IBA Insolvency Restructuring International in its Vol 10 No 1, March 2016 published an article by Sergey Treshchev and Elena Malevich, two practitioners in our Moscow office on Russia: Recent Developments in the Bankruptcy of Banks.
The article provides a brief outline of the particularities of insolvency proceedings in relation to banks and credit organisations in Russia, based on recent amendments to the insolvency law. They describe the main bankruptcy stages in relation to credit organisations (out-of-court procedures, initiation of bankruptcy and liquidation) and their features. The article also analyses the role of Russia’s Central Bank and Deposit Insurance Agency in this process and how new legislation has broadened their functions.
They previously wrote an article in the same publication that analysed opportunities which creditors have obtained due to amendments in the Russian Insolvency Law which included special rules regulating the bankruptcy of individuals, appointment of the bankruptcy trustees and new rights for secured creditors. See Bankruptcy in Russia: new instruments of protection of creditors’ rights.
This article was first published in Insolvency Restructuring International, Vol 10 No 1, March 2016, and is reproduced by kind permission of the International Bar Association, London, UK. © International Bar Association.