Coronavirus (COVID–19) Russian Bankruptcy Law Developments

Table of contents

• Draft Bankruptcy Law on moratorium
• Further presidential relief measures impacting the Russian market and credit institutions
• Bank of Russia recommendations

Article summary

Restructuring & Insolvency analysis: Last week (23–27 March 2020), Russia’s President Vladimir Putin and Prime Minister Mikhail Mishustin announced measures to stabilise the Russian economy due to the coronavirus (COVID–19) pandemic and recent major ruble exchange rate fluctuations. Not all such measures are self-executing (a number require enacting legislation). It is understood that despite the five day national holiday announced by the President (which started on 30 March 2020), the Duma will be working this week. It is therefore likely that such implementing legislation will be adopted in short order. Written by Timothy Stubbs, Roman Zaitsev, Andrei Strijak and Marina Smirnova, all of Dentons Europe AO.