Rybalkin, Gortsunyan, Dyakin and Partners Advocates Bureau (RGD) announces the start of the project to return funds and securities of foreign issuers blocked by Euroclear to Russian and foreign investors. The purpose of the project is not only to return the already accrued coupons and dividends on securities, but also to ensure free disposal of securities and receipt of future payments.
Together with the leading Belgian counsel and GR experts, RGD attorneys have elaborated a legal stance that might be taken by the investors, based on the pilot projects. We intend to apply to Euroclear and the relevant EU regulator for a licence authorising the transfer of securities and funs ultimately owned by non-sanctioned persons.
Such licence might set out a range of requirements, and if such requirements are met, transactions with the securities of a certain class of investors will be allowed. To ensure transparency, investors' compliance with such requirements may be verified by an independent inspector ‑ for example, by a company with extensive compliance experience. Besides, securities on the accounts of the National Settlement Depository may be transferred to the accounts of an independent depository, which will allow receiving payments on, and disposing of, the securities in the future.
If Euroclear refuses to apply for the above licence or the regulator refuses to grant it, the investors may apply to the EU courts requesting to grant such licence and unblock the investors’ securities and funds.
Currently, the aggregate value of the claims of the investors who have already approached RGD is around US$500 mln. Investors who are interested in joining the above claims may contact the RGD attorneys by sending a letter with the documents evidencing title to securities and the amount of already accrued payments attached to firstname.lastname@example.org.
RGD and its partners are ready to fully finance the costs of the project. The joining investors will not have to bear any costs until successful completion of the project. Only after successful completion, the investors will pay an agreed success fee.
This notice is for information only and does not constitute a public offer.
By sending a letter to email@example.com, you agree that RGD will receive and process your personal data.
Rybalkin, Gortsunyan, Dyakin & Partners (RGD) is a fast-paced law firm of the next generation, combining a leading Russian practice focusing on international dispute resolution and a high-end corporate practice servicing complex transactions and projects.
We support clients from all over the world in their business dealings in our key practice areas involving Russia and CIS countries. In addition, our firm offers unparalleled expertise in foreign legal matters to Russian companies with significant international presence.
We are a cohesive team of seasoned professionals with a background in leading international law firms.
Our lawyers have worked on the largest corporate deals, investigations and disputes in the history of modern Russia and represented Russian companies in over 170 jurisdictions worldwide.
+7 (495) 139 65 00