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Vasilii V Vitrianski. "New Legislation on Insolvency (Bankruptcy)". William Simons (ed). Private and Civil Law in the Russian Federation. Martinus Nijhoff Publishers. Leiden and Boston. 2009. Chapter 10. Page 129 et seq. Wim A Timmermans. "Russian Bankruptcy Law in Practice and its Impact on the 1998 Bankruptcy Law". William Simons (ed).
(Reuters) - As foreign companies seek to exit Russia over the war in Ukraine, they face the prospect that Russian bankruptcy law could be used to seize assets and even lead to criminal penalties.
The Russian financial crisis (also called the ruble crisis or the Russian flu) began in Russia on 17 August 1998. It resulted in the Russian government and the Russian Central Bank devaluing the ruble and defaulting on its debt. The crisis had severe impacts on the economies of many neighboring countries.
Russia: 1918: Repudiation of Tsarist debts by Bolshevik revolutionaries. [17] 1998: After world commodity prices dropped on major Russian exports (particularly metals and oil) the 1998 Russian financial crisis ensued. Mounting debts led to the government declaring a moratorium on payments to international creditors. 2022: 2022 Russian debt ...
Here is how that could work: HOW DOES RUSSIA'S BANKRUPTCY LAW DIFFER FROM BANKRUPTCY LAW IN THE UNITED STATES? In the United States, bankruptcy laws are meant to give indebted companies a fresh start.
(Reuters) -As foreign companies seek to exit Russia over the war in Ukraine, they face the prospect that Russian bankruptcy law could be used to seize assets and even lead to criminal penalties.
On 29 April, Russia's Finance Ministry said that it made an attempt to repay US$649.2 million on Russia-2022 and Russia-2042 Eurobonds (in dollars through non-sanctioned Bank Dom.RF JSC to Bank of New York Mellon Corp. and then to Citibank N.A., London branch [23]), but it was not clear if the payments would reach the recipients and Russia ...
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