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Andrey Novakovskiy

Managing Partner

Andrey Novakovskiy has a long-term experience in highly complex projects of attracting capital in the local and international stock markets, including the first Russian IPO's abroad. He provides counsel on the Russian legislation to the leading foreign banks and international law firms. The Russian Managers Association has included him in its Top 1000 Russian Managers Rating. He has been highly recommended by European Legal Experts 2008 and Chambers Global 2007. He is a member of Best Lawyers Board of Advisors (USA).
Specialization
Andrey Novakovskiy is an expert in the field of privatization; he also specializes in foreign exchange regulation, foreign trade activities, foreign investments, competitiveness and antitrust activities, legal regulation of the securities market, and the corporate law. He has an extensive operational experience with professional participants of the securities market. For a number of years, he was the Chief Counselor of the Federal Stock Corporation.
Professional Experience
Andrey Novakovskiy, among other things, participated in the following projects:
  • Consulted the RF Federal Commission for the Securities Market on issues of the securities market information disclosure legislation development
  • Participated in drafting a bill on mortgage securities upon the instructions by OAO Agency on Housing Mortgage Lending
  • Consulted OAO Agency on Housing Mortgage Lending pertaining to issue of the Agency's bonds backed with sovereign guarantee of the Russian Federation
  • Consulted the Russian Federal Property Fund on developing a procedure for open bid auction first applied to sell 74% interest in OAO Slavneft
  • Led a team of Liniya Prava lawyers consulting the Russian Federal Property Fund in connection with the privatization of 50 thousand shares in OAO LUKOIL Oil Company in the international stock market
  • Led a team of Liniya Prava lawyers developing a prototype for OAO Gazprom corporate governance reform
  • As the Chief Legal Adviser, consulted OAO Vympel Communications on pre-issue aspects of their Secondary Public Offering at the New York Stock Exchange in the form of ADRs
  • Coordinated participation of Liniya Prava lawyers in efforts to develop the 2001 Corporate Governance Code with further submission of the Draft Code to the Federal Commission for the Securities Market
  • As the Director of in-house legal department, provided counsel to the Federal Stock Corporation on preparing and conducting the specialized auctions to sell stock in the largest Russian open joint-stock companies (OAO Lukoil Oil Company, RAO UES, OAO East Siberian Oil Company, etc.)
  • Developed tender documentation to sell large blocks of shares in OAO Gazprom for the total amount of $500 million at the auctions conducted by the Federal Stock Corporation

Andrey.Novakovskiy@lp.ru



Dmitriy Glazounov

Partner

Dmitriy Glazounov heads the Company practice supporting various securitization projects. He is an expert in legislation in the following fields: joint-stock companies, taxation, corporate and banking law, and securities transactions, including mortgage securities. He has got the unique experience of lawmaking in securitization and mortgage lending. He has the rank of Actual State Counsellor of the Russian Federation, 3rd class, and has been awarded with the Certificate of Honor of the Federal Commission for the Securities Market of Russia.

He has been recommended by European Legal Experts 2008 as a legal expert in banking and financial sector.

Specialization
Specialization – transaction in the securities market, projects associated with mortgage, real estate, project financing.

Dmitriy Glazounov is a specialist in the following lines of legislation: joint-stock companies, the securities market, taxation, banking and currency transactions; he has a professional knowledge in the field of development and legal assessment of various innovative schemes of investing in equity and debt securities of sizeable Russian issuers; he is well familiar with peculiarities of legal regulation associated with issue and circulation of equity and debt securities in the U.S.A. and the leading countries of Western Europe, as well as many aspects of modern systems of information disclose in the developed foreign securities markets, and special features of foreign mortgage lending markets.

Mr. Glazounov has actively participated in law-making activities in the securities market and mortgage lending, he is one of the Federal Law on Mortgage Securities developers, a coauthor of the Code of Corporate Governance, many novelties in Federal Laws on the securities market, on joint-stock companies, on the state registration of title to real estate and relevant transactions, on mortgage, etc.

In 2004 – 2006, Dmitriy Glazounov served as the Executive Director, then as a Deputy General Director of OAO Agency for Housing Mortgage Lending, in 2000 - 2004 he was a member of the Federal Commission on the Securities Market, in 1998 - 2000 he was employed by the Legal Department of OAO Federal Fund Corporation. He has joined the Law Firm Liniya Prava in 2006.
In Liniya Prava, Dmitriy Glazounov took part in various projects associated with business re-structuring, holding structure creation, mergers and acquisitions, project financing, securities issue (including IPOs, equity consolidation, sizeable bonded loans underwriting), ADR/GDR placement.

