Law of Russia

Lenta IPJSC: Information for Holders of Global Depositary Receipts of IPJSC Lenta

Retrieved on: 
Friday, August 5, 2022 - 3:05pm

Saint-Petersburg, Russia, 5 August , 2022: Lenta IPJSC (LSE: LNTA, MOEX: LENT, the Company), one of leading Russian retailers, informs on amendments of the laws of the Russian Federation related to the procedure for conversion (cancellation) of the Global Depositary Receipts representing the Companys ordinary shares (the Companys GDRs).

Key Points: 
  • Saint-Petersburg, Russia, 5 August , 2022: Lenta IPJSC (LSE: LNTA, MOEX: LENT, the Company), one of leading Russian retailers, informs on amendments of the laws of the Russian Federation related to the procedure for conversion (cancellation) of the Global Depositary Receipts representing the Companys ordinary shares (the Companys GDRs).
  • the procedure for forced conversion of depositary receipts:
    Holders of depositary receipts, which are accounted for by foreign depositaries, who are unable to get Shares, including due to sanctions, are entitled to apply to the Custodian with a request for forced conversion of depositary receipts.
  • This statement is for information purposes only and IPJSC Lenta shall not be liable if the interpretation of applicable laws and regulations by the relevant state authorities differs from the interpretation given in this statement.
  • Holders of depositary receipts should make an independent decision on how to act in connection with the published statement and, if necessary, contact their investment, legal and other advisors.

NCLA Files Class-Action Lawsuit to Put an End to CDC’s Lawless Nationwide Eviction Moratorium

Retrieved on: 
Thursday, March 18, 2021 - 7:12pm

NCLA argues that agencies have no inherent power to make law, and nothing in the relevant statutes or regulations gives CDC the power to issue an eviction moratorium order.

Key Points: 
  • NCLA argues that agencies have no inherent power to make law, and nothing in the relevant statutes or regulations gives CDC the power to issue an eviction moratorium order.
  • Two federal courts in less than one week have agreed that CDCs order is invalid.
  • The CDCs order also impermissibly commandeers state courts and state officers to apply, enforce, and implement an unconstitutional federal law.
  • This lawsuit provides the court with an opportunity to end this civil liberties nightmare once and for all.