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Clifford Chance

Clifford Chance

Briefings

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.

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