Rating Publishing House “Kommersant”


On March 17, 2021 Kommersant Publishing House published the results of the ranking of the best law firms in 2020. Lurye, Chumakov & Partners was included in the list of the best Russian legal and industry practices of the federal rating:




  • TMT (telecommunications, media, technology): advising the leaders of the TMT industry (Band 2);
  • Digital Economy / FinTech (Band 1);
  • Vladislav Lurie, Co-managing Partner of Lurye, Chumakov & Partners, is recommended in the individual ranking of lawyers in the Digital Economy / FinTech category.

We are proud of our success and are ready to move towards new horizons!



Best Lawyers ranked Vladislav Lurye and Andrey Chumakov as top lawyers in Russia


The Best Lawyers international legal guide, which annually evaluates the professional activities of lawyers around the world, notes Lurye, Chumakov & Partners in the list of leading legal experts in Russia.

According to the published results of new study of the Best Lawyers-2021 international ranking, Vladislav Lurye is ranked among the best lawyers in Russia in the sphere of Corporate Law, and Andrei Chumakov is – in Tax Law area (both areas are the most competitive).


The Best Lawyers is an international legal guide, which annually evaluates the professional activities of lawyers around the world. This study of Best Lawyers is being held for the 12th time among Russian specialists and has reached significant indicators for the activity of participants or applicants in the rating: only 1,670 Russian lawyers are noted as top experts, which is less than 2.5% of all practitioners.
Best Lawyers is a ranking based on the opinions of colleagues who have already gained credibility with their achievements. The study takes into view factors such as voting results, achievements for previous years, general information about the company and its practice. Best Lawyers is the reputation of lawyers in the professional community, and it is truly valuable to us!
Professional achievements of Lurye, Chumakov & Partners’ specialists are annually marked by leading international and Russian ranking agencies. Lurye, Chumakov & Partners is also among the best law firms in Russia according to the results of the IFLR1000, Pravo.ru – 300 and Kommersant’ rankings.
We are very thankful to experts who participated in the study for their voices, which Andrey and Vladislav confirm with their daily work and complete dedication to the clients’ business! It is always pleasant to receive such a high mark from professionals.
Our team congratulates Andrey and Vladislav and wish them further professional success!

Counsel, Head of Practice Venture Capital and M&A Sergey Lapin joined Lurye, Chumakov & Partners

Sergey Lapin, who has more than 12 years of experience in Corporate Law and M&A, VC-transactions and capital markets, joined the team of Lurye, Chumakov & Partners as Counsel and Head Practice of Venture Capital and M&A.

Sergey’s expertise includes advising leading Russian, foreign and international firms on mergers and acquisitions, joint ventures, financing and corporate restructuring, capital markets and venture transaction.

Prior to joining Lurye, Chumakov & Partners, Sergey worked in boutique law firms (Nadmitov, Ivanov & Partners), leading international law firms (Baker McKenzie and Cleary Gottlieb) and international investment banks (Renaissance Capital).

Sergey joined the team of Lurye, Chumakov & Partners to strengthen rapidly developing Corporate practice and to advise on investment transactions under Russian and English Law, as well as laws of other jurisdictions.

Briefly about the Sergey Lapin’s experience

Experience in M&A and joint ventures:

o Several dozens of M&A transactions and establishment of joint ventures under English, Cyprus and Russian law

o Total transaction volume – more than USD 10 billion

Experience in corporate and financial restructuring:

o Several transactions related to corporate and financial restructuring various businesses, including participation in the restructuring of debts of a large metallurgical company from Russia (back then it was the largest restructuring in the market by volume)

o Total transaction volume – more than USD 15 billion

Experience in the area of capital markets:

o Support for the placement of financial credit instruments (shares, debentures) of various issuers from Russia and the CIS states on exchanges in the USA (NYSE), Great Britain (LSE), Ireland (ISE), Sweden (Stockholm Stock Exchange), Germany (Frankfurt Stock Exchange), Poland (Warsaw Stock Exchange)

o Total volume of planned and completed transactions is more than USD 5 billion

Experience in VC-transactions:

o Representation of several entrepreneurs in raising funds from well-known Russian and international venture funds

o Advising on several cryptocurrency regulatory projects

Sergey has a degree of Master of Laws (M. Juris) from the University of Oxford (Great Britain), a degree of Master of Laws from Duke University (USA), and a Diploma in law from the Nizhny Novgorod State University (Lobachevsky University, UNN).

