Russian Federation).

The managing partner of Nadmitov, Ivanov & Partners Law Firm Alexander Nadmitov considers the intention of Aeroflot not to hire resigned pilots as violation of labor law as well. “This restriction falls under discrimination prohibited by Article 3 of the Labor Code of the Russian Federation. Discrimination on the grounds not connected with professional characteristics of an employee is prohibited”, he informed RBC.

For more detail see: http://www.rbc.ru/business/26/06/2017/5950e1859a794704d05371d1

Nadmitov, Ivanov & Partners Law Firm regularly represents the interest of employers and employees in labor disputes.


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FAS will continue deregulation of port activity

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Alexander Nadmitov, the managing partner of Nadmitov, Ivanov & Partners Law Firm commented to Izvestia newspaper on deregulation by the Federal Anti-Monopoly Service of stevedores (companies involved in loading and unloading of vessels) which have built ports at their own expense.

FAS will continue deregulation of port activity

Liberalization will affect companies which have built ports at their own expense

Process of deregulation of tariffs on stevedore services was launched in 2010. With its start the volume of private investment in port infrastructure has increased sharply. However in 2016 FAS noted a significant increase of tariffs and fixation of prices in currency.

Previously FAS was involved in drafting the order “On Approval of Procedural Guidelines for Setting Tariffs on Loading and Unloading Services, Storage of Cargo, Towing Services in Maritime Ports of the Russian Federation”, reminded the managing partner of Nadmitov, Ivanov & Partners Law Firm Alexander Nadmitov. Draft order was prepared but has not entered into force.

  • Probably some serious differences with other agencies arose – for instance with the Ministry of Transportation which assumes that return to price regulation will lead to critical reduction in stevedore companies’ yield, supposed the lawyer.

However it is too early to make conclusions regarding the stevedores’ victory in case of deregulation until the Service makes an official announcement, he added.

For more detail see: http://iz.ru/609633/mariia-todorova/fas-prodolzhit-deregulirovat-deiatelnost-portov

Nadmitov, Ivanov & Partners Law Firm regularly represents clients on complex issues of antitrust law and tariff regulation.


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Intereurosea armada

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13 июняAlexander Nadmitov, the managing partner of Nadmitov, Ivanov & Partners Law Firm, commented to Kommersant newspaper on Brussels’ intentions to extend the European Union’s legal regulations to the Gazprom gas pipeline Nord Stream 2 which is planned to be laid through the Baltic to Germany.

Intereurosea armada. Brussels intends to apply its laws to Nord Stream 2

The European Commission tries to extend its legal standards to the whole Baltic Sea. Brussels concerned by the Gazprom’s intention to lay the Nord Stream 2 gas pipeline through the Baltic to Germany and can offer to the Russian Federation to conduct negotiations on the legal status of the project. Their purpose is to clean the “legal vacuum”, which is understood as impossibility to control sea import gas pipelines by the energy legislation of the EU. Nord Stream 2, as well as other similar projects, doesn’t fall under the jurisdiction of the European Union, and Moscow will hardly agree to the negotiations with Brussels, which can delay the implementation of Gazprom’s project.

Besides, Nord Stream 2 caused concern in Central Europe (for example, in Slovakia): here the countries can lose the status of transit or are afraid of problems with gas supply along the northern route.

The construction of the pipeline with the capacity of 55 billion cubic meters of gas from Russia to Germany on a bottom of Baltic has to begin in 2018 and come to the end at the end of 2019.

Alexander Nadmitov, the managing partner of Nadmitov, Ivanov & Partners Law Firm, believes that disagreements between Russia and the EU concerning strategically important resource for both parties generate the need of carrying out serious negotiations.

For more detail see: http://www.kommersant.ru/doc/3323609

“Nadmitov, Ivanov and Partners” Law Firm regularly represents clients on the issues of energy and international trade.


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Russia tries to inscribe crypto currencies into the legal framework

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9 июня

Maxim Bashkatov, the counsel of Nadmitov, Ivanov & Partners Law Firm, commented to Vedomosti newspaper on regulation of crypto currencies and their legal status.

Russia tries to inscribe crypto currencies into the legal framework

It can receive the status of “other property”

The Ministry of Finance and the Central Bank discuss what to do with crypto currencies. There is an offer to define crypto currencies as “other property”. The Bank of Russia suggests recognizing crypto currencies as digital goods with amendment of laws regarding taxes, control and the reporting. If one recognizes crypto currencies as money, the currency control will be required.

According to one of the experts, in the world the bitcoin is considered to be either currency, securities or goods, but any of these qualifications is one-sided.

If one calls crypto currency “goods”, for example digital, it will generate much more problems, than will resolve questions, the counsel of Nadmitov, Ivanov & Partners Law Firm Maxim Bashkatov says. It will help to determine how to tax crypto currency mining (a way of receiving crypto currency. – Vedomosti), but the use of crypto currencies for payments will be subject to constant risks of legal re-qualification, he warns. Bashkatov specifies that use of such “goods” for payment for normal goods, works or services has to be qualified as exchange, but not purchase and sale.

For more detail see: https://www.vedomosti.ru/finance/articles/2017/06/09/693743-rossiya-kriptovalyuti

“Nadmitov, Ivanov and Partners” Law Firm advises clients on innovative transactions involving blockchain technology and crypto currencies, including Bitcoin.


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A US court has obliged a Transaero shareholder to disclose assets

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8 июня

Alexander Nadmitov, the managing partner of Nadmitov, Ivanov & Partners Law Firm, commented to Vedomosti newspaper on satisfaction by a US court of the claim concerning the disclosure of assets of owners of bankrupt air company “Transaero”.

A US court has obliged a Transaero shareholder to disclose assets. “MTS bank” intends to collect 4.1 billion rubles from Alexander Pleshakov

The court of the Southern Federal District of Florida on June 6 upheld the claim of “MTS bank” to the owner and the former chairman of the ‘Transaero’ air company board of directors Alexander Pleshakov (59.48% as of the end of 2016) against the Former first Deputy CEO of Transaero Alexander Krinichansky and the Florida company ‘Sky Ocean International’.

According to the decision, the court obliged defendants and Florida banks under subpoenas issued at the request of “MTS bank” to give within 28 days testimony and to provide documents. According to the lawsuit, the information is required for ‘MTS bank’ for participation in the Transaero’s bankruptcy proceedings and the planned proceedings in Russia and on the British Virgin Islands related to repayment of the debt, distortion of Transaero’s reporting, money laundering, etc.

“In our experience, it can take several years for search of property and collection of debt at its expense”, – the managing partner of Nadmitov, Ivanov & Partners Law Firm Alexander Nadmitov warns.

For more detail see: https://www.vedomosti.ru/business/articles/2017/06/08/693505-transaero-raskrit-aktivi

Nadmitov, Ivanov and Partners Law Firm regularly represents clients in international arbitrations and foreign courts.


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