Dmitriy.Glazounov@lp.ru



Alexander Timofeev

Partner

Alexander Timofeev leads the Company’s practice related to fixed income instruments issue support, as well as public and private stock placement. He coordinates activities associated with deal structurization, development of any documentation required by the Russian legislation (issue prospectus, other issue related papers), and registration of securities issues in the FFMS of Russia. He is an expert in corporate governance, information disclosure and listing procedure in the Russian and foreign financial markets. He has been recommended by Chambers Global 2007. Alexander Timofeev has graduated from the Plekhanov Russian Academy of Economics (majoring in Finance Management), Law School of the Perm State University, and Eurocentres Lee Green School of Linguistics, London, UK. He worked as legal adviser of Prisco Corp. group of companies and OAO North Sea earlier.
Specialization
Specialization: corporate law, including corporate governance, securities, and information disclosure in the securities market.
Professional Experience
Alexander Timofeev provided counsel to OAO Gazprom on corporate governance improvement in that company, including full-scale audit of existing and development of new internal documents of the company. He represented OAO Gazprom in the Federal Commission on Securities of Russia within its project to create the Federal Corporate Behavior Code. He consulted a number of underwriters including Alpha Bank, Trust and Investment Bank, Raiffeisenbank Austria on multimillion issues of debt papers by some Russian issuers such as ALROSA ($16.7 million), AlphaFinance ($33 million), IAPO (RUB500 million), UES (RUB3 billion) and others. Currently Mr. Timofeev is in charge of Liniya Prava’s activities in the field of consulting related to issue and placement of securities.

Alexander.Timofeev@lp.ru



Roman Belenkov

Partner

Roman Belenkov supervises activities related to coordination and legal support of Russian companies’ IPO projects in the Russian Federation and abroad; issue of ADRs, GDRs, and Eurobonds. He provides comprehensive support at pre-IPO stage of such projects, as well as consults on reorganization and re-structuring. He has expert knowledge in the field of stock consolidation including squeeze-out procedures, privatization, and antimonopoly regulation.
He has been recommended by Chambers Global 2007.

Specialization

Securities market transactions, corporate law, anti-trust legislation, and project financing.

In Liniya Prava, Roman Belenkov participates in various projects associated with reorganization of legal entities, changes in their corporate structure, acquisition of interests and shares in chartered capital of companies, issuance of securities (including security public offerings, equity consolidation, and placement of sizeable bonded loans), ADR placement, soliciting approvals from the antimonopoly agencies, and raising capital.

Professional Experience

Roman Belenkov, among other things, participated in the following projects:

  • Public / strategic investor offerings of shares in such companies as OGK-2, OGK-3, TGK-6, Kuzbassenergo, TGK-13, Cherkizovo Group, Sitronics, Sistema Hals, Comstar-OTS, The Seventh Continent, Razgulay Group, Severstal Auto, Mechel
  • Large company business reorganization and restructuring (including prior to public or private offerings)
  • Providing counsel in respect of various legal matters (including corporate law and issuance of securities) and supporting projects of such companies as Evraz Group, Ilym, Joint-Stock Financial Corporation Sistema, Vnukovo Airport, Vympelcom, RAO UES of Russia, Russian Railways, Moscow United Energy Company, Siberian Coal Energy Company
  • Providing counsel to large Russian issues, placement arrangers and underwriters in respect of public bonded loan offerings
    • Placement of the first in Russia mortgage bond issue (GPB-Mortgage)
  • Providing counsel to the Russian Federal Property Fund on privatization of shares in OAO LUKOIL Oil Company held by the federal government, with subsequent issuing and global public offering of ADRs with the said shares being their underlying asset
  • Legal support to activities of the V.A.Engelgardt Institute of Molecular Biology at the Russian Academy of Sciences

Roman.Belenkov@lp.ru



Yury Tuktarov

Yury Tuktarov has a 10-year record of delivering expert legal advice in corporate finance. Yury was the Head of the legal committee of the working group for housing finance and securitization in Russia at the IFC. Yury appears to be a most active contributor to the development of the domestic housing mortgage lending – he drafted standard documentation for executing transactions with mortgage loans and deeds that currently is widely used by major banks dealing in mortgage in Russia.

Specialization

Securitization, project finance, syndicated and secured lending, derivatives 

Professional Experience

From April till July, 2008, Yury supervised work for drafting a new law on securitization aimed at the increase of financial assets subject to securitization and purposed for establishing legal mechanisms for securitization that shall comply with the relevant international standards.

Yury delivered advice on the initial MBS issue of GPB-Mortgage (USD 122 mln.) and advised on the first bonds issuance with pledge of housing loans totaling USD 500 mln. of the Housing Finance Bank.

Recent deals with Yury’s legal advice comprise a syndicated lending transaction between Sibirtelecom (borrower) and Credit Suisse, Natixis SA and Natixis Bank (creditors); IPO of Sinergy; bond issues of series of Russian major companies.

Yury.Tuktarov@lp.ru

 

 

 



News

30.07.2010PROJECT FINANCE IN RUSSIA: A NEW DRAFT LAW IS PREPARED BY THE MINISTRY FOR ECONOMIC DEVELOPMENT OF RUSSIA AND LINIYA PRAVA

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