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12.05.2023
13:30–15:00
Cross-Border Foreclosures and Bankruptcies
Pavilion F, conference hall F3
Broadcast
Issues surrounding transnational payment recovery – and transnational bankruptcy in particular –invariably involve various legal orders interacting with each other. It also encompasses work by legal specialists based in different jurisdictions. This is not always an easy task in and of itself, and now the new international legal reality arising from the war of sanctions has only complicated this process further. Numerous experts have identified a growing trend for jurisdictional fragmentation. When considering lawsuits, the claim is often made that it is impossible to ensure justice or fair consideration of disputes in a court or arbitration process as originally set out by the parties to a contract. What’s more, procedures to recognize and enforce foreign judgments and arbitral decisions (already a complicated process from a legal and formal point of view) have become much more difficult. What new challenges have emerged, and what approaches can be taken to address them?
Moderator
Rustem Miftahutdinov
Chairman, Debt Restructuring Assistance Fund
Panellists
Alexander Zamaziy
Managing Director – Chief of Staff and Deputy Chairman, Arbitration Center at the Russian Union of Industrialists and Entrepreneurs
Julia Litovtseva
Partner, Head of Bankruptcy and Anti-Crisis Business Protection Practice, Pepeliaev Group
Elena Mokhova
Associate Professor, Department of Legal Regulation of Business, National Research University Higher School of Economics
Tatyana Neveeva
Partner, Attorney, BGP Litigation
Iftikhar Pirov
Managing Partner, General Director, Sokolov, Maslov and Partners
Evgeny Rashchevsky
Partner, Head of International Arbitration and Litigation Practice, EPAM Law Offices
Sergey Seliverstov
Managing Director for Legal Support of Administrative and Economic Activities and Judicial Work, Russian Export Center
Du Yaling
Head of the International Cooperation Department, Ministry of Justice of the People's Republic of China (online)
Broadcast
Rustem Miftahutdinov
Chairman, Debt Restructuring Assistance Fund
Alexander Zamaziy
Managing Director – Chief of Staff and Deputy Chairman, Arbitration Center at the Russian Union of Industrialists and Entrepreneurs
Alexander graduated from the International Law Faculty of the Moscow State Institute of International Relations (University) of the Ministry of Foreign Affairs of the Russian Federation. He started his practical activity in 2003 and has been specializing in the field of arbitration, energy law and private international law.
He is included in the recommended lists of arbitrators of the Arbitration Centre at the RSPP, the Harbin Arbitration Commission (China) and the Arbitration Center at the National Chamber of Entrepreneurs of the Republic Kazakhstan «Atameken».
He acted as the sole arbitrator or as the arbitration panel member when solving over 200 commercial disputes, including arbitral proceedings according to the rules of international commercial arbitration.
Over the period of 2013-2015 he was a member of the working groups of the Russian Ministry of Justice, the Ministry of the Economic Development and State Duma of the Russian Federation, formed for preparation of the federal law project «On Arbitration (arbitration proceedings) in the Russian Federation».
Alexander has been lecturing at the Kutafin Moscow State Law University (MSAL) (since 2013 to 2016 – at the department of energy law, since 2017 – at the department of private international law).
Alexander has been a member of the editorial group of the Journal «Arbitration Court» and a member of the editorial board of the Magazine «Energy and law».
Alexander is a member of the Chartered Institute of Arbitrators (MCIArb), the ICC Russia Commission on International Arbitration, the Arbitration Association (RAA) and the Association of Lawyers of the Russian Federation.
He is included in the recommended lists of arbitrators of the Arbitration Centre at the RSPP, the Harbin Arbitration Commission (China) and the Arbitration Center at the National Chamber of Entrepreneurs of the Republic Kazakhstan «Atameken».
He acted as the sole arbitrator or as the arbitration panel member when solving over 200 commercial disputes, including arbitral proceedings according to the rules of international commercial arbitration.
Over the period of 2013-2015 he was a member of the working groups of the Russian Ministry of Justice, the Ministry of the Economic Development and State Duma of the Russian Federation, formed for preparation of the federal law project «On Arbitration (arbitration proceedings) in the Russian Federation».
Alexander has been lecturing at the Kutafin Moscow State Law University (MSAL) (since 2013 to 2016 – at the department of energy law, since 2017 – at the department of private international law).
