Consumer Insolvency. Protecting Rights and Legitimate Interests of Individuals During Debt Collection

Thursday , 18 May
17:50 - 19:00

Hall #1, General Staff Building (6-8, Dvortsovaya sq.)

Track: International Insolvency Forum

Description

The declaration of personal insolvency is a widespread method to settle personal debts, practiced world-over. Personal insolvency is handled differently from country to country, but the point is always the same: to rid the individual of their debt burden and re-launch their financial affairs with a clean slate. This settlement vehicle benefits the debtor and the creditor alike. Personal bankruptcy is organized so as to heed the interests of all creditors while granting no seniority to any particular debts or lenders.

The vehicle of personal insolvency furthermore protects the debtor from illegal acts on the part of the lender’s agents, the so-called collectors, who may be inclined to bullying and may occasionally act outside the law. In many countries, the business of debt collection is subject to a dedicated corpus of regulations.

What are the bedrock regulatory principles on personal insolvency and debt collection, country to country? How has the new Russian debt collection law been doing on the ground? How has the practice of personal insolvency fared so far?

Moderator

Dmitriy Skripichnikov

Deputy head of the Economic Division, State Duma

Speakers

Michael Gerber

Professor of Law, Brooklyn Law School

Nikolay Podguzov

The Deputy Minister, Ministry of Economic Development of the Russian Federation

Sergey Seleznev

Counsel, VTB 24

Ruenvadee Suwanmongkol

Director-General, Legal Execution Department, Ministry of Justice of Thailand

Aleksey Yukhnin

Director for Development of Projects, Interfax Information Group

Oleg Zaytsev

Consultant, Research Center of Private Law named after Sergey Alekseev under the President of the Russian Federation


* The Programme may be subject to change