Abstract
This article gives a general description of Chapter III.2 of the Bankruptcy Law and considers the issues related to the moratorium on bankruptcy. Attention is drawn to the changes that have been introduced in recent years in the legislation on bringing to the subsidiary liability of persons controlling a debtor for the inability to pay creditors’ claims in full, as well as the obligation to apply for the debtor and the liability for failure to do so (untimely application). The author, on the basis of the study, concludes that it is necessary to further improve the legislation on the liability of the head of the debtor and other persons in bankruptcy cases.
Highlights
Due to the spread of coronavirus infection from April 1, 2020, the Russian government is entitled, in exceptional cases, to impose a moratorium and establish a period of validity for initiating insolvency cases at the request of creditors
For the first time, such a prohibition in connection with the epidemic of coronavirus was introduced by the Regulation of the Government of the Russian Federation dated April 3, 2020, No 428 “On introducing a moratorium on the initiation of bankruptcy proceedings at the request of creditors in respect of individual debtors” [1]
On the basis of the mentioned Regulation of the Government, the arbitration court returned the applications filed by creditors for the recognition of insolvent debtors who were subject to the moratorium if they had been sent during the specified period of suspension or had been received by the court before the date of suspension, but the issue of acceptance had not yet been resolved
Summary
Due to the spread of coronavirus infection from April 1, 2020, the Russian government is entitled, in exceptional cases, to impose a moratorium and establish a period of validity for initiating insolvency (bankruptcy) cases at the request of creditors. All this is done primarily for the purpose of ensuring stability of the economy of the Russian Federation. For the first time, such a prohibition in connection with the epidemic of coronavirus was introduced by the Regulation of the Government of the Russian Federation dated April 3, 2020, No 428 “On introducing a moratorium on the initiation of bankruptcy proceedings at the request of creditors in respect of individual debtors” [1].
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