Bankruptcy and Anti-Сrisis Protection of Business

The Russian Supreme court’s new explanations regarding bankruptcy

On 30 April 2020, the Russian Supreme Court (the “Supreme Court”) approved additional Review No. 2 of selected issues of case law associated with the application of legislation and measures to prevent the spread of the new coronavirus infection (COVID-19) in the Russian Federation.

The right to waive the moratorium on bankruptcy

Pepeliaev Group advises that on 27 April 2020 Federal Law No. 149-FZ dated 24 April 2020 came into force, introducing significant changes to the Law on bankruptcy regarding the moratorium on bankruptcy.

COVID-19: transactions prohibited during the moratorium on bankruptcy

Pepeliaev Group advises on the rules for identifying entities with respect to which the moratorium on bankruptcy was enacted in the light of the coronavirus COVID-19 pandemic, and concerning certain types of transactions which such organisations have no right to enter into while the moratorium is in force.

Clarifications of the Russian Supreme Court concerning legislation on bankruptcy

New restrictions on filing documents with a court: what is to be done?

The moratorium on the initiation of bankruptcy cases: consequences and recommendations On 26 March 2020 a draft law was put before the State Duma; this draft law grants a right to the Russian Government to introduce a moratorium on the initiation of bankruptcy cases in extraordinary cases. Taking into account the current situation, we can expect that the draft law will be promptly adopted and applied.

A pledge status of a competent body’s claims in bankruptcy cases: risks and consequences Law firm Pepeliaev Group advises of the entry into force of amendments to the Russian Tax Code to introduce a pledge status of outstanding obligations to the state budget, starting from 1 April 2020 .
Amendments to the Russian Tax Code have been introduced by Federal Law No. 325-FZ dated 29 September 2019 “On amending Part I and Part II of the Tax Code of the Russian Federation”, including to article 73 of the Code. The provision has been supplemented with clause 2.1 concerning the creation of a pledge with respect to the obligations to the state budget by virtue of a law. Please find below the principal amendments and consequences of the new provisions being implemented as applied to the interests of a taxpayer company and its creditors if the company goes bankrupt. 

New legal positions of the Russian Supreme Court regarding creditors exercising their rights in bankruptcy cases Pepeliaev Group draws your attention to the new legal positions the Russian Supreme Court has formed concerning foreclosure in bankruptcy cases involving individuals and the exercise of creditors’ other rights. 

The Supreme Court has explained the finer points of secondary liability of controlling entities

Pepeliaev Group draws your attention to the explanations of the Russian Supreme Court regarding the application of Chapter III.2 of the Bankruptcy Law “Liability of a debtor’s executive manager and other persons in a bankruptcy case”.

Explanations of the Russian Federal Tax Service have increased the risks of secondary liability for controlling parties

Pepeliaev Group draws your attention to the official position of the Russian Federal Tax Service with regard to the application of the new provisions of bankruptcy legislation on the secondary liability of controlling parties.

Debt collection activities: new rules Pepeliaev Group would like to advise of material changes in the regulation of activities relating to the return of individuals’ overdue debts. 

Developments in bankruptcy legislation: the risks are getting higher Pepeliaev Group would like to advise of far-reaching changes in procedures used in bankruptcy cases.