A CONTRADICTION BETWEEN LAW AND A MORATORIUM ON BANKRUPTCY WAS RESOLVED

The moratorium on bankruptcy, introduced by the Government for a number of Russian companies is valid from April 3 to October 3 of this year, but the possibility of its extension is separately indicated.

The reason for the introduction of the measure was the problems, faced by the organizations and individual entrepreneurs because of the pandemic.

The list includes the companies from the sectors of the economy recognized as the most affected, as well as backbone enterprises and strategic facilities. In total, about 485.5 thousand legal entities and more than 1.5 million individual entrepreneurs are subject to this measure according to the estimates.

The inclusion of a company or individual entrepreneur in the list means that it is impossible to file an insolvency petition against them - the court is obliged to return such a petition by law. Thus, the state provides a kind of temporary immunity to for the suffering entrepreneurs.

However, some contradiction has been revealed in the introduced measures. The fact is that the bankruptcy law provides for the formation of a list of the most affected sectors by an act of the Government of the Russian Federation, but not by a government commission, as it was done.

In this regard, the contradiction was eliminated by the Government and evidenced by the published Governmental Decision No. 729, which amends the Government Resolution No. 428 that have been previously issued and introduced a moratorium.