RusBankrot
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08/05/2024
Wednesday
THIS DAY IN HISTORY:
8 May 
1945 The act on the unconditional surrender of Germany in World War II was signed in a suburb of Berlin.
1945 The act on the unconditional surrender of Germany in World War II was signed in a suburb of Berlin.
1886 The first Coca-cola drink was produced by Dr. John Pemberton.
1886 The first Coca-cola drink was produced by Dr. John Pemberton.
1713 The capital of Russia was moved from Moscow to St. Petersburg.
1713 The capital of Russia was moved from Moscow to St. Petersburg.
8 May
1945 The act on the unconditional surrender of Germany in World War II was signed in a suburb of Berlin.
1945 The act on the unconditional surrender of Germany in World War II was signed in a suburb of Berlin.
1886 The first Coca-cola drink was produced by Dr. John Pemberton.
1886 The first Coca-cola drink was produced by Dr. John Pemberton.
1713 The capital of Russia was moved from Moscow to St. Petersburg.
1713 The capital of Russia was moved from Moscow to St. Petersburg.
THE STATE DUMA PROPOSED TO ALLOW LIQUIDATION NETTING IN BANKRUPTCY OF QUALIFIED INVESTORS
The draft, submitted to the State Duma the day before, permits the use of offsetting obligations between professionals in the securities market and insolvent qualified individual investors.
The initiative was posted in the electronic database of the Parliament under No. 543525-8. It implies amendments to the Law "On the Securities Market" and the Law on Bankruptcy.
Currently, as a general rule, it is prohibited to set off claims in bankruptcy cases, with the exception of a number of cases. Thus, liquidation netting, which allows you to pay for urgent transactions and repo transactions, is acceptable in bankruptcy cases of financial organizations between companies.
The amendments will allow the use of netting, including to terminate obligations between a qualified individual investor. The initiative allows for the application of liquidation netting of obligations if an individual is a beneficiary under an agreement between two professional participants in the securities market.
The authors of the bill talk about the need for amendments to the legislation, since currently securities market professionals conclude derivative transactions with qualified individual investors, but when working with citizens, organizations are exposed to increased risks if a citizen goes bankrupt. This significantly increases the cost of such transactions, tightens their commercial conditions and restricts citizens in comparison with legal entities.
The initiative was posted in the electronic database of the Parliament under No. 543525-8. It implies amendments to the Law "On the Securities Market" and the Law on Bankruptcy.
Currently, as a general rule, it is prohibited to set off claims in bankruptcy cases, with the exception of a number of cases. Thus, liquidation netting, which allows you to pay for urgent transactions and repo transactions, is acceptable in bankruptcy cases of financial organizations between companies.
The amendments will allow the use of netting, including to terminate obligations between a qualified individual investor. The initiative allows for the application of liquidation netting of obligations if an individual is a beneficiary under an agreement between two professional participants in the securities market.
The authors of the bill talk about the need for amendments to the legislation, since currently securities market professionals conclude derivative transactions with qualified individual investors, but when working with citizens, organizations are exposed to increased risks if a citizen goes bankrupt. This significantly increases the cost of such transactions, tightens their commercial conditions and restricts citizens in comparison with legal entities.
06.02.2024
