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FBK Legal on COVID-19 and Bankruptcy Process

In their article for IFRL1000, FBK Legal’s lawyers Alexandra Gerasimova, Angelina Balakina and Anna Aktanaeva focused on the consequences of COVID-19 for the bankruptcy process in Russia. The experts wrote about the principal bankruptcy procedures, cited real-life examples from judicial practice and made an overview of potential changes in the related legislation, for example a possible abolishment of three bankruptcy procedures (supervision, financial recovery and external management) and introduction of a new one (rehabilitation). The article also addresses cross-border bankruptcy issues and contains key practical trends for the near future.