Ministry of Economic Development of the Russian Federation
Ministry of Economic Development of the Russian Federation
Ilya Torosov: bankruptcy procedure will be as convenient as possible
28 August 2020 15:44

The enactment of law on out-of-court bankruptcy procedure will allow this process to take place "as conveniently, quickly and clearly as possible". This was stated by Deputy Minister of economic development Ilya Torosov at a seminar on preparing the procedure to be introduced. He noted that it is "a new milestone in the bankruptcy history." The Ministry of Economic Development has been working on simplifying the bankruptcy procedure for citizens for more than two years.

The law on out-of-court bankruptcy procedure was signed by Russian President Vladimir Putin on July 31 and comes into force on September 1. A citizen will be able to apply to the centers of public services to declare bankruptcy out of court. After verification activities an employee of the centre takes the decision to initiate the procedure. The MFC test system was launched two weeks ago.

State Secretary – Deputy Minister of economic development Alexey Khersontsev also spoke at the seminar and noted that " the MFC role in providing information support to applicants, in proper consultation and explanatory work is increasing. To do this, the Ministry of Economic Development has sent detailed instructions to the regions on how to implement the new powers."

According to Ilya Torosov, the new simplified system "will make it possible to conduct bankruptcy proceedings without problems, turn this terrible page and get a second chance in life."

The point at issue are conscientious citizens who find themselves in a difficult situation for various reasons. Relief of crippling debts is of great social significance. Often, they find themselves in a grey area, and the new procedure allows them to get out of it.

Citizens with a debt of up to 500 thousand rubles, in respect of which enforcement proceedings have been completed, will be able to use the procedure.

Дата публикации: August 28, 2020
Ссылка: https://en.economy.gov.ru/material/press/official_position/ilya_torosov_bankruptcy_procedure_will_be_as_convenient_as_possible.html
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