Moratorium on bankruptcy extended

article 24/11/2020

According to the Order of the Government of the Russian Federation No. 1587 dated 01.10.2020, the delay in initiating of bankruptcy cases on creditors' applications was extended until January 7, 2021. We have already informed about moratorium on bankruptcy and its consequences in our article dated 27.07.2020.

It is worth reminding that moratorium covers the companies and individual entrepreneurs, the main activity code of which is specified in the list of Russian economy industries the most affected by the coronavirus infection. The list was approved by the Order of the Government of the Russian Federation No. 434 dated 03.04.2020.

The list is available in «Lists we recommend» of the Information and Analytical system Globas. Currently there are more than 2,1 million of companies and individual entrepreneurs in the list.

As before, during the moratorium the judicial installment obtained by the decision of the arbitration court is available for the companies and individual entrepreneurs. The installment involves change in payment terms for overdue tax liabilities and termination of enforcement proceedings on property penalties.