On July 26, 2013 the Supreme Arbitration (Commercial) Court of the Russian Federation (the VAS) released its written decision in the matter of TSZh Skakovaya v. Arteks Corporation (Decision). This long-awaited Decision is extremely significant for all foreign investors in Russia.
Russia's dilapidated infrastructure is well known, and only a few examples will suffice to illustrate the problem. Russia's home heating and water supply systems are considered to be degraded by 60 to 80 percent, and almost a third of the housing stock is completely worn out.
On March 11, 2011, head of the Federal Service for Financial Markets Vladimir Milovidov announced to Kommersant that the FSFM plans to liberalize Russian companies' ability to place shares outside of Russia. In a nutshell, the proposal will permit Russian companies to place their shares abroad in the form of depositary receipts without any percentage limitations.