PRObankrotstvo: Bankruptcy Petition After Tax Authority Collections

According to PRObankrotstvo, Level msk LLC intends to apply to the Moscow City Commercial Court for its own bankruptcy following collections by the tax authorities.

Vladislav Korneychuk, Head of Practice at FBK Legal, notes:

Concurrently, Level msk is entitled to initiate its own bankruptcy; nonetheless, it must be taken into account that the existence of an already filed application by the Federal Tax Service Directorate is of significant procedural importance. The law provides for several applications to declare the same debtor bankrupt to be considered in the order in which they are received by the court, and where there are several applications, the candidate for interim manager is determined taking into account the application received first (cl. 9, article 42 of the Bankruptcy Law).