Devaluation of Russian Currency as a Ground for Rent review?
12 April 2016
On 29 March 2016 the Ninth Arbitrazh Appellate Court (case No. A40-83845/2015) reversed the earlier decision of the Moscow City Arbitrazh Court which took the unprecedented step of introducing a currency band of RUB 30-42 per USD 1 for rent amounts under an office lease agreement. The band was introduced in the middle of a ten-year lease entered into between two commercial parties.