Abstract
The economic situation in the world and the challenges of our time forced many Russian issuers to refuse future depository programmes and curtail the existing ones, which were issued by the relevant acts of the Bank of Russia, with the exception of certain issuers listed by the Government of the Russian Federation. The peculiarities of the circulation of the financial instruments under consideration and the procedure for exercising rights certified by these depositary receipts affect the approaches of judicial practice being formed. This article examines the competence of the court in disputes arising from the exercise of rights certified by depositary receipts; related to automatic or forced conversion of depositary receipts into shares of Russian issuers; on recovery of damages, etc. Ways are proposed to form judicial practice in terms of determining the competence of the court and applying the relevant rules of procedural law. The current public legal regime and public interests of the state are analysed, as well as the competence of the state arbitrazh court in disputes involving persons in respect of whom restrictive measures have been introduced. Possible approaches to judicial practice are formulated that meet the challenges of modernity in the stock market in order to protect the rights of investors, as well as the tasks of effective legal proceedings.
Published Version
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