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THE STATE DUMA ASKS TO FINALIZE AMENDMENTS TO ACCELERATE THE SALE OF ASSETS OF BANKRUPT BANKS
THE STATE DUMA ASKS TO FINALIZE AMENDMENTS TO ACCELERATE THE SALE OF ASSETS OF BANKRUPT BANKS
The State Duma Committee on Property Issues has prepared a positive opinion on amendments on the possibility of applying compensation in bankruptcy of financial organizations to repay claims of the first stage. However, the bill needs to be finalized, the ministry noted.
In conclusion, it is said that the bill will speed up the completion of bank bankruptcy through financial recovery by, for example, reorganizing or changing the controlling owner, etc.
At the beginning of the year, a bill on improving the procedure for repayment of creditors' claims in bank bankruptcy cases by providing compensation was submitted by a group of deputies to the State Duma. As noted in the Committee on Property Issues, the bill will help to accelerate the completion of the sale of assets of bankrupt credit institutions and satisfy creditors' claims as much as possible.
The Committee asked to specify in the bill the proposed procedure for granting compensation. As noted in the State Duma, the amendments do not contain conditions under which the court may not take into account the will of creditors. There are also no requirements for the content of the conclusion of the Deposit Insurance Agency (DIA), which is necessary for the court to make a decision. In addition, the committee proposed to clarify the minimum price for repurchasing claims from creditors.
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