Sergei Bakeshin has talked to RBC about the use of a rare insolvency mechanism
RBC Pro published a review on the use of an asset replacement mechanism as part of the insolvency procedure, which allows for the transferring of shares in companies specially created on the basis of the property of the debtor to creditors.
Head of Dispute Resolution and Insolvency Practice at Maxima Legal Sergei Bakeshin told RBC Pro that he had encountered an attempt to use this tool only once. “But the real goal of the majority creditor was not to replace assets, but to delay the insolvency case”, Sergei explained.
To read the article in full (in Russian), please see the RBC Pro website >>>