Here are a few words about the bankruptcy process.

The bankruptcy procedure in the Russian Federation is regulated by the Federal Law "On Insolvency (Bankruptcy)" No. 127-FZ dated October 26, 2022 (with numerous amendments). But not only. There are also a lot of judgments of the Supreme Court of the Russian Federation on general bankruptcy issues and on particular disputes.

Before you start bankruptcy proceedings, you need to take a few preparatory steps. First of all, to get a judgment. It is impossible to start a bankruptcy procedure in the Russian Federation without a preliminary judgment. (Bank loans are excluded, including loans from foreign banks).

Secondly, on a state website that publishes information about legally significant events in companies' lives, publish an announcement that you intend to file application for bankruptcy. Only after 15 days of the publication of such an announcement, you may file a bankruptcy application for the company.

Cases involving bankruptcy of companies are heard by commercial courts.