Central bank says redomiciliation to challenge Russian courts

MOSCOW, Jul 13 (PRIME) -- A large number of redomiciliations of holding companies to Russia and the appearance of complex corporate structures will pose a challenge to the country's legal system, Director of the Central Bank's Corporate Relations Department Yelena Kuritsina said Thursday.

"What I see as our imminent challenge. We all know that large companies, large businesses have been structuring the ownership, shareholder agreements through foreign jurisdictions for a long time meaning court litigations took place in foreign jurisdictions. Now, there is no such option," the official said.

Kuritsina said that the corporate management structure of the relocating companies might be unfamiliar for Russian courts.

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