The Russian government has introduced a bankruptcy moratorium with effect from 1 April to 1 October 2022 in respect of all Russian legal entities and individuals (“Persons”) except for certain residential real estate developers. The moratorium is intended to protect Russian debtors against creditors’ claims and provide support for players on the Russian market given the challenging environment they operate in. It applies to all Persons irrespective of their solvency. The key consequences of the…
The Russian Parliament is expected to shortly adopt a draft bill that is now reported in the Russian media as the “law on nationalization”. We expect this draft bill to become law by the end of this week. The key highlights are the following: The draft law introduces the regime of external administration in a Russian company that the court may establish at the request of a board member or the state authorities. By intent,…