KEY FACTS OF BANKRUPTCY, INSOLVENCY & REHABILITATION PROCEEDINGS UNDER RUSSIAN LAW -

The main piece of legislation that regulates the activities of parties in insolvency proceedings in the Russian Federation is the Federal Law dated October 26, 2002 N 127-?? titled On Insolvency (Bankruptcy) (referred to here as the Insolvency Law).

A right to petition a court to declare a debtor insolvent is held by the debtor himself, the creditor, the authorized bodies, as well as by employees, or former employees of the debtor, to whom the debtor is in arrears of severance payments and/or wages....