Sergei Bakeshin has analysed the amendments to the Bankruptcy Law for EJ-Jurist magazine

Sergei Bakeshin - Counsel

A draft law amending Articles 126 and 134 of the Bankruptcy Law has been submitted to the State Duma. They relate to the result of the review by the Constitutional Court of the Russian Federation of a complaint filed by T Plus PJSC concerning legal uncertainty in par. 2(1) of Article 134 of the Bankruptcy Law. The ruling of the Constitutional Court recognised the said provision of the law as inconsistent with the Constitution of the Russian Federation because it does not provide the necessary degree of certainty and promptness in deciding the existence of circumstances under which termination (or reduction of costs), including those arising in the ordinary course of business, may create a real threat of man-made and/or environmental disaster.

Sergei Bakeshin, Head of Dispute Resolution & Insolvency practice at Maxima Legal, analyzed whether amendments to the Bankruptcy Law will add clarity with respect to extraordinary payments specifically for EJ-Jurist magazine.

To read the full article (in Russian) please visit EJ-Jurist magazine website >>>