On 21 April 2020, the Russian Supreme Court issued clarifications addressing various issues related to COVID-19 (“Clarifications”).

Terms of performance of obligations

According to the Clarifications, the period from 30 March to 30 April 2020, which was declared to be non-working by the Decree of the Russian President, does not extend the terms of performance of obligations, including payment terms.

Limitation period

The Russian Government has introduced a moratorium on the filing of insolvency claims (the "moratorium")¹ from 6 April through 6 October 2020. This will have important legal consequences both for the persons covered by it ("protected debtors") and for those with whom they do business. The moratorium imposes restrictions on transactions made by protected debtors.

The confirmed number of persons in Russia infected with SARS-CoV-2/Covid-19 (Corona) exceeds 32,000. Many people and enterprises are affected by non-working days, lock down measures and the resulting direct and indirect impact on work, business and finances. This summary highlights some recent legal issues in connection with the Corona crisis in Russia.

Please find more information in the attached report>>

September 2016 CMS_LawTax_Negative_28-100.eps Enforcing Security over Real Estate and Shares across Europe 2 | Enforcing Security over Real Estate and Shares across Europe 3 Introduction 4 Albania 5 Austria 6 Belgium 7 Bulgaria 8 Czech Republic 9 England and Wales 10 France 11 Germany 12 Hungary 13 Italy 14 Luxembourg 15 Montenegro 16 Netherlands 17 Poland 18 Portugal 19 Romania 20 Russia 21 Scotland 22 Serbia 23 Slovakia 24 Slovenia 25 Spain 26 Turkey 27 Ukraine 28 Contacts Contents 19 practice and sector groups working across offices Ranked 2nd most global law firm in the Am Law 2015 Glob

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UPDATED 3 AUGUST 2020

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Updated: Ireland, Israel

We take a look at some of the recent emergency legislation and measures implemented by various nations around the world in response to COVID-19. As this is a rapidly developing crisis, please ensure you keep a close eye on the Lexology Coronavirus hub page for the most up-to-date information.

The ongoing COVID-19 pandemic has profoundly reshaped the global business landscape. Some companies that only months ago seemed unstoppably profitable have been brought to an existential brink by extended lockdowns, supply chain failures, and other obstacles caused by the pandemic. Other companies who have experienced less disruption (or in some cases windfalls) stand at the threshold of opportunity even as they prepare themselves for the challenges of the 'new normal'.

Amendments to Article 9.1 of the Insolvency Law¹ ("Law 149-FZ") came into effect on 24 April 2020. The amendments provide that the benefit of the insolvency filing moratorium can be waived (the "moratorium waiver"). In addition, on 21 April 2020, the Supreme Court of the Russian Federation ("Russian SC") adopted clarifications (the "Clarifications"),² which, in particular, explain that the moratorium will apply if the debtor meets the formal criterion of being included in the list of persons covered by the moratorium ("protected debtors").

В России на протяжении довольно долгого времени действуют нормы, позволяющие кредиторам в случае банкротства компании привлечь к ответственности ее бывших собственников и руководителей (так называемая субсидиарная ответственность при банкротстве). При этом размер ответственности определяется исходя из размера недополученных кредиторами по итогам банкротства средств.

In Russia, there have long been rules that allow creditors to hold a company’s former owners and executives liable in the event of insolvency (referred to as subsidiary liability in insolvency). In this case, the amount that the individuals are liable for is based on the funds that remain outstanding to the creditors following the insolvency.