Newsletter: Expiry of Bankruptcy Moratorium
October, 2022 - Russia
On 28 March 2022, the Government of the Russian Federation adopted Resolution No. 497 which introduced a large-scale bankruptcy moratorium starting 1 April. We have already written about the moratorium and the consequences of its introduction for creditors and debtors in more detail here and here.
The legal regulation of the moratorium was established in accordance with Article 9.1 of the Bankruptcy Law and the clarifications set forth in Resolution No. 44 of the Plenum of the Supreme Court of the Russian Federation.
Unlike the bankruptcy moratorium introduced in 2020 due to COVID-19 restrictions, the new moratorium has not been extended, and expired on 1 October 2022. Therefore, all restrictions and advantages provided under the bankruptcy moratorium ceased to apply from this date. At the same time, Resolution of the Government of the Russian Federation of 23 March 2022 No. 442, which rescinds fines and penalties for real estate developers, stays in force until the end of this year.
