Search

Bankruptcy moratorium will not affect everyone: the Ministry of Economics proposed new exceptions

The Deposit Insurance Agency (DIA) has taken the initiative to remove a number of persons from the bankruptcy moratorium list. They include owners and top managers of companies, the actions of which have caused damage to financial institutions. The DIA believes that persons responsible for the insolvency of companies are obliged to repay the claims of the latter, including through their own bankruptcy - there should be no grounds for exempting them from this due to the introduction of a moratorium...

Russia introduces bankruptcy moratorium

A ban on initiating bankruptcy cases by creditors will again start in Russia on April 1, 2022 and will last at least for six months. The measure may be applied to both organizations and individual entrepreneurs, including issues of insolvency of individuals. The head of the Cabinet of Ministers Mikhail Mishustin announced the introduced norm the day before. According to the official, the measure will allow debtors to recover from difficulties and find other sources of income without resorting...

Six-month bankruptcy moratorium will be introduced in Russia

Russian government is developing plans on how to support the country's economy in the current geopolitical circumstances. One of the measures in connection with the imposed sanctions may be a temporary ban on creditors to initiate bankruptcy cases. According to Izvestia, the moratorium may last up to six months. In the non-final version of the plan, developed by the executive branch and received by media outlet, we are talking about both legal entities and individuals. An exception to this list...

WHAT CHANGES WILL TAKE PLACE WITH THE INTRODUCTION OF A NEW BANKRUPTCY LAW?

... crisis and a loan provided to the company shortly after the start of its activities. However, later in the period of the pandemic, the position of the Supreme Court regarding subordination changed towards softening for the period of the ‘anti-covid’ moratorium on bankruptcy. It seems that the consolidation of the institution of subordination at the level of the rule of law will clarify this issue and eliminate gaps and contradictions in the interpretation of approaches developed by judicial practice....

ST.PETERSBURG IS RANKED THIRD IN THE RATING OF CORPORATE BANKRUPTCIES

The first quarter of this year brought 177 organizations of St. Petersburg the status of official bankruptcy. Due to this, the city took third place in the list of regions with the largest number of bankrupt legal entities and farms. If we rely on the data of Fedresurs website, then St. Petersburg in the tacit competition was bypassed only Moscow and the Moscow region with 467 and 186 organizations, respectively. All of them were declared insolvent. Along with the negative impact of the pandemic...

LIFTING OF MORATORIUM: IS THE WAVE OF BANKRUPTCIES COMING?

The head of the a.t.Legal legal company, a member of the LawBridge international association of legal companies ( www.LawBridge.law ), Mikhail Chernyshev, has prepared a material about what will happen in the country after the moratorium on bankruptcy is lifted. Is the negative scenario realistic and what to do in case it is? The state made a decision not to extend the moratorium on bankruptcy any longer. Decree of the Government of the Russian Federation of October 1, 2020 ...

THE RESULTS OF 2020: WHAT CHANGES OCCURRED IN BANCRUPTCY LEGISLATION IN THE OUTGOING YEAR

... many other areas of law, does not stand still and is constantly changing. The outgoing year was no exception and we want to remind our readers about the most important changes that occurred in the area of bankruptcy in 2020. The introduction of a moratorium on bankruptcy due to the pandemic In April of the outgoing year, the Government of the Russian Federation made a decision to introduce a moratorium on bankruptcy for large, strategic and backbone enterprises. The rule of law was adopted in ...

Sorted by relevance | Sort by date