Alexander has been a member of the editorial group of the Journal «Arbitration Court» and a member of the editorial board of the Magazine «Energy and law».
Alexander is a member of the Chartered Institute of Arbitrators (MCIArb), the ICC Russia Commission on International Arbitration, the Arbitration Association (RAA) and the Association of Lawyers of the Russian Federation.
Julia Litovtseva
Partner, Head of Bankruptcy and Anti-Crisis Business Protection Practice, Pepeliaev Group
What she specialises in
Yulia specialises in the anti-crisis protection of businesses. For more than 30 years she has been providing legal support to clients in bankruptcy cases or when risks associated with insolvency arise. Her PhD thesis was dedicated to bankruptcy issues. Yulia has sound experience in assessing managerial risks and providing support with regard to bankruptcy legislation when transactions are concluded and challenged and in safeguarding interests of parties to disputes over subsidiary liability.
Yulia has substantial experience in representing parties involved in cases associated with collecting bad debts, and in settling conflicts out of court, including through mediation. Her professional experience includes serving as a bankruptcy judge of the Kaluga Region State Commercial Court for over nine years, working as an attorney-at-law for a similar period and heading the Bankruptcy and Anti-Crisis Protection of Business Practice at Pepeliaev Group for over a decade.
Her main achievements
Yulia represents businesses in state commercial courts and courts of general jurisdiction of all levels, including in insolvency (bankruptcy) cases. Yulia successfully represented large international companies and major European banks to protect their assets in bankruptcy cases, including when transactions with contracting parties were challenged, thus enabling the clients to retain assets worth over RUB 20 billion in total.
Yulia is an expert in corporate law (including bankruptcy law) at the Russian Union of Industrialists and Entrepreneurs. She is also involved in the operations of the Agency for strategic initiatives on mediation and procedural legislation, and the development of an online dispute resolution system. In 2017 she joined the panel of arbitrators of the Arbitration Court of the Association of European Businesses.
Yulia has authored more than 60 academic papers. She was actively involved in drafting amendments to the Federal Law “On insolvency (bankruptcy)”, the Code of Administrative Offences (with regard to offences relating to bankruptcy) and the Russian Commercial Procedure Code.
Her major clients
USK Most, Ronin Trust, Baring Vostok Capital Partners, Alrosa, Cherkizovo Group, Kuzbank, Moldindconbank, MTT, Pernod Ricard, Procter & Gamble, Rietumu Banka, Rolf, Uhrenholt, ABB, Creditbank, Cyprus Development Bank, Dow Izolan, Isuzu, KYB Eurasia, Rigmora, Zara, Lukoil, METRO Cash & Carry, Itochu, Yandex, Oriflame, Bulgarneft.
What they say
“We are always happy to contact Yulia Litovtseva, who is not only an outstanding specialist, always ready to help and with excellent qualifications, but also is a wonderful person who is always a pleasant to deal with. I also think that her experience as a commercial court judge is certainly an advantage for us and for her other clients because she can see both sides of the same coin” (The Legal 500).
“Yulia Litovtseva, Head of Practice (Band 3), regularly represents Russian and international creditors in insolvency proceedings. Respondents emphasise that Yulia has ‘extensive experience in participating in court proceedings’ ” (Chambers Europe).
Clients praise her for being “easy to communicate with”, adding that Yulia Litovtseva is “an excellent speaker and negotiator” (Chambers Europe).
“Yulia Litovtseva is super-professional in handling bankruptcy cases” (IFLR1000).
“She is a brilliant lawyer, having huge experience in court, and she is highly skilled at thinking on her feet when she appears in court. She manages immediately to find the arguments to support her point of view” (IFLR1000).
Yulia specialises in the anti-crisis protection of businesses. For more than 30 years she has been providing legal support to clients in bankruptcy cases or when risks associated with insolvency arise. Her PhD thesis was dedicated to bankruptcy issues. Yulia has sound experience in assessing managerial risks and providing support with regard to bankruptcy legislation when transactions are concluded and challenged and in safeguarding interests of parties to disputes over subsidiary liability.
