Bringing charters of Russian limited liability companies in line with new requirements

This reminder legal alert is intended for those clients that have limited liability companies in Russia founded prior to July 1, 2009, and that have not yet initiated the process of bringing the charters of such companies into compliance with the requirements of the revised Russian legislation on limited liability companies.

This is to remind you that, on July 1, 2009, Federal Law No. 312-FZ of December 30, 2008 "On Amendments to Part I of the Civil Code of the Russian Federation and Certain Other Legislative Acts of the Russian Federation", as further amended, (the "Law") came into force.

Article 5.2 of the Law prescribes that all limited liability companies founded prior to its effective date should bring their charters into compliance with the requirements of the Law before January 1, 2010. And although the Russian parliament is currently considering postponing or cancelling this deadline, this will not generally affect the obligation of the limited liability companies to make their charters compliant with the new rules.

Baker & McKenzie provides a full range of services in connection with making charters of limited liability companies compliant with the Law. We are prepared to address any questions that may arise in connection with the Law as well as to advise on the procedure for approval and registration of restated charters in accordance with the new rules.