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Michael’s extensive experience in capital markets includes advising issuers on 100+ bond issuances, 40+ debt restructurings, 40+ public share offerings and 100+ private placements in the domestic and international markets.
Helped to develop the recent structured bonds law and designed the first structured bond issuances in the Russian market. Has deep knowledge of ranking methodologies and is experienced in designing credit enhancement mechanics for bond issuances.
He also advises on Russian law matters relating to securitisations of various asset classes including mortgage loans as wells as financial assets. In addition to that, Michael has exceptional experience in placement of securities of foreign issuers in Russia.
Michael regularly advises Russian and foreign PE funds on various aspects of their activity, including LBO and venture capital projects in Russia and abroad. Michael has a strong background in acquisitions of assets in Russia by Russian and foreign clients (including via optional/mandatory tender offers), large-scale corporate reorganisations, mergers and joint ventures.
He is included in the Russian Arbitration Center database of specialists in the field of financial disputes.
Market recognition and rankings
- A Top 10 capital markets lawyer according to 2021 legal ranking by Kommersant, the leading Russian business daily.
- Tier 1 capital markets lawyer according to Pravo-300 2020, the leading Russian legal ranking.
- Notable Practitioner in Capital Markets: Debt according to the international legal directory IFLR1000 2019 – 2021.
- Band 4 in Capital Markets according to the international legal directory Chambers Europe 2019 – 2021.
- Recognised in Banking and Finance and in M&A by the international legal directory Best Lawyers 2020.
- A Top 10 expert in commercial law according to 2018 legal ranking by Kommersant.
Michael is an active member of various think tanks:
- Expert Committee for Securitisation of Financial Assets of the Russian Central Bank;
- Expert Committee for Long-Term Investments of the Russian Central Bank;
- was a member of the Working Group of Russian State Duma on Simplification of the Procedure for Issuance of Securities (the law was adopted in December 2018);
- Council on Activities of Investment Advisors of SRO NFA;
- Committee on Legislation and Regulation in the Financial Market of SRO NFA;
- Joint Securitisation Committee of SRO NFA and Association “Russia”;
- Primary Market Committee of the Moscow Exchange;
- subgroups of the MFC Working Group on legal regulation of corporate relations;
- Expert Council of the National PPP Center.
- In 2020 became one of the experts selected to lecture in the joint educational programme by SKOLKOVO Business School and the Moscow Exchange – Raising Capital Academy for mid-size potential issuers.
- In 2020 held a course on corporate finance at the Bank of Russia Corporate University.
- Has been teaching a course “Corporate Finance for Lawyers” in the framework of Master's Programme 'Corporate Law’ at HSE University since 2018 for four years already.
- In 2010 – 2014 has been teaching a course “Securities Market” at The Academy of National Economy (Faculty of Finance and Banking).
Client testimonials* The above testimonials have been provided to the legal directories anonymously.
"I enjoy working with him, especially on Russian law projects and Russian capital markets deals," a client reports.
"He is very proactive and has a creative approach to solving issues," a client says.
Michael Malinovskiy is “able to make practical decisions quickly.”
Sources say: “Michael is a problem solver; his bright mind is able to find the most unexpected solutions to what seems to be a deadlock. His approach is always pragmatic.”
Michael Malinovskiy is “an extremely smart lawyer with a clear and pragmatic view.”
- Graduated from Kutafin Moscow State Law University; during his education completed several additional educational programs, including “Electoral Law and Process” (CEC of the Russian Federation) (2008, with honours) and continued studies at the Russian School for Private Law (master's program at The Private Law Research Centre under the President of the Russian Federation) (2009).
- Conducted postgraduate studies at the Institute of Legislation and Comparative Law under the Government of the Russian Federation (2011).
- Completed Raising Capital course in Cambridge Judge Business School (Raising capital. Cambridge General Management Certificate) (2014).
- Graduated from the educational programme for human rights protection (national and international system) of the Ametistov Foundation for Human Rights Protection, the training was accompanied by human rights activities, including the preparation of materials for submission to the European Court of Human Rights.
publications and speeches
7 June 2021
8 June 2021
14 April 2021
Investor controls: bondholders' representative, OSVO
Investor Controls: Disclosure
Investor Control Mechanisms: Covenants
Securitisation in Russia — 2021
This country-specific Q&A provides an overview of securitisation laws and regulations applicable in Russia.
SPAC: to be or not to be?
In 2020, private fast-growing companies had serious funding needs, and the market "remembered" about the simplified mechanism for turning a private company into a public one through the placement of shares in SPAC (special purpose acquisition company), followed by a merger with the target operating company.