Impact of Sanctions on Formation of the Russian Approach to the Legal Regulation of Cross-Border Insolvency

Abstract

This article is devoted to the analysis of the impact of sanctions and counter-sanctions measures on the formation of the approach of Russian courts to the consideration of disputes in insolvency cases. under the influence of integration processes on a global and regional scale, there is an intensification of foreign economic relations of economic entities from different countries, the interdependence of legal entities is formed within the framework of the international economic process. the active development of international economic activity brings with it not only great profits, opportunities for cost reduction and the development of international communication, but also the most severe crisis phenomena, a great risk of not staying afloat, resulting in a relatively new phenomenon of cross-border insolvency. The author noted the problematic aspects of the impact of sanctions on the consideration of insolvency disputes, including the initiation of bankruptcy proceedings, the inclusion of foreign creditors in the register of creditors’ claims, the recognition and enforcement of foreign judgments. The author studied cases from the latest practice of Russian courts, noted the features of the consideration of insolvency cases involving creditors and debtors of «unfriendly» countries, made conclusions and assumptions about the further development of judicial practice.