Practices
Industries

First introduction of cramdown in Russian Bankruptcy

25 June 2020

In addition to recent measures supporting the economy and preventing spread of COVID-19 a new law No. 166-FZ dated 8 June, 2020 «On amendments to certain legislative acts of the Russian Federation with a view to taking urgent measures aimed at ensuring sustainable economic development and preventing the consequences of the spread of a novel coronavirus infection» was adopted (hereinafter referred to as Law no. 166). Law No. 166 amended regulations provided by the Bankruptcy law with several novels.

Russia’s Supreme Court provides second set of recommendations on case handling in the light of COVID-19

08 May 2020

On April 30, 2020, The Presidium of the Supreme Court of the Russian Federation (hereinafter referred to as “the SC”) adopted the Review on certain matters of judicial practice related to the application of legislation and measures to combat the spread of the novel coronavirus infection (COVID-19) No. 2 (hereinafter “Review”). The release of the second review was known in advance: it was reported on the official website of the SC, and after the release of the first review many unresolved issues remained.