Clarifications of the Russian Supreme Court concerning legislation on bankruptcy

The Law on bankruptcy provides for a suspension of enforcement proceedings regarding claims that had arisen before the moratorium. However, it is still an open issue whether the clarifications of the Supreme Court apply to enforcement proceedings relating to claims that arose after the moratorium was introduced. We believe that there are no grounds for it to be otherwise.

Restoration of the timeframes in bankruptcy cases

According to the clarification in the Overview of the Russian Supreme Court, the court should recognise that claims have been raised by creditors and/or that the timeframes for the performance of any actions have been compiled with in a bankruptcy case, taking into account the actual circumstances of each specific case.



It should be borne in mind that the Law on bankruptcy provides that the timeframes for filing claims may be restored only in specific cases, for example, in cases relating to the bankruptcy of developers or individuals and with regard to claims to impose liability on the persons controlling the debtor. Taking into account the position of the Supreme Court that the fact alone of days off having been announced for the period of the pandemic does not have any effect on the procedural deadlines, we recommend that all the necessary actions in bankruptcy cases be carried out in a timely manner.