Yulia has substantial experience in representing parties involved in cases associated with collecting bad debts, and in settling conflicts out of court, including through mediation. Her professional experience includes serving as a bankruptcy judge of the Kaluga Region State Commercial Court for over nine years, working as an attorney-at-law for a similar period and heading the Bankruptcy and Anti-Crisis Protection of Business Practice at Pepeliaev Group for over a decade.
Her main achievements
Yulia represents businesses in state commercial courts and courts of general jurisdiction of all levels, including in insolvency (bankruptcy) cases. Yulia successfully represented large international companies and major European banks to protect their assets in bankruptcy cases, including when transactions with contracting parties were challenged, thus enabling the clients to retain assets worth over RUB 20 billion in total.
Yulia is an expert in corporate law (including bankruptcy law) at the Russian Union of Industrialists and Entrepreneurs. She is also involved in the operations of the Agency for strategic initiatives on mediation and procedural legislation, and the development of an online dispute resolution system. In 2017 she joined the panel of arbitrators of the Arbitration Court of the Association of European Businesses.
Yulia has authored more than 60 academic papers. She was actively involved in drafting amendments to the Federal Law “On insolvency (bankruptcy)”, the Code of Administrative Offences (with regard to offences relating to bankruptcy) and the Russian Commercial Procedure Code.
Her major clients
USK Most, Ronin Trust, Baring Vostok Capital Partners, Alrosa, Cherkizovo Group, Kuzbank, Moldindconbank, MTT, Pernod Ricard, Procter & Gamble, Rietumu Banka, Rolf, Uhrenholt, ABB, Creditbank, Cyprus Development Bank, Dow Izolan, Isuzu, KYB Eurasia, Rigmora, Zara, Lukoil, METRO Cash & Carry, Itochu, Yandex, Oriflame, Bulgarneft.
What they say
“We are always happy to contact Yulia Litovtseva, who is not only an outstanding specialist, always ready to help and with excellent qualifications, but also is a wonderful person who is always a pleasant to deal with. I also think that her experience as a commercial court judge is certainly an advantage for us and for her other clients because she can see both sides of the same coin” (The Legal 500).
“Yulia Litovtseva, Head of Practice (Band 3), regularly represents Russian and international creditors in insolvency proceedings. Respondents emphasise that Yulia has ‘extensive experience in participating in court proceedings’ ” (Chambers Europe).
Clients praise her for being “easy to communicate with”, adding that Yulia Litovtseva is “an excellent speaker and negotiator” (Chambers Europe).
“Yulia Litovtseva is super-professional in handling bankruptcy cases” (IFLR1000).
“She is a brilliant lawyer, having huge experience in court, and she is highly skilled at thinking on her feet when she appears in court. She manages immediately to find the arguments to support her point of view” (IFLR1000).
Elena Mokhova
Associate Professor, Department of Legal Regulation of Business, National Research University Higher School of Economics
• Elena has been engaged in expert and analytical work in the field of Cross-Border Bankruptcies and Private International Law for more than 15 years. Professional specialization includes such issues as cross-border bankruptcy, dispute resolution with a foreign element, conflicts of jurisdiction, recognition and enforcement of foreign judgments.
• Professional experience: scientific and teaching activities (18 years), comprehensive legal support of the group of companies (more than 7 years), the Supreme Commercial Court of the Russian Federation (2010-2014.).
• Author of monographs and more than 40 publications on such topics as the cross-border effect of bankruptcies, center of the main interests of the debtor, forum shopping and regulatory competition in cross-border insolvency, etc.
• Developer and teacher of an exclusive author's course on cross-border bankruptcies, taught at master's programs of leading universities (HSE, MSU, St. Petersburg State University).
• Lecturer at various professional courses for lawyers, speaker of major legal forums and events.
• Professional experience: scientific and teaching activities (18 years), comprehensive legal support of the group of companies (more than 7 years), the Supreme Commercial Court of the Russian Federation (2010-2014.).
• Author of monographs and more than 40 publications on such topics as the cross-border effect of bankruptcies, center of the main interests of the debtor, forum shopping and regulatory competition in cross-border insolvency, etc.
• Developer and teacher of an exclusive author's course on cross-border bankruptcies, taught at master's programs of leading universities (HSE, MSU, St. Petersburg State University).
• Lecturer at various professional courses for lawyers, speaker of major legal forums and events.
