Amendments of the federal legislation on insolvency (bankruptcy)
On December 11, 2009 the Russian Parliament (the State Duma) passed the Federal Law No. 323 - FZ “On amendment of articles 20.6 and 20.7 of the Federal Law “On insolvency (bankruptcy)” and article 4 of the Federal Law “On amendment of the Federal Law “On insolvency (bankruptcy)”. Certain provisions of legal acts regulating bankruptcy are clarified by this Law.
First, the amount of the fee for an interim trustee is increased by 10 000 roubles. This new rule is applied to situations when the book value of assets of a debtor lies between 100 million rubles and 1 billion rubles and more. Second, the amount of the fee for persons engaged by an external administrator or the bankruptcy trustee in order to support their work is increased from 5 000 roubles to 80 000 roubles. Such an increased fee is applied if the book value of assets of a debtor constitutes from 1 to 3 million roubles.
Third, the provisions of article 20 of the Federal Law of October 26, 2002 No. 127 - FZ “On insolvency (bankruptcy)” will come not come into effect until 1 January 2011. In accordance with these provisions an insolvency officer is subject to professional activity, is engaged in private practice, and is not obliged to register as an individual entrepreneur.
If you need further information on the subject, contact Kristoffer Svendsen.