Client Alert

| November 7, 2011

Recent Developments in Russian Supreme Commercial Court Practice

On 14 October 2011, the Supreme Commercial ("Arbitrazhniy") Court of the Russian Federation published Information Letter No. 147 on its website. The letter deals with court practice when applying Russian Civil Code provisions regarding facility agreements. Below is a brief overview of the two most important issues raised in the Information Letter – the status of bank fees and negative covenants under Russian law.

This memorandum is intended only as a general discussion of these issues. It is not considered to be legal advice. We would be pleased to provide additional details or advice about specific situations. For additional information on this important topic, please feel free to call upon your Dewey & LeBoeuf relationship partner. No part of this publication may be reproduced, in whole or in part, in any form, without our prior written consent. For further information on Dewey & LeBoeuf, please visit www.dl.com. +1 888 532 6383