Tatyana Neveeva
Partner, Attorney, BGP Litigation
Tatyana Neveeva has extensive experience of acting for Russian and international clients before both state courts and international arbitral tribunals, including under the rules of the ICAC at the Russian CCI, ICC, SCC, and the LCIA. She specialises in resolution of corporate conflicts and disputes arising out of construction of major infrastructure facilities, as well as projects that require coordination of arbitral and state court proceedings in several jurisdictions at once.
Tatyana has supported M&A projects for many years. Since 2007, under her direct supervision, more than a hundred deals under both Russian and foreign law have been successfully closed and big investment projects have been implemented in construction and modernisation of infrastructure and manufacturing facilities. Tatyana’s clients include leading energy companies, industrial and oil&gas enterprises, construction and logistics companies, as well as top FMCG companies and major retailers.
Tatyana has been listed in the prestigious professional rankings Legal500, Best Lawyers, and Kommersant. She is a member of the International and Investment Disputes Panel of the Arbitration Centre at the RSPP, is an RSPP recommended arbitrator and is listed by the RAC as a real estate and construction expert. She features in the Russian Arbitrators Guide: Next Generation, published in 2021.
Tatyana graduated from Kutafin Moscow State Law University and holds LL.M. degrees from Manchester University (2005) and the University of Durham (2007). She has co-authored several law books released by such publishers as Thomson West and CMP Publishing International Law and Policy, as well as dozens of publications on corporate law and corporate disputes in Russian specialised journals.
Tatyana’s projects include:
• Representing a client in a number of infrastructure projects for acquisition, construction, and/or reconstruction of airports, including support during participation in tenders and privatisation deals, and drafting of investment and corporate agreements;
• Supporting a transaction for acquisition of Russian operators by a leading international duty-free shop operator;
• Supporting more than ten transactions for acquisition of regional operators by a leader on the Russian mobile communications market;
• Supporting a transaction for acquisition of several regional hypermarkets by a major retailer;
• Representing a client (international chemical product manufacturer) in a transaction for acquisition of a Russian business, including securing antitrust approvals for three stages of the transaction;
• Representing a major Japanese food manufacturer in a transaction for acquisition of Russian plants;
• Supporting a transaction for sale of a major Russian juice producer to Coca-Cola;
• Representing a client in a transaction for acquisition of a coal business;
• Representing a Forbes-listed client in a series of corporate disputes with an opposing minority shareholder;
• Representing pension funds in a series of high-profile corporate disputes stemming from the issuer’s refusal to undertake a compulsory redemption of shares.
Tatyana has supported M&A projects for many years. Since 2007, under her direct supervision, more than a hundred deals under both Russian and foreign law have been successfully closed and big investment projects have been implemented in construction and modernisation of infrastructure and manufacturing facilities. Tatyana’s clients include leading energy companies, industrial and oil&gas enterprises, construction and logistics companies, as well as top FMCG companies and major retailers.
Tatyana has been listed in the prestigious professional rankings Legal500, Best Lawyers, and Kommersant. She is a member of the International and Investment Disputes Panel of the Arbitration Centre at the RSPP, is an RSPP recommended arbitrator and is listed by the RAC as a real estate and construction expert. She features in the Russian Arbitrators Guide: Next Generation, published in 2021.
Tatyana graduated from Kutafin Moscow State Law University and holds LL.M. degrees from Manchester University (2005) and the University of Durham (2007). She has co-authored several law books released by such publishers as Thomson West and CMP Publishing International Law and Policy, as well as dozens of publications on corporate law and corporate disputes in Russian specialised journals.
Tatyana’s projects include:
• Representing a client in a number of infrastructure projects for acquisition, construction, and/or reconstruction of airports, including support during participation in tenders and privatisation deals, and drafting of investment and corporate agreements;
• Supporting a transaction for acquisition of Russian operators by a leading international duty-free shop operator;
• Supporting more than ten transactions for acquisition of regional operators by a leader on the Russian mobile communications market;
• Supporting a transaction for acquisition of several regional hypermarkets by a major retailer;
• Representing a client (international chemical product manufacturer) in a transaction for acquisition of a Russian business, including securing antitrust approvals for three stages of the transaction;
• Representing a major Japanese food manufacturer in a transaction for acquisition of Russian plants;
• Supporting a transaction for sale of a major Russian juice producer to Coca-Cola;
• Representing a client in a transaction for acquisition of a coal business;
• Representing a Forbes-listed client in a series of corporate disputes with an opposing minority shareholder;
• Representing pension funds in a series of high-profile corporate disputes stemming from the issuer’s refusal to undertake a compulsory redemption of shares.
