27 May 2014 01:00 AM

27 May 2014 01:00 AM

The International Project Finance Association (IPFA) would like to announce our next event in Moscow, entitled ‘IPFA Russia & the CIS: Moscow: Recent Changes to the Russian Civil Law '. This briefing will kindly be hosted by corporate member Freshfields Bruckhaus Deringer on Tuesday 27 May 2014.Recent changes to the Russian Civil Law are aimed at facilitating project finance in Russia and in particular introduce concepts of escrow accounts and special purpose PF companies. The benefit of this topic is that the amendments have already been enacted, with the majority of them coming into force in July, the discussion should be particularly relevant from the practical perspective.

The agenda is outlined below;

Topics to be addressed

• Russian legislation on project finance becoming more in line with the international standards and practices – overview of the recent changes to the Russian Civil Code.
• Special Purpose PF Company – what are the key benefits and how bankruptcy-remote the SPPFC actually is?
• Infrastructure bonds – recent improvements to the available security package; are subordination and waterfall of payments now permissible?
• Security manager – does Russian law now allows the equivalent of a security trustee to be appointed
• Securing cash-flows – significant changes to rules on pledge of bank accounts and new concepts of escrow accounts and nominal accounts introduced; how close the new regulation is to what is practically required?