Sergey Bakeshin has provided his comments to Delovoy Peterburg on insolvency statistics for the current year

Sergei Bakeshin - Counsel

Delovoy Peterburg has analysed the total number of court decisions on the insolvency of legal entities in Russia over the past nine months. By comparison with the previous year, the number of insolvencies in St Petersburg has increased by 2%. On the basis of industry, construction companies were the most common legal entities to be made insolvent.

Head of the Dispute Resolution and Insolvency Practice at Maxima Legal, Sergey Bakeshin, commented to Delovoy Peterburg that, “insolvencies continue to be dominated by companies from the construction industry, at the same time, an increase in the number of insolvent banks and car dealers is notable. Since there are far fewer such companies in the economy than, for example, construction companies, these increases have little effect on the total number of insolvent companies. Nevertheless for the statistics in of the relevant industry, these insolvencies have a strong effect.”

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