RusBankrot
We know everything about bankruptcy
05/12/2025
Friday
THIS DAY IN HISTORY:
5 December 
1936 The Stalinist Constitution of the USSR was adopted.
1936 the Stalinist constitution of the USSR was adopted.
1484 Pope Innocent VII initiated the "witch hunt".
1456 An earthquake that destroyed Naples occurred - 35 thousand people died.
1456 occurred an earthquake that destroyed Naples - 35 thousand people died.
5 December
1936 The Stalinist Constitution of the USSR was adopted.
1936 the Stalinist constitution of the USSR was adopted.
1484 Pope Innocent VII initiated the "witch hunt".
1456 An earthquake that destroyed Naples occurred - 35 thousand people died.
1456 occurred an earthquake that destroyed Naples - 35 thousand people died.
THEY WANT TO SPEED UP THE BANKRUPTCY PROCESS OF COMPANIES
The authorities intend to shorten the terms of bankruptcy of legal entities. The time for the sale of assets will be reduced almost twice — to 300 days, and for bankruptcy proceedings - from 47 to 40 months, Izvestia writes with reference to the press service of the Agency for Strategic Initiatives (ASI).
Currently, the bankruptcy procedure for legal entities in Russia takes more than four years, whereas in world practice this process takes 1-1.5 years. According to the new National Model of targeted Business Conditions, the deadlines are planned to be significantly reduced by 2030. In particular, the sale of assets will have to take only 300 days. Bankruptcy proceedings, including inventory, property valuation and bidding, will be reduced from 47 to 40 months.
The changes are included in the National Model of Targeted Business Conditions, which is scheduled to be presented in September 2025. The idea of speeding up the procedure has been discussed since 2020, but the previous bill was never adopted due to criticism from business.
The bankruptcy procedure begins with supervision, which lasts up to seven months. At this stage, the financial condition of the company is analyzed and creditors are identified. Financial recovery may follow — this stage takes up to two years, but is applied only if there is a chance to save the business. If it is not possible to restore solvency, the company switches to external management, where management is removed and management is transferred to an appointed arbitration administrator. The final stage is bankruptcy proceedings, during which assets are sold off, and the proceeds are used to pay off debts.
It should be noted that, as follows from the data of Fedresurs, in 2025 the number of new bankruptcy cases decreased. In the first half of the year, the number of open bankruptcy proceedings decreased by 27% compared to the same period last year.
Photo: Freepik
Currently, the bankruptcy procedure for legal entities in Russia takes more than four years, whereas in world practice this process takes 1-1.5 years. According to the new National Model of targeted Business Conditions, the deadlines are planned to be significantly reduced by 2030. In particular, the sale of assets will have to take only 300 days. Bankruptcy proceedings, including inventory, property valuation and bidding, will be reduced from 47 to 40 months.
The changes are included in the National Model of Targeted Business Conditions, which is scheduled to be presented in September 2025. The idea of speeding up the procedure has been discussed since 2020, but the previous bill was never adopted due to criticism from business.
The bankruptcy procedure begins with supervision, which lasts up to seven months. At this stage, the financial condition of the company is analyzed and creditors are identified. Financial recovery may follow — this stage takes up to two years, but is applied only if there is a chance to save the business. If it is not possible to restore solvency, the company switches to external management, where management is removed and management is transferred to an appointed arbitration administrator. The final stage is bankruptcy proceedings, during which assets are sold off, and the proceeds are used to pay off debts.
It should be noted that, as follows from the data of Fedresurs, in 2025 the number of new bankruptcy cases decreased. In the first half of the year, the number of open bankruptcy proceedings decreased by 27% compared to the same period last year.
Photo: Freepik
29.07.2025
