INMAR Legal Ltd. won a dispute with the Central Bank of the Russian Federation

INMAR Legal Ltd. achieved a desirable result for the client in an administrative dispute with the Central Bank of Russia in cassation court.

A joint stock company and the General Director of the company were brought to administrative liability by the Central Bank of the Russian Federation for failure to disclosure the information in the financial markets.

The administrative body held liable the client of INMAR, General Director of the company, and imposed a fine. The fact of being held administratively liable had negative effect for the General Director. Moreover, finding the General Director ‘s personal guilt allowed the Company to demand reimbursement of expenses for paying an administrative fine from the General Director.

The Law Firm tried to dispute the ruling of the Bank of Russia against the General Director in the first instance court and in the court of appeal, but the courts dismissed the claim. Nevertheless, the lawyers of the firm managed to obtain justice and achieve a desirable result for the client. Finally, due to appeal hearing the Bank of Russia’s ruling was cancelled as well as the orders of factual instances, and the amount of the fine paid was returned to the client.

The successful resolution of this dispute is of a high importance for the client as his actions were admitted as lawful and legal, and this recognition in its turn eliminated additional personal liability of the General Director to the Company.