Friday, May 21
11:30 - 13:00
Track: 10. Insolvency
The concept of 'manageable insolvency' is unfortunately not something unusual for Russian insolvency law and is increasingly being used to denote abuse of rights in insolvency proceedings by those who have the power to determine the fate of a debtor at a creditors' meeting. This is made possible, in part, by the fact that Russian insolvency law de jure is extremely pro-creditor: it is up to creditors to decide what procedure will be imposed on the debtor, who will be the trustee in insolvency and how the imposed procedure will be conducted. This has led to fierce battles to win a majority of votes at creditors' meetings. On the other hand, it was the abuse of 'manageable insolvency' that became a serious driving force in the development of Russian insolvency law. In particular, such an institution as subordination of creditors' claims in insolvency emerged in Russian insolvency law, as these proceedings were often de facto controlled by the debtor or its affiliated persons under formally pro-creditor regulations.
The panel will discuss how Russian insolvency law is changing in the fight against manageable insolvency, how minority creditors can already be protected today, and what changes are needed to eliminate the negative connotations of the term 'manageable insolvency'.
The discussion session invites to discuss the following questions:
All of these questions will be discussed by the panelists - insolvency experts and practitioners from Russia and abroad.
Associate Professor of the Department of Commercial Law and Procedure at the Russian School of Private Law of S.S. Alekseev Private Law Research Centre under the President of the Russian Federation, Ph., Founder and Supervisory Board Member of the Insolvency Club
Partner, KPMG Law. KPMG in the CIS
Attorney-at-Law, CMS Switzerland
Attorney, Independent Law Office, Rechtsanwalt
Head of the Legal support Methodology Department of the Office for Legal support for Corporate Lending and Settlements Unit, PJSC CREDIT BANK OF MOSCOW
Attorney, Managing partner of Independent Legal Group «Strizhak & Partners»
Attorney, Andrey Gorodissky and Partners
Head of Legal support for Corporate Lending and Settlements Unit, PJSC CREDIT BANK OF MOSCOW
* The Programme may be subject to change
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