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THE SUPREME COURT OF RUSSIA SUMMED UP THE RESULTS OF IMPOSITION OF MORATORIUM ON BANKRUPTCY

The moratorium on bankruptcy, which was introduced in the spring of 2020, provoked many questions in law enforcement activity. This led to a kind of summing up the results of its imposition in the form of a new resolution of the Plenum of the Supreme Court ...

THE SUPREME COURT OF RUSSIA OUTLINED THE GROUNDS FOR CANCELLATION OF MORATORIUM ON BANKRUPTCY

The moratorium on bankruptcy, introduced this year by the Government of the Russian Federation, often becomes a reason for litigation. One of the reasons is the spread of its effect in situations of bad faith of the debtor, when the latter does not pay the ...

THE RUSSIAN IT INTEGRATOR IS THREATENED WITH BANKRUPTCY

... intending to protect its business reputation. Representatives of the JSCB, who did not comment on the submitted application, apparently understand that it will not be very easy to initiate a bankruptcy process at the present time. This is hindered by the moratorium on bankruptcy, established by the authorities for a period of 6 months. Hi-Tech has not yet made a public statement on the rejection of the moratorium. It is known that Hi-Tech has been operating in the capital since 2013. The head of the company ...

Central Bank of Russia reminded insurers how to work under conditions of bankruptcy moratorium

... under the conditions of the bankruptcy moratorium introduced in the country. The regulator indicated the inadmissibility of violating the rights of consumers who rely on timely receipt of insurance compensation. We should remind our readers that the moratorium on bankruptcy was introduced by the Government of the Russian Federation in April of this year for a period of six months. It applies to both individuals and organizations. An exception is made only for developers whose objects are on the list ...

Bankruptcy moratorium turned out to be unnecessary for Ural industrialists

A month has passed since a government act established a large-scale ban on initiating bankruptcy of both individuals and legal entities. However, the industrial enterprises of the Urals continue to massively refuse to apply to the moratorium on insolvency. According to Kommersant, the Russian Copper Company (RCC), located in Yekaterinburg, and its subsidiary, “Mikheevsky GOK”, located in the Chelyabinsk region, have recently filed applications for waiving the moratorium. Both organizations made...

Business bankruptcy: St. Petersburg ranks second in the country

From January to March 2022, courts in the northern capital declared 220 companies financially insolvent, which is 43 enterprises more than in the same period of 2021. The region ranked second in the country in terms of the number of bankruptcies in the business segment - the second one was Moscow, where 553 organizations went bankrupt. Such data is provided by the Fedresurs website . On the third line of the rating there is the Moscow region, where 214 enterprises were declared bankrupt in the...

The number of bankruptcies of individuals in Russia increased by a third

... insolvency cases has also changed. The Krasnodar Territory and the Moscow Region took the first position, while the capital used to be in the lead. As a rule, the initiators of insolvency cases are the debtors themselves. Therefore, we can conclude that the moratorium on bankruptcy introduced by the Government of the Russian Federation will not greatly affect the number of insolvency cases of individuals. This is due to the fact that the measure closes the possibility of initiating the procedure only on ...

"SUKHODOL" PORT IN PRIMORYE ABANDONED BANKRUPTCY MORATORIUM

The organization that manages the seaport located in Sukhodol Bay has filed an application refusing to apply the bankruptcy moratorium. In a message published on Fedresurs, the company refers to paragraph 1 of Art. 9.1 of the profile law. Last week, Rusbankrot reported on the government moratorium that began to operate from April 1, 2022. It allows companies to avoid bankruptcy claims from interested creditors for six months. According to the authorities, this measure should allow entrepreneurs...

Bankruptcy institution reform postponed at least until autumn

Large-scale changes to the insolvency law have been temporarily postponed, at least until the expiration of the previously introduced moratorium on bankruptcies of companies and individuals. Such a joint decision was made by the State Duma and the Cabinet of Ministers. Initially, as early as this spring, the lower house of parliament was about to consider a draft law regulating corporate bankruptcy. However, later the authorities made a decision to first take stock of the situation that has developed...

April Fools' lawsuits: why the Musatovs made a decision to drive the subsidiary of Auchan to bankruptcy

Several bankruptcy claims were submitted to arbitration on April 1, 2022 from individuals against the Atak company. The details of the cases (No. A40-67445/2022, No. A40-67435/2022 and No. A40-67378/2022), which came to different judges of the Moscow court, are still unknown. Considering the moratorium imposed on the initiation of such processes by the country's authorities since April, all of them may turn out to be an April Fool's hoax. We should remind our readers that that Atak LLC is a subsidiary...

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