News date: 14 November 2020
Dmitry Konstantinov, Counsel, Head of insolvency and financial restructuring practice of Ilyashev & Partners Law Firm in Russia, delivered a report at the conference Pravo.ru “Bankruptcy 2020: Regulation and Court Practice”, which took place on 13 November 2020 in Moscow.
In his report “Bankruptcy law reforms in the face of Covid-19 pandemic” Dmitry outlined amendments introduced into European and global bankruptcy law as a result of ongoing coronavirus pandemic. Dmytro highlighted a great number of possible concepts of regulation of bankruptcy law during the current crisis and noted that bankruptcy law, as a rule, gains a great momentum towards development in times of economic downturn.
“Much of Russia’s bankruptcy law, as we know it now, including special regulation of banks’ bankruptcies and a system of regulations on appealing the legal transactions, was amassed as a result of previous crises. Our practice shows that the crisis results in an increase in bankruptcies and greater openness of courts to new legal decisions”, – commented Dmitry Konstantinov.
During the conference, Dmitry Konstantinov also moderated the session “Settlement of complex issues in bankruptcy proceedings”.