Russian Prime Minister Mikhail Mishustin instructed the Ministry of Economic Development by April 1 to prepare a bill introducing a moratorium on filing bankruptcy petitions, the corresponding order was published on the Cabinet’s website.

“In addition, the Ministry was instructed to expedite the approval and submission to the Russian government of a draft federal law introducing a procedure for restructuring the debts of organizations.

While the bills are not ready, the head of government recommended that authorities not initiate bankruptcies of enterprises that have debts to regional budgets and credit organizations.

Mishustin also instructed to finalize the second reading of the bill “On Amendments to the Federal Law” On Insolvency (Bankruptcy) “regarding the extrajudicial bankruptcy of a citizen.”

The bill, which is already under consideration by Parliament, introduces a simplified free debt settlement procedure for citizens with low incomes and insufficient property to pay off debts”. Link

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