Alexander Ermolenko, head of FBK Legal's corporate practice on to-be novelties in the bankruptcy law

Head of FBK Legal’s corporate practice, Alexander Ermolenko in his interview to Rossiyskaya gazeta commented upon the novelties envisaged by the draft law prepared by the Ministry of Economic Development. So if the salary debts of a company are over 300 thou rubles, the employees can address a court with a claim to recognize the company insolvent. “As this procedure means certain trouble for the debtor, at times it is really easier just to pay. Moreover, according to the Russian law, this can be done at any stage of bankruptcy procedure”, Alexander noted. At the same time, according to the expert, there is no confidence that employees will manage to apply the suggested solution properly. Another crucial point is a rather high share of illegal salaries, Ermolenko notes. So, for employees of such companies the new regulation is unlikely to be very useful: as, according to the law, only recovery of a legal part of salary can be requested, the expert says. “Should these tools be used properly, already now the employees have the tools to pursue justice”, the lawyer summed up.