Press centre News

8
October
2018

Has COR suffered from the owner’s reputation?

Central Bank has already issued to the management of COR Bank a prescriptive order because of "unsatisfactory business reputation" of the legal entities and individuals related to it, one of the telegram channels writes. Further, if individuals may feel secure about their deposits of up to 1.4 million roubles, entities may lose a part of their monies and may have their payment orders "frozen". They will only be the third-priority creditors, i.e. the last-priority creditors.

Volgograd Pravda.Ru
13
March
2018

Supreme Court explained the bringing of ultimate beneficiary to secondary liability

The Supreme Court noted that, as a general rule, beneficiary conceals its influence on debtor; therefore, indirect evidence may indicate the bringing to liability

Advocate newspaper
13
December
2017

A company's general director will be responsible for its debt

On December 8th, the Constitutional Court of Russia (CC) published a resolution in which it confirmed the legitimacy of decisions made by the courts that sought to recover corporate debt from company managers. However, in order to penalize someone in the position of general director in this fashion, the court must first exhaust all possibilities to recover the debt from the legal entity, then exclude the legal entity from the relevant register, and only then require that a company manager personally return the debt. 

Moscow's comsomolets
8
November
2017

What the ideal client for a lawyer looks like

Lawyers often get into disagreements with their clients. There can be many reasons why these kinds of conflicts can arise, from inflated expectations to disagreements about money. How can these difficulties be avoided? Who is to blame, and what can a lawyer do if disputes have already arisen?

Pravo.ru
6
June
2017

Lawyers vs. Banks: should the bankruptcy law be changed because of people who dodge loan payments?

Increasingly, Russian citizens are declaring bankruptcy to avoid their credit obligations. Bankers, concerned about this trend, spoke out in favor of stiffening the penalties for unscrupulous debtors during bankruptcy proceedings, as well as expanding the list of justifications for them to refuse to write off debts. Representatives from the legal community believe that this is not necessary: the list is already extensive enough, and in their opinion only legal practice, which is gradually taking shape on this issue, can turn the tide. At the same time, lawyers have many questions for the banks themselves because, in their opinion, they do a bad job at checking loan recipients.

Pravo.ru
1
March
2017

One grain trader will be kept under scrutiny

The Rostov Region Arbitration Court started bankruptcy monitoring procedures with respect to one company in Taganrog, Beliy Dvor T LLC. The reason for this was debt in the amount of 44 million rubles. The grain trader, which has an annual turnover of more than 2 billion rubles, is simultaneously trying to recover debt owed to it from business partners. Their overall size, according to court records, exceeds 400 million rubles. The company’s director, Artyom Yakushevskiy, has declared its intention to repay its debts and avoid bankruptcy.

Gorod N
12
January
2017

Lawyers explain important legislative changes that occurred last year

Lawyers have identified and commented on some important legislative changes that took place in 2016. Among these, for example, are the specifics in the application of the ICA Act, new aspects of restructuring in bankruptcy, and the possibility to sue an employer at a distance.

Pravo.ru
2
December
2016

Business on the property of bankrupt enterprises

Property of bankrupt enterprises is put up for auction in order to pay off debts to numerous creditors and former employees. Has anyone thought about what happens to the property of the bankrupt, after it is put up for auction? The simplest answer is – someone buys it. However, things are not so simple here. It turns out that buying the assets of a bankrupt – is also a business! And a very attractive one. But at the same time risky.

The right on business
28
April
2018

Amicable agreements: how to seek for their conclusion in the Russian courts

According to the statistics of the Judicial Department, in 2017, 8% of arbitration disputes (taking into account the appeal and cassation proceedings) and 2.6% of cases in the general jurisdiction courts only were settled by approval of amicable agreements. Why do the parties in judicial disputes solicit a truce so rare? In which cases and at what stage it is easier to reach a compromise? How should the institution of amicable agreements in Russia be reformed in order to make it more efficient? The lawyers, based on their work experience, told about it to Pravo.ru.

Pravo.ru
26
December
2017

The Supreme Court: on justice, liens, and bankruptcy

Do lien rights apply to unregistered real estate, and specifically in what cases? When does a company director need to announce that a company has gone bankrupt so that he or she is not suspected of bad faith? When can banks initiate bankruptcy proceedings without a court order, and can the courts check a lease agreement to make sure that it is equitable? Pravo.ru put together an overview of the positions taken by the Supreme Court Economic Chamber over the past year 2017 that mean the most for business.

Pravo.ru
11
December
2017

Five decisions made by the highest court

Does the right to pledge arise when the real estate is unregistered? When does a company director need to announce that the company has gone bankrupt? The Russian Federation Supreme Court spoke out about these issues and many others.

RBC
29
June
2017

The Constitutional Court deemed legitimate the provision in the Code of Administrative Offenses concerning the mandatory disqualification of insolvency receivers

An insolvency receiver made two mistakes that deprived her of the right to continue her activity for six months. During the appeal, the “trinity” of judges all of a sudden had doubts that the punishment was fair, and so they turned to the Constitutional Court. What came out of that can be read in the materials on the Pravo.ru website.

Pravo.ru
12
May
2017

The Supreme Court spelled out a procedure for verifying arbitrage relating to fictitious debt

If bankruptcy is initiated on the basis of a dubious ruling made by an arbitration court, then it cannot be contested in the framework of the bankruptcy case. The court that issued the enforcement order must be petitioned. That was what one creditor bank did. But its petition was rejected because the court of cassation could not delve into all the relevant circumstances. This vicious circle was broken by the Supreme Court Judicial Chamber on Economic Disputes.

Pravo.ru
8
February
2017

In Volgograd, they are tinkering around with a plant's bankruptcy

The plant Khimprom in Volgograd, which has not had a bankruptcy trustee since the end of November last year, will remain in the same situation until February 20th at least. This was the ruling delivered by the regional Arbitration Court, despite protests from the plant’s workforce representatives and the majority of its bankruptcy creditors.The workers themselves, who call themselves hostages of the dispute between creditors, are not getting their salaries.According to experts, the plant workers are virtually deprived of the possibility to defend their rights until a trustee is approved. The legal conflict lies in the fact that the plant’s largest creditor, Nizhnoatomenergosbit, is also under observation, and has been temporarily deprived of a trustee by court order. Plant workers attempted to get an appointment with the chairman of the Arbitration Court, but their efforts were ignored, and a representative from Khimprom’s management announced that the plant will appeal the judge’s actions through the prosecutor’s office. Details in materials from RIA FederalPress.

FederalPress
22
December
2016

Lawyers commented on the review of bankruptcy practice of the Supreme Court

The representatives of the legal community, at the request of the editorial board Pravo.ru, analysed the 40-page review of jurisprudence published by the Supreme Court on issues related to participation of competent authorities in bankruptcy cases. Despite the fact that the Supreme Court’s summary is mainly concerned with the participation of the tax authorities in the bankruptcy proceedings, it also provides important clarifications aimed at making the practice of general bankruptcy more orderly, say the lawyers.

Pravo.ru
30
November
2016

Earning money offshore

Business needs to choose – return to Russia or hide even deeper the funds accumulated abroad

Vedomosti
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