What are the criteria for the bankruptcy of foreign companies, and can Russian courts initiate the bankruptcy of foreign companies with unpaid debt in relation to a Russian counterparty?
Much of our position was based on the ruling of the Supreme Court of the RF in the Westwalk case (case № А40-248405/2022). We argued that the Supreme Court of the RF in this case did not in fact establish an automatic possibility for the bankruptcy of foreign companies and that the contrasting opinion, which is now widely espoused in the legal community, does not correspond to the position of the Supreme Court of the Russian Federation.
Can the bankruptcy of a foreign company be initiated instead of enforcement proceedings? Isn't this an abuse of rights?
Project team
Partner Evgeny Oreshin, Partner Yury Pugach, Senior Associate Yury Knyazev, Associate Galiya Balgabaeva, Junior Associate Ivan Tebenev and Legal Assistant Elina Galieva.