Fluent in: Russian, English, French



Investment Partnership Agreement under Russian Law


An investment partnership is a legal form of association of investors with the purpose of consolidating financial resources for medium-term and long-term investments in investment assets and sharing risks associated with investment activities. An investment partnership (hereinafter referred to as the “IP”) is not a legal entity, it is an association of two or more investors on the contractual basis (investment partnership agreement, hereinafter also referred to as the “IPA”), which is regulated by a special law – the Federal Law No. 335-ФЗ dated 28.11.2011 “On the Investment Partnership” (hereinafter referred to as the “Law”). An investment partnership is a flexible form of investment organization; this method of pooling capital allows investors to agree on how decisions will be made in regard to each specific investment; what amount of money will be invested both in the investment itself and in managing such investment; in which cases investors will be entitled to leave the partnership; what are the obligations and responsibilities of the managing partner, etc. Such flexibility sets an investment partnership apart from such forms of organizing joint investment activities as creation of a business company or mutual fund. Regarding the last two entities, issues of management, making contributions, responsibility of the “manager” are regulated by the law, and not by an agreement of the parties.

Moreover, it should be noted that the contractual nature of an investment partnership gives this form of investment activities a very important advantage – absence of double taxation. Tax collection occurs only at the level of investors and does not occur at the level of investment partnership itself. At the same time, “project companies” (limited liability companies or joint-stock companies created for the purpose of implementing an investment project) are considered independent taxpayers regarding income tax. Part of the profit remaining after taxation may be distributed among participants (shareholders) of the project company, and participants (shareholders) will have to pay income tax on the amount received as a result of such distribution. As a result, there exist two levels of taxation on profits earned from investing activities.

An investment partnership can be described in a few words as follows:
An investment partnership agreement (which is subject to notarial certification) is concluded between two or more persons. The parties to this agreement have a different status, which entails their different rights and obligations. Limited partners undertake only to make contributions to the common property of partners for the purpose of making investments in all types of assets agreed upon by all parties, and have the right to receive only part of the profit from such investments (as a rule, in proportion to their share in the common property of partners). They are not entitled to participate in managing the business of an investment partnership. Only the managing partner is entitled and obliged to search for assets suitable for investment (that correspond to the investment declaration approved by all partners), organize investment and management activities (there may be several managing partners, and then there should be a clear delineation of their areas of responsibility indicated in the IPA, but, as a rule, an investment partnership, however, has one managing partner).

In addition, the managing partner shall be responsible for administrative and financial management of the IP (accounting, legal and other support for investment activities). The managing partner, like the contributing partners, contributes to the common property of the IP (and has the dual status of a contributing partner and a managing partner at the same time, accordingly), but generally his contribution is insignificant (1-2% of the total volume of IP contributions). Apart from the right to receive a part of the profit from investment activities, which is proportional to his share in the common property of the partners, the managing partner is entitled to remuneration for managing the partners’ joint affairs (the size and frequency of such payment shall be determined by the terms of the IPA) and sometimes, to success fee – in cases when the IP ROI exceeded the expected (target) level of return established by the agreement. Regarding general contractual obligations related to the investment activities of the partnership, each investing partner bear the proportional liability
within the value of his share in the common property of the partners and shall not be liable to the full extent of his assets. If the cost of the partners’ common property is insufficient to satisfy the creditors’ claims on the general contractual obligations related to implementation of joint investment activities of the partners, the managing partner bears subsidiary liability with all his assets. If there exist several managing partners, they will jointly and severally bear subsidiary liability for common contractual obligations related to joint investment activities carried out by the partners in case of insufficient value of the partners’ common property to satisfy the creditors’ claims.
Let us have a more detailed approach on each of the issues that are essential for organization of an investment partnership and conclusion of an investment partnership agreement.

