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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 ... ... measure will allow debtors to recover from difficulties and find other sources of income without resorting to closing their businesses and laying off the employees, RBC reports . The Prime Minister expressed hope that this would help businesses and ...

Six-month bankruptcy moratorium will be introduced in Russia

... 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 ... ... pandemic. Experts believe that a wave of delayed bankruptcies is inevitable. Moreover, before, the moratorium applied only to those business sectors that were recognized as the most affected by the consequences of the pandemic by the state. Now we are talking ...

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 ... ... were under effect of the moratorium. In fact, this means that more than 14% of all organizations and more than 40% of private businessmen were protected from sudden bankruptcy. What is more, the policy of the Central Bank, which established incentives ...

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