Insolvency (Bankruptcy) - Services - Infralex

Services Insolvency (Bankruptcy)

Advising on the insolvency (bankruptcy) legislation and procedures related to individuals and legal entities including banks and other financial institutions. Legal support for bankruptcy proceedings.

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09.01.2017

Bankruptcy year in the Russian Supreme Court

Infralex partner Artem Kukin has taken part in summarizing the activity of the Judicial Chamber on Economic Disputes of the Russian Supreme Court in 2016. The research has been hosted by the website “Pravo.ru”. Almost a third of the cases reached the Supreme Court relates to the bankruptcy, these cases were the most interesting for practice. Artem Kukin believes this is due to the economic situation. At the same time bankruptcy cases reveal the most complicated Civil and Corporate Law problems. 

26.12.2016

2016 – Legal results

On the eve of the New Year Infralex traditionally has summed up the outgoing year. Infralex partners Artem Kukin, Alexey Popov and Artur Rokhlin have named the most important events in the legal area. The passing year is not marked by new fundamental laws, substantial precedents, “trials of the century”. The more notable amendments to the Russian Law will come into force on the 1st of January’2017: the new Law “On the State Registration of Real Estate”, the Law on titles to a car-parking space, the new provisions for challenging of companies’ transactions. These laws significantly affect the fundamentals of the economy and the regulation.

26.12.2016

State preferences in bankruptcy cases

On the 20th of December the Russian Supreme Court adopted a number of important regulations related to bankruptcy. It will be more simple to initiate bankruptcy cases against debtors, insolvency officer’s responsibility will be strengthened, the state will increase opportunities to recover statutory payments.
23.12.2016

Artificial debts reached the Russian Supreme Court

Infralex partner Artem Kukin has commented to the website “Pravo.ru” on the bankruptcy case of Vitaly Savvin, a former shareholder of the bank “Peresvet” (№ 305-ЭС16-12960). By considering this case the Russian Supreme Court has revealed the symptoms of artificial debts for controlling of bankruptcy. The Supreme Court stated that the courts must examine the creditor’s claim even though the law provides a simplified procedure to initiate a bankruptcy case against a debtor, without creditor’s obligation to obtain a preliminary court decision for debt recovery. Now such a simplified procedure is getting more and more widespread use. According to Artem Kukin in this situation the Russian Supreme Court is starting to form a system of balances intended to protect from abuse of rights.

16.12.2016

Bankruptcy for shared construction participants and raiders

Infralex partner Artem Kukin has given his expert opinion in the special project “Bankruptcy” hosted by the website “Pravo.ru”. The experts discussed the principal problems of bankruptcy in Russian such as inefficiency of the procedure, the impossibility of reestablishing debtor solvency, status of insolvency officer, difficulties in bringing controlling persons of debtors to subsidiary liability, cross-border bankruptcy issues. Artem Kukin gave the reasons for the weak protection of shared construction participants in developer's bankruptcy cases. Artem Kukin also believes that currently the risk of bankruptcy for raiding is increasing.

15.12.2016

Controlling person will be responsible after company’s “death”

Infralex partner Artem Kukin has commented to the website “Pravo.ru” on the new Law regulating the procedure of bringing to responsibility for dissolution of firms with debts. It will be possible to bring controlling persons of such debtors to subsidiary liability even after the completion of bankruptcy case. This Law was adopted by the State Duma yesterday. Artem Kukin believes the issues of responsibility are relevant but the procedures provided be the new Law can make difficulties and risks.

 

15.12.2016

Economic decisions of the Russian Constitutional Court

Infralex took part in the newspaper “KommersantЪ”special project on choosing the most significant decision s of the Russian Constitutional Court in economic area. The decisions have been held for 25 years of the Court’s activity. The expert chose the 14 decisions related to taxes, right to housing, liquidation of companies, payment of damages to shareholders, courts of private arbitration. The today’s publication of the special project has been timed to the hearing of the case under the Ministry of Justice’s request. The Constitutional Court shall decide whether Russia must pay 1,9 bln euro compensation to formers YUKOS’s shareholders. The judgement about this compensation has been delivered by the European Court for Human Rights but the Russian Ministry of Justice believes that there are a number grounds for refusal to perform this judgement in Russia.

