We know everything about bankruptcy
18/04/2024
Thursday
18 April 
1970 The Great Britain recognized the independence of Zimbabwe
1970 The Great Britain recognized the independence of Zimbabwe
1970 The regular bus service began operating in Moscow
1970 The regular bus service began operating in Moscow
1970 The English Parliament refused to ban slavery in the African colonies
1970 The English Parliament refused to ban slavery in the African colonies
THE NUMBER OF BANKRUPTS HAS DOUBLED IN RUSSIA
As reported by RIA Novosti, the experts compared these data with the indicators of the previous years. Last year, the number of bankrupts in the first half of the year amounted to 58.7 thousand people, and a year earlier - only to 39 thousand.
Thus, the growth in the number of insolvent citizens turned out to be almost twofold.
It is believed that there are several reasons why citizens are more willing to declare their own insolvency. On the one hand, financial problems of a global scale and processes associated with the pandemic led to a decrease in the solvency of Russians, which affected the statistics of bankruptcies. On the other hand, from a frightening instrument regulating financial conflicts, bankruptcy is gradually beginning to be perceived as a civilized form of solving insolvency problems by the public consciousness.
According to the forecast of GRM company, the quantitative growth of bankruptcy proceedings in Russia will continue in the future. By the end of the year, their number may grow up to 70%. Moreover, it is likely that by January 2022, a slight decrease in the number of citizens recognized as insolvent will be recorded.
As noted by the GRM representatives, the number of bankruptcy proceedings against organizations has also doubled.
However, the bankruptcy of companies could have been affected by a moratorium set by the state last year in connection with the pandemic. If we compare the current figure (25.7 thousand) with the results of 2019 (17.7 thousand), we will see that the growth will not be so significant, which means that the dynamics of insolvency of legal entities is not so ‘explosive’.
Experts predict that the number of citizens declared insolvent may decline only when the pandemic ends. Moreover, this will not happen immediately, since it will be possible to observe a delayed effect for six months or even more. Currently, there are no grounds for this, so the situation should be expected to deteriorate.
Considering that the key rate of the Bank of Russia is likely to rise, one can expect a further growth in the cost of loans. In such a situation, it will be difficult to get rid of the debt yoke without losses, therefore bankruptcy will be the only legal way to write off the debt obligations.
