Federal Law No. 107-FZ, which came into force on May 29, amending the Bankruptcy Code and Article 223 of the Arbitration Procedural Code of the Russian Federation, will make it possible to introduce new rules for the consideration of separate disputes in bankruptcy, which will reduce the burden on arbitration courts in Russia. Head of the Compulsory Collection and Bankruptcy Department of Sberbank Evgeny Akimov said this in St. He stated at the St. Petersburg International Law Forum.
Speaking at the “Bankruptcy 2024: New Trends” session, Evgeny Akimov noted that bankruptcy procedures have become much more complex and more conflictual in the last 10 years.
He noted that the number of disputes considered by arbitration courts is increasing from year to year.
There are constant changes in the relevant legislation. For example, the bankruptcy law has changed 90 times in the last 10 years. As a result, arbitration courts are overloaded.
He emphasized that the new rules regarding the evaluation of separate disputes in bankruptcy cases in Law No. 107-FZ, prepared by the Supreme Court and entered into force on May 29, are important.
Akimov noted that under the new law, creditors submit their claims to the court and the court evaluates them without calling the parties and gives only the valid part of the decision. If any of the creditors is ready to object, the court will personally consider the claims. It is possible to appeal the decision; In this case, you can first ask the court for the justification part of the decision, or the court will decide after receiving the complaint.
Among other changes, courts can now extend procedures, request documents, etc. without summoning the parties. He also stated that he was evaluating the issues.
“These changes will significantly ease the burden on the courts. For example, 90% of decisions regarding the inclusion of receivables were not appealed by anyone, but court hearings still took place and creditors as well as insolvency practitioners or their representatives had to attend the hearings. Resources were also wasted in managing such processes,” Akimov said.
According to a Sberbank representative, a new document under which a state fee must now be paid for the consideration of separate disputes in bankruptcy is also aimed at relieving the burden on the courts.
Akimov stated that the Supreme Court wants to reduce the number of unfounded complaints by introducing state duty.
Head of Sberbank’s Compulsory Collection and Bankruptcy Department believes that easing the burden on the courts will allow judges to devote more time to processes where there is a dispute over the law and make decisions more carefully.