Thursday , 18 May
16:25 - 17:40
Hall #1, General Staff Building (6-8, Dvortsovaya sq.)
Track: International Insolvency Forum
Organizer of the discussion session – Ulmart
The world economic crisis and the sanctions with regard to the RF have resulted in a sustained crisis in Russian economy. This has entailed sharp increase of insolvent companies.
According to statistics, a great number of insolvent companies, unfortunately, get into the bankruptcy procedure and are then liquidated. The procedures of asset restructuring aimed at restoring the solvency are quite seldom applied due to the low corporate culture and lack of liquidity of the bank system. As a consequence, there are a lot of “offended” creditors, which, in its turn, results in growth of conflicts evolving into the plane of criminal legal relations.
Today at the time of intensive development of civil and administrative legislation on bankruptcy the criminal legislation of the RF undergoes no substantial changes, which results in practical impossibility to apply special norms of the Criminal Code of the RF regulating relations in bankruptcy of entities. As a result, investigative agencies apply the general norms of the Criminal Code of the RF within the frames of economic crimes, which results in unfounded prosecution of representatives of business and protraction of bankruptcy procedures. As a result, the assets of insolvent companies “get hanged up” and are not involved in the economic turnover of the RF for a long time, which causes considerable damage to Russian economy.
The task of a national legislator is to strive to improve the criminal legislation of the RF, to bring it closer to the real economic situation in the society, which is certain to have a positive impact on the corporate culture of business in the RF.
The major issues to be covered:
Advocate, Senior Managing Partner, Pen & Paper
Head of Legal Department, The Ministry of Internal Affairs of the Russian Federation
Lawyer, Partner, Head of Criminal Law Practice, attorneys at law Pen & Paper
Chairman of the Board, Ulmart
Senior Partner, Anti-crisis Consulting Group, FUKAU
* The Programme may be subject to change