Zoya galeeva: russian society has not learned how to use the institution of bankruptcy

Zoya galeeva: russian society has not learned how to use the institution of bankruptcy

According to the judicial department of the Supreme Court for 2020, 72% of enterprises go into bankruptcy from the procedure of external management and financial recovery. The number of financial recovery procedures in the whole country is "within the margin of error" - no more than 2%. For comparison: in the USA, this figure reaches 25%.
"In our community there is no request for financial recovery procedures - debtors are not ready to lose control until the last moment, and creditors, in conditions of financial and economic instability, want to return their money right here, right now," said Zoya Galeeva, Managing Partner of the Distressed Assets Management Center.
Read in full at the following link

©ЦРПА - 13.10.2021