I got this notice from a bankruptcy practitioner with the international firm of Salans (offices in France, United-Kingdom, Germany, Spain, USA, Poland, Russian Federation, Hungary, Ukraine, Czech Republic, Slovak Republic, Romania, Kazakhstan, Azerbaijan, Turkey, China) regarding the most recent changes to the bankruptcy laws in Russia.  This report states: “Readers will recall, on December 30, 2008 the RF Duma had substantially amended the Bankruptcy Law, introducing comprehensive changes including on administrators, taxation issues, enforcement of security and distribution of proceeds, priority of claims and other matters.  Though the present changes are far narrower, they touch on critical issues and should provide lenders with greater remedies against abusive debtor management practices.”

Here is a link to that law firm’s report on the changes: http://media.salans.com/alerts/200905-RussiaBankruptcyLawAlert.pdf

Michael