Bankruptcy and Anti-Сrisis Protection of Business
Alerts
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.
Pepeliaev Group advises that on 1 September 2020 amendments are coming into effect to the Bankruptcy Law which provide for a new procedure of out-of-court bankruptcy of individuals.
Pepeliaev Group advises that on 8 June 2020 the Russian President signed the new federal law No. 166-FZ on measures to ensure the stable development of the economy and to prevent the consequences of the spread of the coronavirus. Article 9 of the federal law contains provisions granting debtors to which the moratorium applies a court instalment plan in bankruptcy cases for the purpose of settlements with creditors.
Pepeliaev Group advises that draft law No. 953580-7 is pending its first reading in the Russian State Duma (the lower house of the Federal Assembly of Russia). Article 9 of the draft law contains provisions concerning the granting to debtors to which the moratorium applies of a court instalment plan in bankruptcy cases for the purpose of settlements with creditors.