News date: 25 June 2021
Dmitry Konstantinov, Counsel, Head of Insolvency and Financial Restructuring Practice of Ilyashev & Partners Law Firm in Russia and сoordinator of INSOL Europe in Russia, delivered a report at the Сonference “Bankruptcy 2021: all-or-nothing game”, which was held by Pravo.ru on 24 June 2021 in Moscow.
In the opening speech “Financial Rehabilitation: Expectations After Covid-19 and Bankruptcy Law Reforms” Dmitry spoke about the main lines of the development of bankruptcy law in 2020-2021, the impact of the Covid-19 epidemic and the forthcoming bankruptcy law reform in Russia.
“The impact of Covid-19 on bankruptcy law today is not so much in the growing number of bankruptcies, but in the overall mandated approbation of new concepts, such as a moratorium imposed on satisfaction of the creditors’ claims, – pointed out Dmitry Konstantinov, – The current crisis has made us see how moratorium actually works. And quite unbelievably, this involuntary experience concurred with the discussion of a new bankruptcy law, new rehabilitation procedures”.
The participants of the session discussed bankruptcy in the developed economies, problems facing bankruptcy law in Russia, developments in the work of insolvency receivers, as well as novelties in the tax law.