Bankruptcy for foreigners in Russia: A discussion on expediency and criteria
The bankruptcy of foreign companies is one of the brightest examples of modern judicial lawmaking.
Program
Cases on the bankruptcy of foreign companies have been appearing in Russian practice since 2021. However, the recent scientific and practical discussion on the bankruptcy of foreigners has been revitalized by the precedent set by the Supreme Court of the Russian Federation in the Westwalk Case.
The subject has become, without exaggeration, "fashionable" and is a leading topic of discussion on many platforms. We believe that the event we are preparing in this regard will be useful for several reasons.
First, we have experience in handling two bankruptcy cases of foreign companies that stand out from the general trend of practice.
Secondly, we intend to discuss a position that is sometimes unduly glossed over in such discussions: is bankruptcy really an effective universal remedy for foreign companies?
During our webinar, we will discuss:
- What's the latest bankruptcy practice in relation to foreign entities?
- Why, in fact, did the Supreme Court of the Russian Federation reflect in its ruling on the Westwalk Case the inadmissibility of foreign entities’ bankruptcy in Russia as a general rule and a strong "pro-debtor" position?
- Why wouldn’t any creditor pursuing entrepreneurial activities (making a profit) use the bankruptcy mechanism to initiate the process against a foreign counterparty (or would they do so but only as a last resort)?
- Why haven't we been hit by the promised avalanche of foreign bankruptcies in Russia?
- How should a debtor position itself such that it would be impossible to open even a "secondary" bankruptcy against it?
- Q&A
We hope to see you there!