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Russian government, top courts speak against 'Rotenberg bill' - report

11:23 06/11/2014

MOSCOW, November 6 (RAPSI) – The so-called 'Rotenberg bill' which introduces compensations to Russian nationals and companies whose assets are forfeited abroad has been criticized by the government, the Supreme Court and the Supreme Commercial Court, Kommersant newspaper reports on Thursday.

The bill was submitted to the lower house of parliament after Italy froze about 28 million euros ($36 million) of assets belonging to Russian billionaire Arkady Rotenberg, who got under the EU sanctions in July.

Russian citizens or companies, which suffered losses as a result of unjust decisions issued by foreign courts, would be compensated by the state budget, according to the bill. To get such compensation a person or a company that suffered losses should apply to a Russian court.

"It is unacceptable to shift risks of individuals and companies that are subject to orders of foreign courts onto the taxpayers", the newspaper quoted deputy chair of the Supreme Court Vasily Nechayev as having said.

The bill “actually proposes unsubstantiated privileges to Russians who are involved in legal proceedings abroad", according to Nechayev.

The State Duma adopted the bill in the first reading in October, although Economic Development Minister Alexei Ulyukayev warned that it could cause further capital outflow.

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Russian government, top courts speak against 'Rotenberg bill' - report

11:23 06/11/2014 The so-called 'Rotenberg bill' which introduces compensations to Russian nationals and companies whose assets are forfeited abroad has been criticized by the government, the Supreme Court and the Supreme Commercial Court.
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