10.3. Insolvency of the Wealthy: A Secret Behind Foreign Assets

Friday, May 21
13:30 - 15:00

Channel 2
BROADCAST
Live Stream

Track: 10. Insolvency
Discussion session

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The session will focus on the problems of searching for assets in foreign countries. This topic grows in popularity every year, as it is becoming more and more difficult to use internal resources to improve the efficiency of collection. Therefore, creditors inevitably turn their attention to external sources: the property of debtors located abroad. This topic is timely and relevant all over the world that is becoming more and more transparent in terms of access to information. However, despite the great interest in these issues, there have not been many positive examples of successful information search and its further competent use with the purpose to increase the effectiveness of recovery. What are the reasons for this and is it possible to change the situation for the better? We will try to answer these questions during the session.

The session is intended to address the following range of issues:

  • when it is appropriate to search for a debtor's assets in other countries;
  • optimal algorithms for obtaining information about assets;
  • what to do with the information obtained and how to use it correctly;
  • whether digital assets can be foreclosed;
  • how costs should be distributed when searching for a bankrupt debtor's international assets.

Among participants of the sessions there are representatives of professional creditors, experts in the field of financial investigations, insolvency administrators, and international experts who specialize in searching for information about assets.

Moderator

Evgeniy Akimov

Head of Enforcement and Bankruptcy Division, Department of Distressed Assets, SBERBANK

Speakers

Andrey Egorov

Professor at the Faculty of Law, National Research University «Higher School of Economics»

Stephan Madaus

Professor of Law, Martin Luther University Halle-Wittenberg

Edward Olevinsky

Chairman, «Olevinsky, Buyukyan and Partners» Bureau of Legal Affairs

Biography

More than 20 years of professional expertise.

Member of the Central Council of Selfregulated organization of bankruptcy administrators «Interregional Experts and Professional Managers centre» Association.

Edward Olevinsky manages the Committee for Financial Assurance in Bankruptcy Proceedings of the National Association Russian Union of Self-Regulated Organizations of Bankruptcy Administrators.

Furthermore, he is a member of the Crisis Management and Outstanding Debts Subcommittee of the Business Security Committee of the Chamber of Commerce and Industry of the Russian Federation.

In 2017, Edward Olevinsky was ranked among the leading bankruptcy attorneys according to Kommersant Publishing House. Besides, that same year, Edward Olevinsky was mentioned in the international rating The Best Lawyers as one of the best Russian lawyers in the category “Insolvency and Reorganization Law”.

He is the author of numerous publications and monographs on insolvency and legal regulation of business operations, permanent reviewer of the leading business papers, radio stations, and TV channels.

Teresa Rodriguez de las Heras Ballell

Professor of Commercial Law at Carlos III University of Madrid, Counsel at Andersen, Judge at the Court of Arbitration in Madrid


* The Programme may be subject to change