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27 May

The Russian network of Renault dealers faces bankruptcy

27 May

The Russian network of Renault dealers faces bankruptcy

The withdrawal of the French automaker Renault from the Russian market may lead to the bankruptcy of many domestic dealers. Information about this app...

26 May

Bankruptcy, taxes and corporate law: distinguishing useful initiatives from "suffocating" ones

26 May

Bankruptcy, taxes and corporate law: distinguishing useful initiatives from "suffocating" ones

Our legislation is characterized by considerable fluidity – the subjects of legislative initiative do not miss the opportunity to reform what they con...

25 May

Nike announced withdrawal from Russian market

25 May

Nike announced withdrawal from Russian market

The well-known American clothing and footwear brand Nike has made a decision to leave Russia. The company did not prolong the contract with...

24 May

Russian construction companies are coming to autumn bankruptcy

24 May

Russian construction companies are coming to autumn bankruptcy

Sales of apartments in new buildings have catastrophically fallen over the past few months. Among the leading regions in the list of those ...

23 May

Thai AirAsia X files for bankruptcy

23 May

Thai AirAsia X files for bankruptcy

Operating without passenger flights for more than two years, Thai AirAsia X (TAAX) has filed for bankruptcy protection. The case wa...

20 May

A foreign company declared bankrupt in Russia for the first time

20 May

A foreign company declared bankrupt in Russia for the first time

The arbitration court of the Chelyabinsk region declared bankruptcy of the debt recovery company ‘Pandora consulting’ LC, registered in the state of S...

19 May

Russian subsidiary of Google made a decision to file for bankruptcy

19 May

Russian subsidiary of Google made a decision to file for bankruptcy

Google LLC posted a notice of the impending bankruptcy on the "Fedresurs" website. Since March 22, 2022, the company representing...

18 May

Record growth of bankruptcies recorded in Russia in spring 2022

18 May

Record growth of bankruptcies recorded in Russia in spring 2022

Over 60,000 insolvency applications were filed in Russia in the first two spring months of 2022. This number significantly exceeds the figu...

17 May

McDonald's restaurants will open in Russia under a new brand

17 May

McDonald's restaurants will open in Russia under a new brand

McDonald's finally leaves the Russian market. American fast food, which temporarily closed the doors of its outlets in the Russian Fede...

16 May

St. Petersburg manicure chain «Kistochki» caught up with default

16 May

St. Petersburg manicure chain «Kistochki» caught up with default

A chain of manicure salons in St. Petersburg found itself in a difficult financial situation. The business turned out to be unable to redee...

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yesterday

The Supreme Court of the Russian Federation excluded a three-hundred-meter apartment from the debtor's bankruptcy estate

The Economic Board considered the case on the complaint of the manager, who tried to challenge the decisions of lower courts on the exclusion of an ex...

24 May

How to deal with inaction of the bailiff in bankruptcy

The bankruptcy trustee of a debtor citizen initiated an administrative case, in the framework of which he asked to recognize the bailiff's inactio...

25 May

How the creditor’s inactivity affected the fate of debt in bankruptcy

Supreme Court of Russia considered a case in the framework of which one of the creditors made a request to include the claim based on a suretyship agr...

23 May

What peculiarities of bankruptcy of individuals you need to know

There is a number of features in individual insolvency cases that distinguish them from those in which a company is a key player. The Arbit...

NEW CLAIMS

yesterday

Sunlight's fine for advertising fraud with closure upheld

A jewelry chain of stores operating under the Sunlight brand will still have to pay a 200 thousand fine established by the Chelyabinsk Federal Antimon...

26 May

The Arbitration Court overturned the decision of the Central Bank to revoke the license from the bank

The Ninth Arbitration Court of Appeal considered the complaint of the credit institution and one of its creditors. The applicants challenged the order...

23 May

Legal claim over ‘too tasty’ cheeseburger filed in Israel

An Israeli man filled a claim against a fast food restaurant for selling a non-kosher cheeseburger to him. According to the plaintiff, the ...

