FBK Legal's Head of Practice Marina Balandina has spoken at the annual conference “Bankruptcy 2019: Practices and Relevant Issues” arranged by the Kommersant publishing house.
At the session titled “Bankruptcy Procedures and How to Prepare for Them” she explained how to fight against unfair practices in bankruptcy. According to Marina Balandina, the elimination of ungrounded claims arising from transactions challenged during bankruptcy is very time-consuming.
“Such elimination may take over six months, which apparently leads to inefficient bankruptcy administration if, for example, majority creditor's claims are eliminated and the decision-making process at the meeting of creditors is thus blocked. Today it is a significant obstacle for the fight against unfair practices,” Marina Balandina said.
Conference attendees discussed the development of bankruptcy procedures, improvement of bankruptcy laws, consequences of bankruptcies for legal entities and individuals, resolution of disputes among creditors, preventive protection of their rights and other relevant issues.