External management of departing companies. how can it work

“To protect the interests of the Russians”

“United Russia has submitted to the State Duma a bill on the foreign management of foreign companies, which has announced its withdrawal from the Russian market. “The main goal is to protect Russian interests, save jobs and support the economy,” the party’s Telegram channel reported.

They stated that the initiative “will affect companies that make decisions based on anti-Russian sentiments in Europe and the United States without obvious economic reasons (the decision to leave the Russian market – socialbites.ca)”. At the same time, their activities “significantly affected the stability of the economy”, for example, if they were “the sole suppliers of critical industries, producing essential goods or forming cities”.

“The decision on such companies will be made by the interdepartmental commission under the Ministry of Economic Development, on the recommendations of other ministries and regional heads. The transition of management from foreign owners to foreign management will only be appointed by court decision,” he said.

It also clarifies that “foreign owners will retain the opportunity to continue operating in Russia or to sell a block of shares.”

“So they don’t lose their jobs and workers get more job security,” the message says.

without “infringement”

The initiators of the introduction of a new bill in the State Duma were deputies of United Russia Anatoly Vyborny, Mikhail Starshinov, Viktor Vodolatsky and Oleg Matveychev.

The text of the document states that the initiative “does not seek to unreasonably violate the rights and legitimate interests of the organization, its creditors and shareholders.”

In addition to its social significance, a foreign company is subject to draft law if it produces and sells goods “under conditions of natural monopoly” or “its position in the commodity market is considered dominant.” For example, an organization may be “the sole manufacturer of certain types of products, including pharmaceuticals or medical devices, or the sole supplier of unique products in Russia included in the register of sole suppliers”.

In addition, the number of employees of the organization may be “not less than twenty-five percent of the working population” living on the territory of the relevant locality.

At the same time, it should threaten the termination of the company’s operations, a human-caused or environmental disaster, loss of life or termination of the operation of life support facilities, an unreasonable increase in prices and the cessation of the work of other organizations. relevant organizations.

“The state development company VEB.RF or another organization determined by the decision of the interdepartmental commission (subordinate to the Ministry of Economic Development – socialbites.ca) is appointed as the external administration,” the text of the bill states.

Expropriation without compensation

The current draft law envisages less drastic actions than the previous document submitted by the Crimean State Council to the State Duma on April 8, and glance expropriation of property belonging to “non-enemy countries” and their citizens from February 24 of this year.

According to the text of the document, it is proposed to amend the second article of the Civil Code of the Russian Federation. We are talking about objects of property rights, such as movable and immovable property, cash, bank deposits, securities, company rights, other property (assets) belonging to foreign states and persons mentioned in the first paragraph, directly or through dependent persons. Section.”

The bill proposed to grant the state authorities of the constituent entities of the Russian Federation the right to forcibly confiscate in their favor the property of foreign states and foreign persons engaged in hostile acts against the Russian Federation, Russian legal entities and individuals. In addition, their property must be confiscated “without compensation for its value.”