20 May

Saratov accumulator battery manufacturer is being driven to bankruptcy again

The Saratov Plant of Independent Current Sources (ICS Plant LLC) turned out to be a candidate for bankruptcy again. At the end of M...

People

26 May

Bankruptcy, taxes and corporate law: distinguishing useful initiatives from "suffocating" ones

Our legislation is characterized by considerable fluidity – the subjects of legislative initiative do not miss the opportunity to reform what they con...

Bankruptcy in foreign countries: is it possible to write off debts and keep property in Russia?

Do Russian citizens have the opportunity to avoid bankruptcy in Russia by obtaining bankruptcy status abroad? Experts of the "ELKO pro...

28 April

WHAT WILL THE BANKRUPTCY MORATORIUM LEAD TO?

What the legal community had been waiting for the whole last month has finally happened - the "Government Decree on the introduction of a morator...

12 April 2022

PROJECTS & Draft laws

Russian State Duma proposed to allow spending maternity capital on the purchase of a car

Parliamentarian Yana Lantratova took the initiative to provide the opportunity to use maternity capital to buy a car. The official explaine...

25 May

Stressful work may give Russians the right to a day off

An MP from LDPR party proposed to consolidate the right of Russians to an additional day off if their activities are associated with permanent stress ...

23 May

Ministry of Economic Development is working on a law prohibiting the withdrawal of assets through bankruptcy

The Ministry of Economic Development has initiated new amendments to the Insolvency Law. This time we are talking about suppressing attempt...

24 May

Business proposed to introduce the right to refinance preferential mortgages

It is planned to consider the possibility of refinancing preferential mortgages in Russia. The corresponding proposal has already been sent...

17 May

Lawyer jokes

Dirt, expired products and cockroaches: what has been found during the checks in 'Dodo' pizzerias?

12 November 2021

DODO PIZZA: A FINANCIAL BUBBLE WITH MONEY LAUNDERING

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yesterday

Clearview was fined $9.5 million for collecting personal data.

The American firm Clearview AI, specializing in the recognition of human images, was fined in the UK. The British regulator (Information Commissioner's Office, ICO), whose activities are dedicated to ensuring the openness of government authorities and protecting confidential information of citizens of the country, issued a fine to the company in the amount of £7.5 million (more than 0.55 billion rubles).

yesterday

OZON may default due to bond payments

The largest Russian marketplace OZON warned about the risk of default due to the need for bond payments. This may happen as early as mid-June if the company is unable to pay all bondholders the necessary amounts.

25 May

Nike announced withdrawal from Russian market

The well-known American clothing and footwear brand Nike has made a decision to leave Russia. The company did not prolong the contract with its largest franchisee, Inventive Retail Group. This information was confirmed by the head of the IRG.

25 May

Russian authorities figured out how to pay for foreign films and music

With the start of a special military operation and the imposition of sanctions against the Russian financial system by ‘unfriendly’ states (in particular, in connection with the withdrawal of Visa and Mastercard from the country), many organizations and individuals have lost the opportunity to pay to the foreign copyright holders. First of all, we are talking about previously concluded license agreements.

24 May

Instead of plane and sea: what kind of vacations Russians will have this season

The Association of Tour Operators of Russia (ATOR) revealed a number of distinctive features of the summer holidays of Russians in the coming season. This applies both to the terms of tours’ planning and their possible remoteness from home.

20 May

Belarusian trout producer runs out of fish

The ‘Santa Bremor’ company from Belarus, which produces fish products under the ‘Russian Sea’ brand, has temporarily stopped supplying red fish products to shops and supermarkets. In particular, trout and salmon have ceased to appear on the company's Internet websites. Some sources suggest that the organization lacks a raw material base, others associate it with rising product prices.

20 May

Low-rise residential districts are to be built in Russia

It is planned to give rise to the development of the standard low-rise construction project in Russia. This is partly due to a slowdown in the development of multi-storey buildings, which is explained by the increase in the key rate and the rise in the cost of building materials.

