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ARTICLE · 29 MAY 2015

Legislative Update—International Edition - May/June 2015

Jones Day
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On March 24, 2015, the Russian government enacted new bankruptcy procedures, including amendments to rules governing insolvency cases that involve tax debts.

GlobalInsolvency/Bankruptcy/Re-Structuring
Mark Douglas
Mark Douglas
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Revised Russian Bankruptcy Regulations

On March 24, 2015, the Russian government enacted new bankruptcy procedures, including amendments to rules governing insolvency cases that involve tax debts. Decree No. 265 implements reforms authorized by Order No. 1358-r of July 24, 2014. Among other things, the decree permits greater interaction between the Russian Federal Tax Service ("FTS") and other federal and municipal agencies in insolvency cases where the FTS acts as the government's representative with respect to claims for taxes, fees, and customs duties. Decree No. 265 also allows for a greater exchange of information (electronic and otherwise) between the FTS and other federal and municipal agencies.

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