Round table as part of St. Petersburg International Legal Forum “Currency clause: elaborating common approaches”

18.05.2016
Tomorrow, May 19, from 1.00 to 2.00 p.m., the Round table “Currency clause: elaborating common approaches” will take place as part of the St. Petersburg International Legal Forum. The discussion is organized by YUST Law Firm in association with Pravo.ru portal. Accredited participants of the St. Petersburg International Legal Forum are invited - entrance is free.

During the round table the speakers will analyze the possible ways of solving the currency clause problem in contracts entered into before fall 2014, taking into account the new provisions of Russian law and European experience, and they will also suggest legal approaches taking into consideration the latest economic trends for use in contractual work. The participants of the discussion will talk about:

• “Currency clause issue”: importance for long-term contracts without the right of unilateral termination;
• Existing mechanism of price determination through currency clause as a reason for substantial disbalance between parties to a contract;
• Admissibility and limits of judicial intervention into contractual relationships between parties;
• Collapse between the requirement to take into account legal interests of the counterparty during execution of a contract (paragraph 3, art. 307 of the Civil Code of Russia) with the commercial interest to gain maximum profit;
• Definition and limits of business risks;
• Necessity to provide stability of turnover in the conditions of unstable economy, constantly changing legislation and law enforcement practice.

Among the speakers will be member of the Russian Academy of Sciences, director of Institute of State and Law of the Russian Academy of Sciences Andrey Lisitsyn-Svetlanov, partners of YUST Law Firm Alexander Bolomatov, Tatiana Starikova, Alexander Evdokimov, adviser of YUST Law Firm, head of Special Litigation Projects Group Anton Sirotkin, as well as director of M-Logos Law Institute, professor of Higher School of Economics under the Government of Russia Artyom Karapetov.

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Announcement of the event