A law that allows courts, in applying the consequences of the invalidity of a void transaction, to collect shares (stakes) of a strategic company, its property, as well as income received by the investor from the transaction, as income of the Russian Federation has been signed.
The measure applies to void transactions committed intentionally by dishonest foreign investors in violation of legislation. The company may recover losses from the investor in court (including lost profits) and compensate for damage to property.
In addition, the list of persons falling under the law on foreign investment in strategic companies has been expanded. Foreign legal and physical persons, Russian citizens with dual citizenship, as well as Russian citizens who have obtained foreign residency or equivalent documents, are considered foreign investors.
See Federal Law No. 139-FZ of April 28, 2023, at: http://publication.pravo.gov.ru/Document/View/0001202304280014
Nadmitov, Ivanov & Partners Law Firm advises on legislation on foreign investment in strategic companies and the acquisition of shares and stakes in companies with foreign participation.
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