BGP Litigation counsel Sergey Lisin speaks with about the clarification issued by the Presidium of the Russian Supreme Court regarding application of the legislation on valuation in the context of appraising the value of a stake in a company

"But the matter was put to rest by the Presidium, which found that it is important to apply not the corporate legislation, but the legislation on valuation. It remanded the cases, although it could have decided them on the merits, says Sergey Lisin, counsel at BGP Litigation. But in the case of Raevsky he believes the decreasing coefficients are justified: "If an LLC wants to sell its shares or participatory interests, a potential investor might not pay the full price for it, given that the stake doesn't give full corporate control"."

The full article (in Russian) is available here: "Президиум ВС: Суды не могут подменять экспертов в оценке стоимости доли общества".