Legal Business

Akin rainmakers quit to launch Russia independent in further apocalyptic sign for Western firms

Akin rainmakers quit to launch Russia independent in further apocalyptic sign for Western firms

Lawyers have been speaking for months of a tough environment for international firms in sanction-battered Russia, but no event has been as emblematic as the news in September that two of Akin Gump Strauss Hauer & Feld’s top Moscow partners have quit to launch an independent firm.

Heavyweight litigator Ilya Rybalkin and corporate veteran Suren Gortsunyan launched Rybalkin, Gortsunyan & Partners (RGP), bringing across 11 other fee-earners from their former shop – now left with just 18 lawyers in Moscow.
While the US sanction regime bars US firms from supporting Kremlin-linked oligarchs, speaking to Legal Business Gortsunyan said Russian companies were becoming increasingly less comfortable with instructing Western advisers.