12.12.2016

Moscow ownership interest is out of the bankruptcy estate

Infralex head of real estate practice Sergey Shumilov has commented to the website “Pravo.ru” on the case related to apportionment of Moscow participatory share in the house, built at an investment contract by the company which became insolvent (№ 305-ЭС14-5756). The courts of lower instances rejected to apportion a participatory share but the Russian Supreme Court remanded the case for a new trial. According to the Supreme Court, investment contracts with governmental units are regulated by the special rules. For this reason the Moscow participatory share in the house shall not be included in the bankruptcy assets of the insolvent company and can be transferred in kind.

 

29.11.2016

Hazardous bankruptcy

Infralex partner Artem Kukin has taken part in a traditional research of the Russian legal market, undertaken by the newspaper “Vedomosti”. The results have published today in the review “Legal Money” in the special category “Legal services business”. This year the subject of the research is the crisis and new legislations effect on the law firms. In particular lawyers noted the most hazardous laws adopted recently. According Artem Kukin, “Hazardous rules” include the banks’ right to issue of bankruptcy proceedings against their debtors without a preliminary suit for debt recovery (now the courts allow not only banks but other persons to follow this similar procedure). Moreover a requirement to every legal entity to know its beneficiaries and disclose the information about them can be also considered as a “touchy” rule.

28.11.2016

Directors’ liability for damages

The magazine “KommersantЪ Vlast” has published today the article “With full liability for damages” by Infralex partner Artem Kukin and analyst Olga Pleshanova. The authors examine the Russian judicial practice related to holding liable of companies’ top managers. Now the liability for damages strengthens, the courts answer claims for damages more often. The experts are afraid that business can remain without leaders: few will risk all their assets. Additionally, directors' and officers' liability insurance is not developed in Russia. 

19.10.2016

The criteria of bankruptcy managers’ responsibility

The magazine “Vestnik economicheskogo pravosudiya” (“Bulletin of economic justice”) 10’2016 has published an article by Infralex partner Artem Kukin and analyst Olga Pleshanova. The authors commented two cases of bankruptcy managers’ responsibility (court acts № 303-ЭС16-1164 (1, 2) from 04.07.2016, № 309-ЭС15-18344 from 29.07.2016) considered by the Judicial Chamber on Economic Disputes of the Russian Supreme Court. The Supreme Court looks for criteria of damage recovering from managers and develops the positions expressed be the Higher Arbitrazh (Commerсial) Court in the guidelines of its Plenary Session from 30.07.2013 № 62.

14.10.2016

Assignment faced a bankruptcy asset

Infralex head of practice Yulia Karpova has commented to the website “Pravo.ru” on the case related to assignment of a future right which arised after the bankruptcy of the bank-assignor. Payment for the assignment was subject to the long-time delay. The Russian Supreme Court held the transfer of right unlawful because the right arised in a bankruptcy period and shall come into the bank’s bankruptcy asset. The transfer of this right to a creditor would allow preference of one creditor over the others. The Supreme Court protected the “equality” of creditors, noted Yulia Karpova.        

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Competition Law Advising on economic concentration and the application of antitrust legislation, legislation on advertising, on foreign investment in Russian strategic enterprises, on government procurement. Representation of the clients’ interests. Infrastructure. Transport. PPP Legal support for PPP participants by both private investors and public entities that is the Russian Federation, Russian regions, municipals, entitled state corporations and state companies. Concepts for infrastructure projects structuring. Corporate Law and M&A Advising on corporate relations in overall economy, legal support for transactions including ones under foreign law, legal due diligence, corporate disputes resolution. Tax Law Advising on Russian and international taxation, tax risks assessment,  representation in administrative and judicial disputes with tax authorities. Real Estate Advising on investments in capital construction, legal support for activity of developers, investors, contractors. Assistance in the registration of titles, real estate disputes resolution. Insolvency (Bankruptcy) Advising on the insolvency (bankruptcy) legislation and procedures related to individuals and legal entities including banks and other financial institutions. Legal support for bankruptcy proceedings.
Dispute Resolution Representation of our clients’ interests in all instances of the judicial system, including in the Constitutional Court of the Russian Federation, arbitration proceedings, including in the International Commercial Arbitration Court under the Russian Federation Chamber of Commerce and international arbitration institutions. Criminal Law and Procedure Advising of our clients and their representation and defense in criminal proceedings for tax crimes and other cases of corruption and economic disputes. Intellectual Property Advising on intellectual property related issues, drafting of agreements, legal due diligence of intellectual property, patent and trademark dispute resolution including non-use cancellation actions, assistance in registration.