Russian Insolvency Law: the Mechanism for the Creditors’ Protection or the Opportunity to Raid the Company (Российское законодательство о банкротстве: механизм защиты кредиторов или возможность для корпоративного захвата?)

Lvova, O.

Автор: Lvova O.
Сборник: European Insolvency Law: Current Issues and Prospects for Reform. Edited by Professor Rebecca Parry
Серия: ISBN 978-0-9570761-6-7
Глава в коллективной монографии
Год издания: 2014
Место издания: INSOL Europe INSOL Europe, PO Box 7149, Clifton Nottingham NG11 6WD England
Первая страница: 15
Последняя страница: 22
Аннотация: Effective insolvency law should provide protection of both creditors’ and debtors’ rights because of its necessity for normal economic development of the country. First of all, due to insolvency provisions creditors should be protected from unfair actions of the debtor who may try to withdraw assets from the indebted company and, therefore, to makewith the result that creditors get nothing back. In case of deliberate bankruptcy the existing legal principle “one ruble equals one voice” may give creditors (who are friendly to the debtor due to an artificially enlarged volume of obligations volume) the opportunity to abuse it during voting at the creditors’ committee. Therefore the committee may take the decision, beneficial for this friendly creditor while the others interests may be harmed. Secondly, insolvency law usually contains mechanisms providing the defense of one creditors’ interests from against unfair actions of another creditors during this so-called “competition of creditors” for the debtor’s assets. The last type of insolvency law functions here concerns the debtors’ protection from unfair actions of creditors and the from third parties wishing to acquire its assets. In Russia, practice demonstrates two opposite ways of insolvency law enforcement, which, on the one hand, can serve as a real mechanism for creditors’ interests protection but, on the other hand, provide a legal opportunity to seize the company.
Добавил в систему: Львова Ольга Александровна

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