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THE SUPREME COURT OF RUSSIA SUMMED UP THE RESULTS OF IMPOSITION OF MORATORIUM ON BANKRUPTCY

The moratorium on bankruptcy, which was introduced in the spring of 2020, provoked many questions in law enforcement activity. This ... ... payment of alimony, wages or benefits, as well as compensation for harm caused to life or health. 3. When initiating his (her) own bankruptcy, the debtor has the right to declare an installment plan during the period of the moratorium against him (her). In ...

THE SUPREME COURT OF RUSSIA OUTLINED THE GROUNDS FOR CANCELLATION OF MORATORIUM ON BANKRUPTCY

The moratorium on bankruptcy, introduced this year by the Government of the Russian Federation, often becomes a reason for litigation. One of the reasons is the spread of its effect in situations of bad faith of the debtor, when the latter does not pay the ...

Business bankruptcy: St. Petersburg ranks second in the country

... quarter of this year. In terms of bankruptcies of individuals, St. Petersburg took only the sixth place in Russia - 2,101 people in three months. On the first three lines there are the Krasnodar Territory, the Moscow Region and Moscow (2657, 2571 and 2501 bankruptcy, respectively). St. Petersburg is traditionally distinguished by high business activity, so the second place in business bankruptcy looks quite natural, comments Elena Kozina, the managing partner of the “ELKO profi” law office. Since the end ...

"SUKHODOL" PORT IN PRIMORYE ABANDONED BANKRUPTCY MORATORIUM

The organization that manages the seaport located in Sukhodol Bay has filed an application refusing to apply the bankruptcy moratorium. In a message published on Fedresurs, the company refers to paragraph 1 of Art. 9.1 of the profile law. Last week, Rusbankrot reported on the government moratorium that began to operate from April 1, 2022. It allows companies ...

Bankruptcy institution reform postponed at least until autumn

... on bankruptcies of companies and individuals. Such a joint decision was made by the State Duma and the Cabinet of Ministers. Initially, as early as this spring, the lower house of parliament was about to consider a draft law regulating corporate bankruptcy. However, later the authorities made a decision to first take stock of the situation that has developed against the backdrop of the moratorium, as well as the results of the economic and financial stability of companies. It will be possible ...

April Fools' lawsuits: why the Musatovs made a decision to drive the subsidiary of Auchan to bankruptcy

Several bankruptcy claims were submitted to arbitration on April 1, 2022 from individuals against the Atak company. The details of the cases (No. A40-67445/2022, No. A40-67435/2022 and No. A40-67378/2022), which came to different judges of the Moscow court, ...

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 ...

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 ...

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

... the Russian Federation in the ‘Review of judicial practice for resolving disputes related to the establishment of claims in bankruptcy procedures that control the debtor and persons affiliated with him’, approved by the Presidium of the Supreme Court ... ... 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 ...

The number of bankruptcies of individuals in Russia increased by a third

... be in the lead. As a rule, the initiators of insolvency cases are the debtors themselves. Therefore, we can conclude that the moratorium on bankruptcy introduced by the Government of the Russian Federation will not greatly affect the number of insolvency ... ... an improvement in the financial condition of citizens, Izvestia reports . What is more, a gradual slowdown in the growth of bankruptcy cases may be due to the fact that at the beginning of the introduction of the institution of personal bankruptcies,...

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