On November 21, Yuri Makhonin, Partner at the Dispute Resolution Practice of Rybalkin, Gortsunyan, Dyakin and Partners (RGD) law firm, took part in the Bankruptcy 2023: Regulation and Judicial Practice conference in Moscow. The event was organized by the Pravo.ru platform.
Yuri Makhonin delivered a presentation titled "Cross-Border Bankruptcies and Bankruptcies of Foreign Companies" as part of the section Pecha Kucha. Immersive Dialogue Between Debtor and Creditors in the Digital Age.
The RGD partner discussed the main trends in cross-border bankruptcy, highlighting most notable cases. Yuri emphasized that the institution of bankruptcy of foreign legal entities in Russia is gaining momentum, where Russian courts find adequate jurisdiction over property on the Russian Federation's territory and the debtor himself. In particular, the RGD partner analyzed the bankruptcy cases of Pandora Consulting LC, Delvenisto Investments Limited, Retail Chain Properties Limited, and other foreign companies in Russia.
In addition, Yuri noted the positive dynamics of the possibility of initiating bankruptcy proceedings against Russian debtors outside Russia and commented on important conclusions for law enforcement practice on the example of bankruptcy cases of Valery Drelle (England), Natalia Pirogova (USA and Russia), as well as the well-known case against Boris Mints and his sons (England).
The session ended with a lively discussion, during which the RGD partner addressed queries about the main trends in transnational bankruptcy proceedings involving Russian entities, cases related to recognizing Russian bankruptcies in friendly jurisdictions (such as the UAE or China), and other related topics.
Rybalkin, Gortsunyan, Dyakin and Partners (RGD), a leading law firm established in 2018, which combines a premier dispute resolution practice and a high-end corporate practice dedicated to complex projects and transactions.
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Our lawyers have worked on the largest corporate deals, investigations and disputes in the history of modern Russia and represented Russian companies in over 170 jurisdictions worldwide.
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