19 May

"Cinema Park" chain began to close cinemas in Moscow shopping centers

Cinemas of the Cinema Park/Formula Kino chain have been recently closed in several shopping centers in Moscow. It happened due to the current economic situation and falling revenue. The partners are negotiating the possibility of withdrawing from the contracts, but litigation is not ruled out.

18 May

DPR, LPR and Georgia can again be reached by car

Anti-COVID restrictions, introduced two years earlier, are being lifted. The next round of this process is the lifting of the ban on crossing the land border with the DPR, LPR and Georgia. Now the Russians again have the opportunity to cross the border points by car.

17 May

Finnish coffee company Paulig suspected of sham deal

On May 5, the Finnish company Paulig, which produced roasted coffee at a plant in the Tver region, announced its withdrawal from the Russian market and the conclusion of a deal with a private individual who wished to buy the enterprise. However, the deal provoked protests from the public.

17 May

McDonald's restaurants will open in Russia under a new brand

McDonald's finally leaves the Russian market. American fast food, which temporarily closed the doors of its outlets in the Russian Federation, continues to incur losses and is looking for an investor who is ready to buy it. Experts estimate the amount of possible damage to the corporation in connection with the withdrawal from the country at $ 1.2 - 1.4 billion.

16 May

American politician scared of possible bankruptcy of US due to aid to Ukraine

Republican Rand Paul, a senator from Kentucky, 12 blocked an attempt to provide Ukraine with a $40 billion “fast-track” financial aid on May. Earlier, the idea of providing assistance was approved by the House of Representatives. The politician said that he expresses sympathy for the people of Ukraine and wants the country to succeed. But this should not happen at the cost of a default of US, the constitution of which the senator was sworn in.

13 May

Wildberries and Ozon ready to work with parallel imports

The largest Russian online retailers Ozon and Wildberries announced their readiness to work with parallel imports. An important condition for the sale of such goods at both sites is that the seller has all the necessary documentation, representatives of the marketplaces emphasized.

13 May

Menstruation can become the ground for a sick leave in Spain

The Spanish authorities are considering giving the right to sick leave to women who experience painful menstruation. At the moment, the relevant bill is being developed.

13 May

Cryptocurrency abyss: Digital Investors Lose Billions of Dollars

The cryptocurrency market is going through hard times. Yesterday it became known that the price of bitcoin dropped below the $27,000 mark, actually returning to the state of the end of 2020. Other crypto assets show similar trends. At the same time, the largest stock exchanges of the world also bear risks.

12 May

Russians are deprived of the opportunity to go on a cruise

According to ATOR, the largest companies that provide the opportunity to purchase cruise tours have stopped selling their products to Russians. The banned list also includes citizens of the Republic of Belarus, the DPR and the LPR. The measure is related to the conflict between Russia and Ukraine, as well as possible financial risks for cruise companies and sanctions imposed by other states.

11 May

Germany faces a wave of bankruptcies due to the refusal of Russian gas

The refusal of Russian gas could lead to a sharp increase in the number of bankruptcies in Germany. This will mostly affect small and medium-sized enterprises that do not have long-term contracts for the supply of natural gas.

11 May

The judiciary of Spanish Malaga is in a state of "technical default"

Justice of one of the largest cities in Spain is in a dramatic situation. The number of cases has grown exponentially in recent years. At the same time, the number of judges remained the same, which significantly increased the professional load on each of them. This was announced on May 9 by Dean Jose María Páez, representing the interests of the judicial community of Malaga, during his report on the work of the courts in 2021.

6 May

The number of offers for the sale of shopping centers has grown in Russia

Last month, there has been a sharp increase in the number of proposals for the sale of shopping centers. Compared to the same period of the previous year, we can talk about 2-3 times growth. At the moment, there are about a hundred objects in both capitals and other large million-plus cities.

6 May

Bankruptcy moratorium turned out to be unnecessary for Ural industrialists

A month has passed since a government act established a large-scale ban on initiating bankruptcy of both individuals and legal entities. However, the industrial enterprises of the Urals continue to massively refuse to apply to the moratorium on insolvency.

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