Creditors will struggle in bankrupt individuals cases starting 1 October 2015

The new personal bankruptcy law enters into force on 1 October 2015

The new personal bankruptcy law enters into force on 1 October 2015. Individuals will now be allowed to go bankrupt while creditors are left to struggle. The rules have caused much apprehension and it remains to be seen how business will operate in the new environment.

Filed under:
Russia, Insolvency & Restructuring, Dentons, Bankruptcy
Authors:
Timothy Stubbs , Andrei Strijak , Evgenia Laurson , Roman Zaitsev
Location:
Russia
Firm:
Dentons