Triple Crisis with Ruble devaluation of 20%

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

 

We do not claim completeness of information. The information contained in this website has been provided by SCHNEIDER GROUP for information purposes only and is not to be considered as legal advice. Updates and changes are happening constantly. Please contact us for concrete questions or further information.

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.
Christopher Schagerl
Director
+7 / 495 / 956 55 57