New Regulation On Insolvency in the Russian Federation
Since inauguration of Russia’s first bankruptcy law in early 1990-ies, insolvency procedures where routinely used as an instrument of hostile takeovers. Provisions of than-current Bankruptcy law that effectively restricted the right of debtors to appeal decisions of courts on interim issues in the course of bankruptcy proceedings were even held unconstitutional (and thus void) by the Constitutional Court of the Russian Federation...