In accordance with the Civil Code of the RF, a commercial organization may be liquidated due to some key reasons:

• under court decision, on the basis of gross violation of current statutory provisions by this organization;
• voluntary decision of a founder or founders of a company on its winding-up;
• in case when an organization was unable to fulfill its financial obligations, the bankruptcy proceedings are initiated towards it.

The Federal Law № 127-FZ dated October 26, 2002 "On Insolvency (Bankruptcy)" prescribes the necessity to publish all significant facts connected with the bankruptcy proceedings towards a concrete commercial company. Today the sources of information, that allow interested parties (companies, IEs) to find out whether the bankruptcy procedure is executed towards their potential and (or) current contractor bankruptcy, are as follows:

• newspaper «Kommersnat’»;
• Unified Federal Register of bankruptcy information;
• journal «Bulletin of the state registration».

Newspaper «Kommersnat’»

In the decree of the Government of the Russian Federation № 1049-r dated July 21, 2008, the specialized gazette meant for obligatory publication of the information on the progress of bankruptcy proceedings, is the newspaper «Kommersant’».

Unified Federal Register of bankruptcy information 

Similar volume of information is to be entered into a special information resource, in terms of which it is gathered, systematized, published and updated all data on the bankruptcy of legal entities in the Russian Federation – the Unified Federal Register of bankruptcy information.

In accordance with the Paragraph 2 of the Article 28 of the Federal Law № 127-FZ dated October 26, 2002 "On Insolvency (Bankruptcy)", the information, that must be placed in such register, is generally available. Thus, the Unified Federal Register of bankruptcy information is an aggregator of information about bankruptcy.

Journal «Bulletin of the state registration»

The journal realizes provisions of the Federal Law of 08.08.2001 № 129-FZ "On State Registration of Legal Entities and Individual Entrepreneurs" and the Paragraph 2 of the Resolution of the Government of the Russian Federation of 19.06.2002 № 438 "On Unified State Register of Legal Entities" concerning ensuring of publication of the data contained in the Unified State Register of Legal Entities (EGRUL), in accordance with the Article 7 of the Law of the Russian Federation of 27.12.1991 № 2124-1 «On mass media».

The journal publishes the data contained in the Unified State Register of Legal Entities in accordance with the Order of the Federal Tax Service of Russia № SAE-3-09 / 355 @ (registered in the Russian Ministry of Justice of 04.07.2006 № 8001), as well as other information, which is to be published in accordance with the legislation of the RF on state registration.

The journal contains the information about intentions of organizations to carry out actions, which require the notification of interested parties, so called legally significant events. These include: voluntary liquidation, company’s reorganization, reduction of authorized capital, acquisition of more than 20% of company’s authorized capital, information on net assets.

The journal publishes the information about the registration actions carried out by tax authorities (data from EGRUL), as well as notifications of tax authorities of the decisions made towards organizations, of removal from EGRUL.

According to 2014 results, the average salary in Russia amounted to 32 629 RUB. (845 USD), the actual growth of wages was insignificant – only +0,7%. According to official average annual exchange rate of The Central Bank, there was a decrease in salaries by 10,5% in dollar terms (945 USD in 2013). In January-December 2014 the inflation level in general across the country exceeded the planned Russian Government expectations and amounted to 7,6%.

At the moment the significant regional differentiation of the wages is observed on the territory of the Russian Federation. Thus the ratio of maximum (Chukotka Autonomous Okrug) and minimum (Republic of Crimea) salary is estimated almost by 5,5 times.

Traditionally, the highest wage is in the Far North regions and equal districts, Moscow and Saint-Petersburg; moreover according to 2014 results, the actual growth of wages in Moscow was positive, as against Saint-Petersburg with a decrease in ratio by 0,1%.

The salary of Moscow residents is 1,5 times more than salary of Saint-Petersburg residents (61 357 RUB. and 40 676 RUB. respectively).

In addition to Saint-Petersburg, the decrease in 2014 wages was observed in other 28 regions of the country. The last place took The Chechen Republic (-3,4%).

In new subjects of the Russian Federation - Republic of Crimea (14 221 RUB.) and Sevastopol (14 333 RUB.) the salaries, if to take into account the recalculation of currencies, are significantly increased, but still considerably less than in Republic of Kalmykia (the closest list region, 19 384 RUB.).

Taking into account the accelerated inflation and difficult economic situation, it is expected that the current year won’t bring good news and the actual wages in the most regions of the country might decrease in the end of the period.