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THE CENTRAL BANK INTENDS TO TIGHTEN ITS APPROACH TO CREDIT RISKS

The Bank of Russia is going to join the fight against unfair credit risk management, when financial institutions transfer debt from problem borrowers to third parties to conceal real risks. The Central Bank has published on its website a draft amendment to Regulation No. 590-P, which defines the procedure for the ...

THE LARGEST FISH PROCESSING PLANT IN THE NORTH-WEST HAS STARTED BANKRUPTCY

... employees) stopped working indefinitely. According to regional publications, the total debt to creditors has reached 3.8 billion. Of these, about 40% is accounted for by Sberbank, which has already announced its intention to enter into business. UniCredit Bank applied to the court with a similar application. In addition, three subsidiaries of ROCK-1 have started bankruptcy. Sberbank has made claims to them for 1.6 billion rubles . In total, the plant has 6 "daughters". The main beneficiary of ROCK-1 is Alexander Starobinsky, who heads the plant after the death of Mikhail Soshnik, its former owner. The ...

THE EMPLOYEE OF THE DEPARTMENT OF INTERNAL AFFAIRS WENT BANKRUPT, BUT REMAINED WITH DEBTS OF 2.5 MILLION

An employee of the Cherepovets police (Vologda region) was declared insolvent with debts of 2.8 million rubles. In the bankruptcy process, 12% of creditors' claims were satisfied. However, the arbitration, completing the procedure for the sale of her property, left her with debts of 2.5 million rubles. The court decided that the woman had abused her right and resorted to deception. It turned ...

THE WELL-KNOWN CONFECTIONERY HOLDING IS FACING BANKRUPTCY

"Glavtorg", which is the distributor of the holding "United Confectioners", is on the verge of bankruptcy. This is reported by Kommersant. The Russian financial conglomerate Sberbank is going to send an application for the company's insolvency to the court. Among the reasons for possible bankruptcy are the strong dependence of Glavtorg on loans ...

THE NUMBER OF RUSSIANS WITH LOANS HAS REACHED 50 MILLION

... of Russia cited statistics as of January 1, 2024. This is more than 40% of Russian citizens over the age of 16. The total amount of debts of Russians in 2023 increased by 6.4 trillion rubles. As the Central Bank notes, the number of citizens using credit products continues to grow. At the beginning of this year, their number reached 50 million people. Of these, 42 million people owe only to banks, 3.9 million – to banks and microfinance organizations, 4 million – only to microfinance organizations....

BANKS OBJECT TO THE DRAFT LAW BANNING FLOATING RATES

... agreements from the total number of loans. In 2022, the State Duma considered the initiative in the first reading. It was supported unanimously. According to the National Council of the Financial Market, the proposed restrictions will lead to losses for credit institutions. In addition, as Kommersant writes, the council does not agree with the requirement to notify about a change in the payment schedule 15 days in advance. The organization believes that it will be difficult for banks to fulfill such ...

FINANCIAL OMBUDSMEN WILL BE INVOLVED IN HELPING DEBTORS

... over loan debts between banks and citizens. It may be an agreement with signs of mediation between the borrower and the lender, a technical protocol or another document. It is planned that a moratorium on debt collection, new loans and out-of-court bankruptcy may be introduced for the period of conciliation procedures. As a result, borrowers will receive a competent independent public assistant, and lenders will be able to negotiate with them and monitor compliance with agreements and the preservation ...

BORROWERS WILL BE WARNED ABOUT THE CRITICAL GROWTH OF DEBTS

... (MFOs) are required to calculate the debt burden indicator (the ratio of monthly payments on all loans to the client's income) for each possible borrower. If the indicator is more than 50%, then the citizen should be warned about the risks. However, how credit institutions will inform Russians about the high debt burden is not yet very clear. RBC has sent a corresponding request to major Russian banks. Most of them did not give an answer, there is no uniform practice of informing Russians about those ...

THE SUPREME COURT RESOLVED THE DISPUTE ON THE RETURN OF A PREFERENTIAL LOAN DURING THE REORGANIZATION OF A LEGAL ENTITY

In 2020, a credit line for 2.7 million rubles was opened for the Dimark Profi medical center in Sberbank in order to restore the organization's operability. Repayment was supposed to take place from April to June 2021. The rate before the repayment period on the ...

SPECIALIZED COMPANIES HAVE THE RIGHT TO INCLUDE A CLAIM FROM A CONSUMER LOAN

The creditor sent an application to the court to include his claim in the relevant register, but the courts of the first and appellate instances refused to satisfy the applicant's claims. The courts concluded that the assignment of the right of claim ...

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