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Russian insolvency law is intended for a wide range of borrowers: individuals and companies of all sizes, with the exception of state-owned enterprises, government agencies, political parties and religious organizations.
Russia's law, however, generally prioritizes the needs of creditors who are owed money. This means creditors, including the Russian government, can force a company into involuntary bankruptcy and ...
(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.
Federal Law No. 127-FZ "On Insolvency (Bankruptcy)" dated 26 October 2002 (as amended) (the "Bankruptcy Act"), replacing the previous law in 1998, to better address the above problems [non sequitur] and a broader failure of the action. Russian insolvency law is intended for a wide range of borrowers: individuals and companies of all sizes, with ...
The Federal Law of 26 October 2002, No.127-FZ «About insolvency (bankruptcy)» provides that the function of settlement officer in liquidation procedure in insolvency (bankruptcy) cases of banks, insurance companies, pension funds and other financial institutions is carrying out by Deposit Insurance Agency of Russia (with some exceptions). [5]
One Board heard cases concerning private law and the other heard cases concerning public law (for example, if a corporation is charged with tax evasion or files for bankruptcy). The Presidium of the High Court of Arbitration dealt with appeals on decisions of lower courts of arbitration which had entered into force.
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.
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