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

At the moment, the bill has already been developed and sent for approval of the government. According to Mikhail Beshtoev, the Head of the Corporate Regulation Department of the Ministry of Economic Development, the document is aimed at improving the architecture of the insolvency institution itself.

With its help, and in the presence of specific signs, it will be easier to identify false bankruptcies and counter them.

The normative act, among other things, provides for the possibility of conducting appropriate audits of companies that are in bankruptcy. First of all, this may affect large and strategic enterprises. Tax authorities were proposed to carry out verification activities, Senate Inform reports.

The problem with false bankruptcies has been overdue for a long time: unfortunately, it is not uncommon for debtors to use this procedure as a way to avoid debts and withdraw property. In a number of situations, such actions can be stopped by the court, and sometimes by the persistence of creditors or other interested parties who challenge certain actions. One way or another, an additional tool for monitoring the integrity of participants in a bankruptcy process can be beneficial.