Invalidity of Transactions with a Flaw in Will

more+
less-

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.


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

Written by:

more+
less-

White & Case LLP on:

Reporters on Deadline

"My best business intelligence, in one easy email…"

Your first step to building a free, personalized, morning email brief covering pertinent authors and topics on JD Supra:

Sign up to create your digest 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. Or, sign up using your email address.
×
Loading...
×
×