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NATIONALIZATION IN BANKRUPTCY: TRADE UNIONS TAKE THE INITIATIVE

The Federation of Independent Trade Unions of Russia came up with an initiative to nationalize bankrupt enterprises in order to save jobs in a crisis situation in the company. The idea was voiced ... ... task of the state, even if this will cost the losses in taxes. Additionally, FITU proposed the introduction of a ban on the bankruptcy of large and medium-sized enterprises, as well as the defense industry enterprises and those fulfilling orders within ...

Ministry of Economic Development is working on a law prohibiting the withdrawal of assets through bankruptcy

The Ministry of Economic Development has initiated new amendments to the Insolvency Law. This time we are talking about suppressing attempts to withdraw the assets through bankruptcy proceedings by unscrupulous debtors . At the moment, the bill has already been developed and sent for approval of the government. According to Mikhail Beshtoev, the Head of the Corporate Regulation Department of the Ministry of Economic Development,...

Russian banks ask to change the rules of the bankruptcy moratorium

... debtors will be able to evade their obligations, which will lead to additional financial problems on the part of their counterparties. The relevant draft law was prepared by the Ministry of Economic Development, but has not yet been adopted. Another initiative was the idea of establishing the right of creditors to initiate court cases to deprive debtors of the right to apply a moratorium on bankruptcy. In this case, the applicants themselves will be required to prove that the debt did not arise due to the circumstances due to which the moratorium was introduced, Interfax reports .

State Duma of Russia will consider the bill on increasing payments in case of bankruptcy

... increase the amount of payments to employees of bankrupt companies. We are talking about including the debts to employees in the second order, as well as changing the current legislative limit on payments (up to 30 thousand rubles for each month). The initiative was taken by the deputies of the Liberal Democratic Party, who proposed to increase the amount to 100 thousand rubles in connection with the forecasted inflation in the country up to 20%. The draft law was published on the Telegram channel ...

Belarus abandoned the idea of introduction the institution of bankruptcy of individuals

The institution of bankruptcy of individuals, which has become widespread in Russia and a number of Eastern European countries, will not yet be introduced on the territory of Belarus. This is due both to the high rate of repayment of loans, and, in general, to the low ...

Russian deputies proposed to fix the terms of bankruptcy in the law

... it difficult to get real results and restore the solvency of a person. As an example, Kharchenko cites the Rabochy plant, the bankruptcy process of which has been going on for ten years. Deputies of the Legislative Assembly of the Rostov region also considered ... ... the representatives of the State Duma. The direction of the appeal to the federal level will be preceded by consideration of initiatives in the relevant committee of the Legislative Assembly of the Rostov Region.

LINKED TRANSACTIONS IN BANKRUPTCY WILL BE EASIER TO CHALLENGE

The Ministry of Economic Development and Trade proposed to amend the legislation on bankruptcy in order to simplify the procedure for challenging linked and potentially invalid transactions of the debtor. The initiative lies in the need to specify the conditions for challenging the chain of transactions in the insolvency law, by means of which the unscrupulous pre-bankrupts cover up the withdrawal of their assets. At the moment, the law does not prohibit ...

State Duma of the Russian Federation calls to take out the fraudulent scheme of using escrow accounts

... lies in the fact that some unscrupulous developers sell apartments to their affiliates at a reduced price using escrow accounts, and take the rest of the funds in cash. Thus, the sum on the account remains less than it should be, and in a situation of bankruptcy of the developer, equity holders will not receive their money. The deputies propose to establish the mandatory check of developers carried out by prosecutor's office in a situation where he sells more than 10% of the apartments at a price which ...

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

Several deputies of the State Duma came up with the initiative to reduce the deadlines for completing enforcement proceedings. On January 13, 2022, draft law No. 55151-8 was officially ... ... 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 ...

Clients of bankrupt travel agencies will have a chance to get 40 thousand rubles

... for bankruptcy. The amount of monetary compensation has not been finally determined. Its cost can be about 40 thousand rubles per person, if the cost of one tour on a beach holiday is taken as the basis for the calculation. RBC media reports on the initiative of the Federal Tourism Agency, referring to the head of the agency, Zarina Doguzova. According to her, the current system of financial guarantees in the tourism sector does not provide for mechanisms to protect consumers from sudden bankruptcy of travel agencies. And although this situation, according to statistics, affected less than 1% of tourists, the prospect of such a ruin of tour operators may be depressing for citizens. In 2017, amendments to the legislation, obliging travel ...

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