Invalidity of Transactions with a Flaw in Will


On 10 December 2013 the Presidium of the Supreme Commercial Court (the “Presidium”) issued Information Letter No. 162 with an overview of court practice on the application of Articles 178 and 179 of the Russian Civil Code (the “Overview”).

According to the Russian Civil Code, the court may declare a transaction invalid, in particular, if it has been made under the influence of (i) a substantive delusion – Article 178 of the Civil Code or (ii) deceit, violence, threat or adverse circumstances – Article 179 of the Civil Code1. The SCC Presidium has summed up the legal views of the courts in this regard.

In this alert we refer to the more significant conclusions of the SCC Presidium covering (i) competitiveness of claims; (ii) the nature of a one-sided transaction; (iii) delusion regarding the legal effects of a transaction; (iv) threat to perform lawful actions; (v) the importance of due prudence in the making of a transaction; and (vi) conclusion on the relevance of the clarifications established in the Overview in terms of the Civil Code reform. We also examine issues included in the draft overview but dismissed by the Presidium.

Please see full alert below for more information.

LOADING PDF: If there are any problems, click here to download the file.

Written by:

Published In:

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

© White & Case LLP | Attorney Advertising

Don't miss a thing! Build a custom news brief:

Read fresh new writing on compliance, cybersecurity, Dodd-Frank, whistleblowers, social media, hiring & firing, patent reform, the NLRB, Obamacare, the SEC…

…or whatever matters the most to you. Follow authors, firms, and topics on JD Supra.

Create your news brief now - it's free and easy »

All the intelligence you need, in one easy email:

Great! Your first step to building an email digest of JD Supra authors and topics. Log in with LinkedIn so we can start sending your digest...

Sign up for your custom alerts now, using LinkedIn ›

* With LinkedIn, you don't need to create a separate login to manage your free JD Supra account, and we can make suggestions based on your needs and interests. We will not post anything on LinkedIn in your name.