Triple Crisis with Ruble devaluation of 20%

20/03/2020

Watch the recording of our webinar “Triple Crisis with Ruble devaluation of 20%” from 17.03.2020

Questions & Answers

Status 17.03.2020

1. Our GD is outside of Russia and will not enter the country. How can I get signatures?

  • Documents can be signed abroad and sent to Russia or signed at the Russian consulate abroad. A PoA for certain tasks can be issued.
  • SCHNEIDER GROUP may temporarily take over functions as an authorized person as back-up.

2. Can I send documents between the countries when borders are closed?

  • It is our understanding that transport is not stopped and courier/postal services are working.

3. What instruments are available for increasing equity decreased by devaluation?

  • Convert debt to equity, change mark up

4. What can I do with fixed currency contracts?

  • Renegotiate immediately.

5. Impact of CFC legislation?

  • Check debt equity ratio with assumed exchange rate at balance sheet date, change interest payment timing, convert interest to debt.

6. Impact on budget?

  • Remodel budget and adapt negotiate and agree new situation with HQ.

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