STRATEGIC ENTERPRISES MIGHT GET A RIGHT FOR THE BANKRUPTCY MORATORIUM

It is planned to terminate the bankruptcies of the industry companies that most suffered from the pandemic for six months.

Among such companies, there are tour operators, air carriers, airports, road carriers, public catering (from restaurants to canteens), cultural facilities (museums, theaters, cinemas), the companies, working in the field of physical education and sports, organizations of additional education, as well as specializing in conferences and exhibitions, and the companies, providing household services (hairdressing, dry cleaning, shoe and clothing repair).

However, the Ministry of Economic Development proposes to include so-called strategic enterprises in this list. Strategic enterprises are a kind of a large business, without which it will be difficult to survive for the country and a large number of individual citizens both.

The list of such companies currently includes 646 organizations, the financial and economic status of which Mikhail Mishustin instructed to closely monitor.

At the request of “Rusbankrot”, this hot topic was commented on by the representatives of Liquidation and Bankruptcy Bar Association.

“The list of system-forming organizations was approved by the Government Commission on the Economic Development and Integration on February 5, 2015. This list includes 199 companies, whose profits account for more than 70% of total national income, and the number of employees makes up more than 20% of the total number of people, employed in the economy. On March 23, 2020, the Government increased the list of strategic enterprises in Russia to 600 companies.

In our opinion, these companies are partially economically and politically protected by the state. On March 30, the Prime Minister issued a decree on checking the financial and economic condition of the companies from this list.

The draft law No. 931192-7, adopted on March 31, 2020 in the third reading, clearly states that the moratorium will concern only those debtors, whose field of activity is on the list, approved by the Government.

The question is: who will initiate the bankruptcy of such strategic enterprises? From whom does the state want to additionally protect them? From the government? Or from the workers, who are massively released now without getting their salaries? Or from the authorized bodies?

It would be fair, nevertheless, to extend the moratorium specifically to the affected sectors. Systemically important enterprises and strategic enterprises will be supported and protected anyway.