Search

Uzbekistan adopts law on bankruptcy of individuals

... than for a month. Anyone who will be applying to the judicial authorities with insolvency petitions must transfer an amount equal to seven times the minimum wage (822,000 soums) to a special deposit. This money will be used to pay for the work of the bankruptcy trustee. It is known that in the event of bankruptcy of individuals, the law allows several procedures: debt restructuring, sale of property and bankruptcy. If we are talking about an individual entrepreneur, then liquidation proceedings are possible as well. We should remind our readers that ...

THE BANKRUPTCY PROCEDURE HAS BECOME 40% MORE POPULAR AMONG RUSSIANS

... Russians (including sole proprietors) became bankrupt. According to statistics published on the Fedresurs portal, the number of citizens who went bankrupt in 2022 increased by 37.8%. At the same time, some Russians (2,933 people) preferred to file bankruptcy out of court, using the services of the MFC. Such citizens turned out to be 32.2% more than in the same period of 2021. The growing popularity of the institution of bankruptcy among citizens, experts believe, may indicate an increase in their ...

How to deal with inaction of the bailiff in bankruptcy

The bankruptcy trustee of a debtor citizen initiated an administrative case, in the framework of which he asked to recognize the bailiff's inaction as illegal. The issue concerned the necessity to terminate previously initiated enforcement proceedings against ...

WHAT WILL THE BANKRUPTCY MORATORIUM LEAD TO?

... state. Six months is quite a decent period, during which it is possible to either prepare for the procedure, accumulate all sources of income, find a reliable lawyer, or completely solve all financial problems. bankruptcy, bankruptcy of legal entities, bankruptcy of individuals, bankruptcy moratorium 2022, experts, columnists, state support

Supreme Court of Russia allowed bankruptcy trustee request information about the assets of bankrupt’s children

... was declared bankrupt. Since the insolvent citizen had not only a spouse, but also several sons (born in 1998 and 2006), the bankruptcy trustee made a conclusion that the debtor could hide part of the assets by registering them for children, who did not ... ... Makarov, the decision adopted by the Supreme Court may contribute to the unification of judicial practice on issues related to the bankruptcy of individuals and the search for their property.

IS BANKRUPTCY AS GOOD AS IT SEEMS TO BE?

... pursues the goal of relieving a conscientious person from the debt burden, but on the other hand, it requires significant expenses and creates the risk of losing all property without the desired cancellation of debts. Let’s consider negative aspects of bankruptcy of individuals. Bankruptcy proceedings cost The debtor bears the costs of paying for the services of a bankruptcy trustee, publications, postage, services of attracted specialists (for example, lawyers). In this case, the bankruptcy case of a citizen may be terminated ...

NUMBER OF BANKRUPTCY CASES BEGAN TO GROW IN RUSSIA

... bankruptcies stopped. At the same time, last year, the total number of insolvency cases dropped by 20% at once due to the imposed moratorium and non-working days. It is curious that the debtors themselves, on the contrary, are in no hurry to declare bankruptcy. The number of insolvency petitions filed this year is lower than in the same period last year. A high growth in bankruptcy cases was shown by the Krasnodar Territory, where tourism is actively developed. Probably, the multiple restrictions ...

Record growth of bankruptcies recorded in Russia in spring 2022

... subsequent year was ahead of its predecessor in terms of such cases. Another reason for the active spread of the procedure is the awareness of citizens about such a possibility. Over the years, the number of people who learn about their right to file for bankruptcy and write off debts has grown, reports Forbes . If we talk about bankruptcy of individuals, in the majority of cases they initiate the proceedings themselves. Basically, these are the least well-off categories of the population, for whom the measure becomes a way out of the debt hole. That is why the bankruptcy moratorium ...

Three-day time limit may be approved for termination of enforcement proceedings in Russia

... was necessary, the citizens are forced to apply to court, and this also entails spending time and effort. In addition, the deputies drew attention to the fact that the current rule of law is in conflict with the provision of the law ‘On Insolvency (Bankruptcy)’. The end of the recovery must take place immediately after the debtor has received the status of bankrupt (Article 126). It would seem that robotization should have affected the work of bailiffs. We should recall that at the end of 2021, ...

The number of bankrupt borrowers doubled in Russia

... the first nine months of 2021 turned out to be 80% more than in 2020. Compared to 2019, the number of bankruptcies increased by 188%, which means that it has almost doubled. Statistics show that in most cases (95.1%) the initiative for launching the bankruptcy proceedings of citizens belongs to them. People simply cannot pay off their debts and file applications in court. Situations when tax authorities initiate proceedings against individuals are minimal. Their share slightly exceeds 1.1%. In another ...

Sorted by relevance | Sort by date