Bankruptcy and Anti-Сrisis Protection of Business
The Russian Constitutional Court has adopted Resolution No. 30-P dated 5 June 2023. The Constitutional Court has checked whether article 35(2) of the Bankruptcy Law complies with the Constitution to the extent of how in legal practice the right was not recognised of an insurance company to participate in a dispute regarding the acts or omissions of a court-appointed administrator where no claim for losses to be recovered from the administrator has been asserted.
The Plenum of the Russian Supreme Court has adopted Resolution No. 15 dated 1 June 2023 dedicated to provisional remedies. At the same time, resolution No. 55 of the Plenum of the Supreme Commercial Court dated 12 October 2006 “On how commercial courts apply provisional remedies” has been repealed.
25 April 2023 the Russian President signed the Decree “On the temporary management of certain property”.
Pepeliaev Group advises that in August 2022 the Russian Supreme Court issued a Ruling confirming the court practice of the lower courts in the area of shared construction that investors who are individuals are deprived of the benefits in the event of the developers’ bankruptcy when residential premises are acquired for investment purposes.
The purpose of the moratorium is to support citizens, individual entrepreneurs and companies which have found themselves in a difficult financial position after sanctions were imposed on Russia.