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Russia introduces bankruptcy moratorium

... of the Cabinet of Ministers Mikhail Mishustin announced the introduced norm the day before. According to the official, the 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 citizens to improve the state of affairs in the situation of imposing sanctions against Russia. The only sector that turned out ...

Six-month bankruptcy moratorium will be introduced in Russia

... particular, comparing the idea of introducing a bankruptcy ban now with the moratorium that was introduced during the 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 about all sectors of the economy without exception. Evgeny Gorbachevsky, director of the federal financial and legal company ...

ST.PETERSBURG IS RANKED THIRD IN THE RATING OF CORPORATE BANKRUPTCIES

... Federation, at the beginning of October 2020, 517 thousand legal entities and more than 1.6 million individual entrepreneurs 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 for the additional creation of reserves by April 1, 2021, is among the reasons for the decline of the number of bankruptcies....

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