You may click on the link below to download the PDF and read the full article

Norland Legal and NewLawyers announce merger under the new Lurye, Chumakov & Partners brand

Norland Legal, specializing in legal support for establishment of investment funds, venture capital investments and M&A, and NewLawyers, specializing in corporate restructurings, tax consulting and IT projects support, announce merger of legal practices under the general supervision of co-managing partners Vladislav Lurye and Andrey Chumakov.

Norland Legal was established by Vladislav Lurie at the end of 2015 and specializes in establishment of investment funds, legal support for private equity and venture capital investments, M&A transactions, digital and fintech projects. The company’s clients are major institutes for development, public and private investment funds, Russian and foreign high-tech companies (Russian Venture Company, VEB Ventures, Da Vinci Capital, Far Eastern High Technology Fund, Sperasoft, Mintos, etc). Since 2017, Norland Legal has been ranked among the best Russian law firms in the area of Corporate/M&A (according to Pravo.ru-300 and IFLR 1000 rankings).

NewLawyers was founded by Andrey Chumakov at the end of 2016 and has proven to be a reliable legal partner in the sphere of legal and tax support for venture capital investment transactions, M&A and corporate restructurings. The company’s clients are companies from IT, e-commerce, telemedicine (Mobile Medical Technologies, Bystrodengi (Eqvanta), Cindicator, iBrain, Fitmost, Algoritmika, eKassir, eTicket) and many others.

Lurye, Chumakov & Partners joint enterprise is a boutique law firm which represents a team of eight high-end professionals specializing in the sphere of legal and tax support for private equity and venture capital investment transactions, M&A, restructuring projects and establishment of Russian and foreign investment funds.
Vladislav Lurye and Andrey Chumakov shall become the co-managing partners of the firm. *

* Vladislav Lurye – Co-Managing Partner. Prior to establishment of Lurye, Chumakov & Partners, Vladislav managed Norland Legal law firm, which he created after three years of experience in managing the legal department of Russia’s largest mezzanine investment fund. Futhermore, for 10 years before Norland Legal, Vladislav held offices in major Russian banks, such as Rosbank, VTB and MCB, where his specialization was Russian and foreign corporate and banking law. The aggregate total of investment transactions closed by Vladislav as a lawyer over the past few years, exceeds $ 600 mln.

* Andrey Chumakov – Co-Managing Partner. Prior to the establishment of Lurye, Chumakov & Partners, Andrey directed NewLawyers law firm, and before that he was an employee of Ernst & Young (CIS) B.V., where he rose through the ranks from senior consultant to senior manager of tax and legal consulting practice. Andrey possesses extensive knowledge in implementing projects of of diverse complexity in accordance with the laws of Russia, Belarus, Cyprus, the Netherlands, Luxembourg, as well as principal offshore jurisdictions. Among other things, his projects portfolio includes international tax planning and deoffshorization consulting services, M&A transactions and investment projects support and structuring under English law, corporate restructurings, legal and tax due diligence.

We are pleased to join our firms and strengthen our teams and expect this union will help us achieve the top score results together with our clients and partners.


On November 29, 2018, Managing Partner at Norland Legal Vladislav Lurye and Head of Financial and Digital Technologies Practice Rustam Rafikov took part in the work of «New Reality of M&A Transactions – key trends in structuring and executing transactions, the impact of sanctions on the conditions of transaction documents» section of the IX Russian M&A Congress organized by Cbonds. In the course of the section, our specialists, together with representatives of large Russian holdings and investment banks, discussed key trends in the M&A market, the impact of sanctions, and the specifics of preparing documents for a transaction under the Russian law.

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Norland Legal hosts the event on exit in venture capital deals

Yesterday, our firm hold a seminar concerning legal aspects and recent trends of exit in venture capital deals. Norland Legal experts again shared their experience on relevant issues of the topic touched with a professional audience.

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Norland legal has held the first private event for crypto funds

On September 26, 2018, we’ve held our first private meetup for our clients and friends of the firm. The topic of the first meeting was devoted to investing in digital financial assets, which raises many questions, the answers to which are rarely available in large conferences, where dozens of speakers and hundreds of people gather.

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