Russia strives to upgrade creditors' rights Semen Epshtein

摘要

The collapse of financial markets in 2008 revealed the underlying problems of many Russian companies. The ensuing liquidity crisis and systemic risk showed the importance of effective debt management. The most outstanding example of bad risk management was the failure of a former top 20 Russian bank.In Russian business practice, unpaid debts can be recovered through court proceedings, through a debtor's insolvency procedure or by the reorganisation of the debtor company. However, experience tells us that the picture can change when these mechanisms are implemented.