Реструктуризация задолженности: как защитить интересы независимых кредиторов?

Abstract

This article is devoted to the issues of taking into account the interests of the debtor’s minority creditors when approving rehabilitation procedures, both those regulated by the Bankruptcy Law and out-of-court agreements on restructuring. Author analyses the risks for creditors when concluding agreements on restructuring without their participation, as well as the problems of applying the rehabilitation privilege to creditors’ claims resulting from crisis financing. In addition, author considers the problem of coercing the minority by the majority when voting on conclusion of a settlement agreement in a bankruptcy case and analyses the case law of the Supreme Court and arbitration courts on disputes on the approval of settlements. A draft reform of the Bankruptcy Law is also considered in the context of expanding the practice of rehabilitation procedures and protecting the interests of minority creditors.