“Review. The Future of Electronic Auctions in Bankruptcy Cases” — Ekaterina Mikhalskaya for Fedresurs
Experts at the "Bankruptcies. New Reality" forum session "Electronic Auctions: Faster, More Profitable, More Reliable", organized by Fedresurs and Interfax, discussed how to combat auction violations, improve their efficiency, detect manipulations, counter procedural delays, and most importantly - sell more assets at better prices.
Preparation for asset sales should begin practically immediately during inventory, not at the auction stage, says Ekaterina Mikhalskaya, Managing Partner of Prime Advice Law Offices.
Large enterprises hire specialists for this. These should be people from the same team as those who will later conduct valuations for auctions. They understand the specifics and potential buyers for each asset. This avoids duplicate questions and document requests,
— she notes.
According to Mikhalskaya, accounts receivable represent the type of property that can be sold faster - immediately through public offering without auctions.
There's no point selling them at initial or repeated auctions. Current court practice consistently follows this approach, and we should utilize this tool. Our task as practitioners isn't to be formalists, but to establish practices where the law doesn't explicitly provide but doesn't prohibit either. We need to create tools that help make bankruptcy procedures more effective,
— she concludes.
