Supreme Arbitrazh Court of Russia Has Given Retroactive Effect to Law

21.03.2014, Marina V. Abramova
Supreme Arbitrazh Court of Russia Has Given Retroactive Effect to Law
The restated Article 178 of the Russian Civil Code effective as of September 1, 2013 has substantially changed the previous version thereof. The Supreme Arbitrazh Court of Russia has clarified how the transactions made pursuant to the old version of that Article should be treated in view of the restated Article. AGP attorney Marina Abramova discusses the question of whether such approach is justified or brings about some risks.