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MOST RUSSIANS INITIATE BANKRUPTCY ON THE ADVICE OF BORROWERS

... measure that should be applied only in exceptional cases. So, over the past year, more than 390 thousand citizens filed for bankruptcy in the courts. For comparison, in 2022 there were 22% fewer such appeals to the courts. The relevant statistics were ... .... Experts remind that it is possible to settle debts through obtaining credit holidays, concluding a settlement agreement or restructuring.

UNJUSTIFIED CANCELLATION OF THE RESTRUCTURING PLAN IS UNACCEPTABLE

In the framework of the bankruptcy case (No. A73-13943/20), a plan for restructuring the debts of a citizen was approved between the debtor and the bank, the cancellation of which was requested by the bank in connection with the improper performance of the debtor's obligations. The courts of two instances agreed with the ...

BUSINESS REPAID 19 BILLION OF TAX DEBTS DUE TO RESTRUCTURING

In six months of 2023, the business repaid 19 billion rubles of tax debts due to the restructuring procedure. This is reported by the press service of the Federal Tax Service (FTS). The results of the first half of this year are almost 1.5 times more than in the same period of 2022. In addition, for six months in the amount of over ...

NO MORE PARTIES. A CHAIN OF HOLIDAY STORES ON THE VERGE OF BANKRUPTCY

... have begun negotiations on a possible restructuring. The result of this may be the transition of the retailer under the control of creditors and the exchange of debt for shares. It became known that the company hired a number of firms specializing in bankruptcy and corporate governance (Moelis &Co., AlixPartners LLP and others) to explore options for possible restructuring, including the possible attraction of additional capital. The money supply owned by the organization is rapidly declining, while the debt burden has increased significantly. This also affected the company's bonds, which mature in August ...

Supreme court of Russia outlined the situation when bankruptcy trustee does not have a right for remuneration

... debtor's insolvency proceedings. The courts of the first two instances rejected the claim, the district court satisfied, and the Supreme Court considered the actions of the anti-crisis manager insufficient to receive money. The case concerned the bankruptcy of an individual, who insisted on carrying out a debt restructuring procedure against him and presented a plan for paying the debt that he had drawn up. At the same time, the bankruptcy trustee and the creditor objected, insisting on the procedure for the sale of the property. However, restructuring was ...

CHINESE COFFEE CHAIN LUCKIN COFFEE FILES FOR BANKRUPTCY IN THE US

The Chinese coffee chain Luckin Coffee, which has been slowly recovering its business after the scandalous exclusion from the American stock exchange Nasdaq, filed for bankruptcy protection in the United States. The company's management is currently trying to get permission for financial restructuring. The company, once cited as Starbucks' main Chinese rival, shocked Wall Street in 2019 by stating that hundreds of millions of dollars of sales had been fabricated. The US Securities and Exchange Commission imposed a $ 180 million fine ...

ALEXEY KHOTIN'S DEBTS WILL BE RESTRUCTURED

... businessman, to the income of the Russian Federation. In the summer, several business centers, the Cheryomushki shopping center and a share in the Four Seasons Hotel were seized. According to Pavel Khlyustov, who represents Khotin's interests in the bankruptcy process, the restructuring act issued by the Moscow Arbitration Court will prevent the nationalization of the property associated with the businessman. The court has already included in the register of creditors' claims over 53.6 billion of Khotin's principal debt ...

VTB BANKRUPTS THE FOUNDER OF INTECH BECAUSE OF THE LOAN GUARANTEE

On March 18, 2024, the arbitration court in St. Petersburg issued a ruling on the introduction of bankruptcy proceedings for Sergei Semkin (case No. A56-80247/2023). The restructuring of his debts has now begun in relation to the founder of the Intech holding. In the third turn of the register, the court included the principal debt to VTB Bank in the amount of over 275 million rubles and a penalty in the amount of 13....

IRISH PHARMACEUTICAL COMPANY GOES BANKRUPT FOR THE SECOND TIME

... liabilities of the company were listed. It is indicated that they range from $1 billion to $10 billion. It is planned that the bankruptcy process will be completed by the end of 2023, if the company is supported by all interested parties. It is known that ... ... has $480.6 million left. During this quarter, the firm suffered losses of $748 million. After Mallinckrodt announced another restructuring, its shares lost 18.4% at auction. In total, over the past year, their cost has decreased by 92%.

THE EX-GOVERNOR OF THE CHELYABINSK REGION WAS DECLARED BANKRUPT

... transaction, according to which Dubrovsky received 37.228 million from the "Installer", invalid. By February 2023, when a bankruptcy lawsuit was filed against the ex-head of the region, his assets were seized for 930 million rubles. In the autumn of ... ... thousand monthly). However, the court rejected the application and refused the request for an installment plan. The procedure for restructuring its debt has been approved until November 20. The next hearing is scheduled for November 13. The court entrusted ...

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