Vassiliy Zenov

Practice Areas

Vassiliy Zenov is a partner and head of the Banking & Finance practice in Dentons’ Kazakhstan office. He focuses on banking and finance, capital markets, financial regulations and derivatives.

Vassiliy has 15 years of legal experience and is highly recognized in the local market for his unique experience in drafting statutory amendments.

By way example, Vassiliy is an author of the legislative amendments on “close-out netting” in Kazakhstan, which were adopted in 2022. He also led the Dentons’ team in the several matters which aimed to set up an effective legal framework for resolution and sale of non-performing loans.

Vassiliy drafted and negotiated the amendments to the Kazakh Law on Use of Airspace, which envisages complex legal restrictions on foreign parties that own or may otherwise control Kazakh airlines.

Recently, as per request of the Kazakhstan financial regulator, he prepared a draft law, which adopted once will simplify the entry and licensing requirements for foreign banks, which plan to set up their branches or subsidiaries in Kazakhstan.

Career

• Partner, Dentons, Almaty, Kazakhstan (2020-present)

• Counsel, Dentons, Almaty, Kazakhstan (2017-2020)

• Senior Associate, Dentons (formerly Salans LLP), Almaty, Kazakhstan (2014-2017)

• Associate, Salans LLP, Almaty, Kazakhstan (2011-2014)

• Legal Counsel, Director, Royal Bank of Scotland, Almaty, Kazakhstan (2009-2011)

• Country Legal Counsel, Huawei Almaty, Kazakhstan (2009)

Professional Memberships

• Kazakhstan Bar Association

• AIFC Roll of Registered Legal Advisers

Publications

Vassiliy has been a frequent writer to issue Insights on Kazakhstan law.

Experience

• ICMA: Dentons worked on an industry legal opinion for the benefit of ICMA and its members on the enforceability of the Global Master Repurchase Agreement 2000 and 2011 versions (the GMRA) in Kazakhstan. The necessity of such industry legal opinion arises from the legislative changes in Kazakhstan that, inter alia, cover close out netting arrangements.

• Air Astana: Developing the statutory restrictions applicable to foreign parties that own or otherwise control Kazakh airlines, based on bilateral flight rights treaties entered into by Kazakhstan and relevant ICAO guidelines and principles. Drafting and negotiating of Article 74-1 of the Kazakh Law on Use of Airspace and relevant subordinate legislation.

• Air Astana: Advised the largest airline group in Central Asia and the Caucasus region based on market share, on its Rule 144A/Regulation S initial public offering and triple listing on the main market of the London Stock Exchange (LSE), the Astana International Exchange (AIX) and the Kazakhstan Stock Exchange (KASE).

Expert in these Jurisdictions

Kazakhstan

Languages Spoken

Russian, English

Education