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BEITEN BURKHARDT organized a business breakfast jointly with German Centre Moscow on the topic "Debt restructuring rules in Russia. Focus: how to protect creditors’ rights"

Moscow, 4 December 2019 – A business breakfast was held at the German Centre in Moscow on 4 December 2019, where Alexander Bezborodov, Anna Lesova, Natalia Bogdanova and Egor Repin (from BEITEN BURKHARDT) spoke in front of 35 participants on the topic "Debt restructuring rules in Russia. Focus: how to protect creditors’ rights".

The speakers focused on the following relevant issues:

1. Legal consequences of the existence of a debt under the law of the Russian Federation

  • Right to suspend the performance of obligations arising from an Agreement
  • Right to terminate an agreement in court or without recourse to the courts
  • Right to pay contractual penalties
  • Reimbursement of damages
  • Tax consequences for the creditor

2. Debt restructuring methods

  • Agreement on new payment terms and conditions
  • Settlement Agreement
  • Payment from a third party
  • Security: suretyship, pledge, independent guarantee
  • Amicable agreement in court proceedings

3. Debt restructuring inside a corporate group – tax aspects

  • Specifics of debt restructuring inside a corporate group
  • Debt restructuring inside international groups

4. Insolvency of a debtor

  • Legal consequences of the commencement of bankruptcy proceedings
  • Inclusion of claims in the creditor claims’ register
  • Monetary claims and non-monetary claims
  • Transformation of non-monetary claims into monetary Claims
  • Register claims and current claims

5. Consequences of the commencement of bankruptcy proceedings for debt restructuring transactions

  • Grounds and legal consequences of challenges of transactions in the event of a debtor’s insolvency
  • Tax consequences for the creditor

The event was followed by a lively discussion, with the speakers answering questions of interest to the guests.


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