Iftikhar Pirov
Managing Partner, General Director, Sokolov, Maslov and Partners
Iftikhar Pirov has been dealing with maritime and fishing law issues for more than 25 years and is an internationally recognized expert in these areas.
In 1992, Iftikhar Pirov became one of the founders of the firm Sokolov, Maslov and Partners, and he has been a member of the boards of directors of a number of large enterprises since 1996.
Possessing extensive experience and knowledge in maritime, customs and tax law allows Iftikhar to provide comprehensive assistance to clients in solving the problems facing them. Iftikhar Pirov provides comprehensive legal advice to Russian and foreign companies on merchant shipping and fishing, including:
• development and structuring of transactions regarding construction, management, financing, purchase and sale of merchant and fishing fleets,
• registration and customs clearance of ships;
• settlement of disputes in connection with the operation of merchant ships and fishing fleets and carriage by sea;
• advice on industrial and coastal fishing, consolidation and development of quotas for aquatic biological resources;
• advice on taxation.
Iftikhar graduated from the Department of International Law of Moscow State Institute of International Relations (MGIMO).
In 1992, Iftikhar Pirov became one of the founders of the firm Sokolov, Maslov and Partners, and he has been a member of the boards of directors of a number of large enterprises since 1996.
Possessing extensive experience and knowledge in maritime, customs and tax law allows Iftikhar to provide comprehensive assistance to clients in solving the problems facing them. Iftikhar Pirov provides comprehensive legal advice to Russian and foreign companies on merchant shipping and fishing, including:
• development and structuring of transactions regarding construction, management, financing, purchase and sale of merchant and fishing fleets,
• registration and customs clearance of ships;
• settlement of disputes in connection with the operation of merchant ships and fishing fleets and carriage by sea;
• advice on industrial and coastal fishing, consolidation and development of quotas for aquatic biological resources;
• advice on taxation.
Iftikhar graduated from the Department of International Law of Moscow State Institute of International Relations (MGIMO).
Evgeny Rashchevsky
Partner, Head of International Arbitration and Litigation Practice, EPAM Law Offices
Professional organizations:
· Russian Arbitration Center – Arbitrator
· International Board of the Arbitration center at the RUIE – Arbitrator
· Chartered Institute of Arbitrators (CIArb) - membership
· International Arbitration Court of Qingdao Arbitration Commission in Demonstration Zone of SCO - Vice-president
· Korean Commercial Arbitration Board (KCAB INTERNATIONAL)
· Solicitors Regulation Authority – Solicitor of the Senior Courts of England and Wales.
Practice areas:
- Insolvency Regulation
- International Arbitration and Litigation
- Commercial Contracts
- Energy & Natural Resources
- Electricity Regulation
- Pharmaceutical Regulation, Life Science
Evgeny is a lecturer at the Moscow State University; he has authored numerous articles in specialised Russian and international legal publications in the area of international arbitration and civil law, as well as several leading Russian commentaries in the field of international arbitration.
· Russian Arbitration Center – Arbitrator
· International Board of the Arbitration center at the RUIE – Arbitrator
· Chartered Institute of Arbitrators (CIArb) - membership
· International Arbitration Court of Qingdao Arbitration Commission in Demonstration Zone of SCO - Vice-president
· Korean Commercial Arbitration Board (KCAB INTERNATIONAL)
· Solicitors Regulation Authority – Solicitor of the Senior Courts of England and Wales.
Practice areas:
- Insolvency Regulation
- International Arbitration and Litigation
- Commercial Contracts
- Energy & Natural Resources
- Electricity Regulation
- Pharmaceutical Regulation, Life Science
Evgeny is a lecturer at the Moscow State University; he has authored numerous articles in specialised Russian and international legal publications in the area of international arbitration and civil law, as well as several leading Russian commentaries in the field of international arbitration.
Sergey Seliverstov
Managing Director for Legal Support of Administrative and Economic Activities and Judicial Work, Russian Export Center
Du Yaling
Head of the International Cooperation Department, Ministry of Justice of the People's Republic of China