“Bankrupt wind: where the procedure and the market are moving” — Ekaterina Mikhalskaya for Forbes
The symbol of the plenary session of the conference "Bankruptcies, Restructurings, corporate conflicts: landmark cases and lawsuits in modern Russia" was the wind rose, which in climatology is determined by long-term observations. Bankruptcy is more complicated: for more than 30 years of its history, modern Russian bankruptcy has experienced "raider, procreditor, fiscal, and continuing trends" without ever entering a clear rut. What kind of wind prevails in bankrupt sails?
Ekaterina Mikhalskaya, managing partner of Prime Advice, stated the need to take into account the time factor to ensure the effectiveness of the procedure for the sale of property of organizations. For example, in the bidding procedures of agricultural enterprises, the law provides for at least six auctions before the property turns out to be in lot form at the usual stage of public offering. But, based on judicial practice, she proposed to speed up the process of selling property to avoid duplicate stages (sale of a single lot of an enterprise and sale of a single lot of an industrial and technological complex) in cases where, in addition to real estate, the bankrupt does not have accounts receivable, trademarks, etc. Here, the initiative of creditors and approval in court of the procedure for the sale of property, for example, through the mechanism of disagreement.