Posted Sep 22, 2011 02:45 pm CDT
Ten leading law firms in Russia have banded together to lobby for legal reform that they and others hope will help the country become a financial center by modernizing its corporate standards.
The Partnership for the Advancement of Corporate Law was formally created earlier this month, reports Legal Week.
“The partnership will represent the interests of foreign and local investors, knowing and defending their business needs and finding and proposing solutions for a better protection of their rights under Russian law,” says partner Dmitry Krupyshev of Liniya Prava, one of the member law firms.
English law is currently applied in many Russian business transactions, because it is in better accord with modern corporate practices, the article notes.
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