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EXECUTIVE IMMUNITY EXTENDED TO MORTGAGE HOUSING OF A BANKRUPT

A citizen recognized as insolvent will keep the only housing that is in the mortgage. The relevant law was signed by Russian President Vladimir Putin. Due to changes in the law, a third party will be able to give the debtor a loan without interest to repay the mortgage. Earlier, this required first dealing with all the requirements included in the ...

PART OF THE MONEY FROM THE SALE OF THE ONLY MORTGAGE HOUSING WILL BE LEFT TO THE BANKRUPT. BUT THIS IS NOT ACCURATE

... housing, rather than direct them to repay the remaining debts. The amendments were developed in compliance with the decision of the Constitutional Court. Earlier, the State Duma had already tried to ease the situation of bankrupt citizens with a single mortgage. So, the State Duma previously adopted a law according to which the debtor can conclude a settlement agreement with the bank, without taking into account the opinion of other creditors. Before that, the debtor could keep the housing under a settlement agreement only if it was approved by creditors,...

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