LEGAL SOLUTIONS

Bankruptcy in Russia

Despite the various approaches, the Russian market has faced the consequences of world financial turmoil to an extent which as yet is hard to determine. However, business society has been observing an increasing amount of bankruptcy procedures in the past two years.

We have an in-depth experience in the most complex and problematic insolvency cases in Russia, including large ones. In our practice we have acted for creditors protecting their interests until the institution of creditors committee or final winding-up procedures. We have an experience in acting for insolvent companies protecting businesses from rival creditors

The Russian legislation on bankruptcy has experienced a considerable change in 2009, introducing new rules on such vital issues in insolvency process, as status and authority of arbitral administrator, grace periods, periods and rules on challenging of transactions, definitions of affiliated party transactions and “distrustful” transactions, rights of the creditors in the process. We are constantly involved in the insolvency court practice and are aware of the latest developments in this respect. This always gives our clients an advantage of having the legal position which is well adjusted to the recent court practice.

While forming a strong legal position of a creditor in bankruptcy, Ligerion uses its resources to ensure that the asset bankruptcy pool is well protected. Such procedures include protection measures agains asset transfers. In our practice we also apply various measures which protect our clients from such fraudulent transactions or malevolent counterparties. Please refer to the section describing the Asset Transfer Protection for further information.