Hazardous bankruptcy - News - Infralex

Hazardous bankruptcy


Infralex partner Artem Kukin has taken part in a traditional research of the Russian legal market, undertaken by the newspaper “Vedomosti”. The results have published today in the review “Legal Money” in the special category “Legal services business”. This year the subject of the research is the crisis and new legislations effect on the law firms. In particular lawyers noted the most hazardous laws adopted recently. According Artem Kukin, “Hazardous rules” include the banks’ right to issue of bankruptcy proceedings against their debtors without a preliminary suit for debt recovery (now the courts allow not only banks but other persons to follow this similar procedure). Moreover a requirement to every legal entity to know its beneficiaries and disclose the information about them can be also considered as a “touchy” rule.