The Presidium of the Russian Supreme Court has approved a Review* of the judicial practice in disputes related to claims made by persons or entities (below referred to as persons) controlling a debtor and its affiliates in bankruptcy proceedings.
The Review provides important clarifications on the specifics of the participation in bankruptcy proceedings of persons affiliated with a debtor and persons controlling the debtor’s activities.
During his national address on 2 April, President Putin announced his decision to prolong the initial non-working days from 4 April to 30 April 2020 inclusive in order to fight against the spread of COVID-19. He signed a new Executive Order* providing for this.
В ходе своего обращения к гражданам 2 апреля президент В. В. Путин объявил о своем решении продлить первоначально установленный режим нерабочих дней с 4 апреля по 30 апреля 2020 года включительно. В этих целях президентом был подписан новый указ, предусматривающий соответствующие меры.
Президиум Верховного Суда РФ утвердил Обзор судебной практики разрешения споров, связанных с установлением в процедурах банкротства требований лиц, контролирующих должника и аффилированных с ним лиц.
В Обзоре даны важные разъяснения относительно специфики участия в делах о банкротстве лиц, аффилированных с должником и (или) контролирующих его деятельность.
New grounds and conditions have been introduced to allow creditors to bring the executives and/or members of the management bodies of bankrupt Russian companies to subsidiary liability. This is expected to increase debtors’ assets that can be used to satisfy creditors’ claims as fully as possible. Also, any person will be able to find out whether bankruptcy procedures have been initiated against a legal entity by searching the * (the “Company Register”).
В июне 2017 г. вступят в силу поправки в законодательство, направленные на улучшение защиты прав кредиторов, что усилит борьбу со злоупотреблениями при банкротстве и ликвидации юридических лиц
On 10 August 2012, the Supreme Commercial Court of the Russian Federation (the “SCC”) published a decree clarifying disputes relating to suretyships (the “Decree”). The Decree has not been significantly amended since the draft was published in February 2012 and analysed in the March edition of the Legal Digest.
We would like to note several important positions included in the SCC’s Decree:
On 19 August 2011, the Ministry of Economic Development of the Russian Federation published on its official website a draft order on establishing the procedure for entering information on bankruptcies in the Unified Federal Register (the "Order").
Specifically, the Order: