Zaitsev, Oleg R. --- "RUSSIA" [2019] ELECD 1218; in Kadner Graziano, Thomas; Bojars, Juris; Sajadova, Veronika (eds), "A Guide to Consumer Insolvency Proceedings in Europe" (Edward Elgar Publishing, 2019) 837

Book Title: A Guide to Consumer Insolvency Proceedings in Europe

Editor(s): Kadner Graziano, Thomas; Bojārs, Juris; Sajadova, Veronika

Publisher: Edward Elgar Publishing

Section: Chapter 27

Section Title: RUSSIA

Author(s): Zaitsev, Oleg R.

Number of pages: 38

Abstract/Description:

The first post-Soviet Russian Bankruptcy Act was adopted in 1992 and only provided recourse to insolvency proceedings for private entrepreneurs, and not for consumers. New draft amendments to the Bankruptcy Act which propose the introduction of a simplified consumer bankruptcy procedure for debtors without assets or with very few assets are under discussion. This change has been much awaited by debtors, but not by banks which have been worried about the impact of such provisions on debtors committing fraud.