Sergei Bakeshin has talked with Delovoy Peterburg about the main trends of 2019 in the field of insolvency

Among the latest emerging trends of the outgoing year in insolvency is the restriction on the right of creditors affiliated with the debtor to nominate an arbitration manager. The practice is aimed at ensuring impartiality of the arbitration manager and protecting the rights of independent creditors.

As Sergei Bakeshin, Head of Dispute Resolution and Insolvency practice at Maxima Legal, explained to Delovoy Peterburg, one of the first cases using this law was recorded in Tatarstan in early 2018, in the insolvency case of the Kamsko-Ustinsky grain enterprise.

However, the complexity of the situation lies in the fact that the creditor-applicant may be a person who is not formally associated with the debtor, and in the absence of other applicants, the court will not thoroughly check whether there is a connection between the parties in the process. A self-regulatory organisation of arbitration managers (SROs), which nominates an arbitration manager from its members, can also be selected by the court through random selection, the mechanism of which has not yet been approved. “What guides the judge in doing this is one of the secrets of Russian justice”, said Sergei Bakeshin.

To read the full article (in Russian), please see the Delovoy Peterburg website >>>