Russian Supreme Court Clarifies Liability for Default

08.04.2016

Legal Update No. 558

Goltsblat BLP advises of Resolution No. 7 issued on 24 March 2016 by the Plenum of the Supreme Court of the Russian Federation "On Courts Applying Certain Provisions of the Russian Civil Code Regulating Liability for Default" (the "Resolution").

In the current context of an unstable economy and increase in default-triggered claims, the Resolution will be especially important in disputes over:

  • Damages: burden of proof eased, presumptions adopted;
  • Indemnity (article 406 of the Russian Civil Code);
  • Liability for bad faith negotiations (article 434 of the Russian Civil Code);
  • Enforcement of specific performance;
  • Judicial penalty ("astreinte") (article 308 of the Russian Civil Code);
  • Use-of-money interest (article 395 of the Russian Civil Code);
  • Lawful interest on money liabilities (article 317 of the Russian Civil Code);
  • Penalty.

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This legal update has been prepared with the assistance of:

  • Vladislav Vdovin, Head of Group, Commercial Law Practice, 
    Goltsblat BLP, +7 495 287 4444,
    Vladislav.Vdovin@gblplaw.com
  • Evgeny Oreshin, Senior Associate, Dispute Resolution, Goltsblat BLP, +7 495 287 4444,
    Evgeny.Oreshin@gblplaw.com

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