Bankruptcy moratorium

In order to ensure economy’s stability in tough circumstances the Government has the right to impose moratorium on bankruptcy. This measure can only be applied in exceptional cases and it does not allow to initiate bankruptcy case. Therefore, if creditor applies to the court during moratorium with aim to declare his/her debtor insolvent, the court will not accept such claim.

Moratorium has following advantages for debtors:

  • Impossibility to declare company or sole proprietor insolvent.
  • No financial penalties for violation of monetary obligations.
  • “Freezing” of penalties on the mortgaged property.
  • Suspension of enforcement proceedings for property penalties.

Who can be subject to moratorium?

Bankruptcy moratorium is automatically applied to all those who are listed in governmental Decree. Therefore, company or sole proprietor is entitled to waive restrictions imposed by authorities and allow creditors to apply for debtors’ bankruptcy. Thus, such measure does not postpone measures that are planned to be executed. In addition, the debtor is still entitled to file for own bankruptcy. 

VALEN specialists are highly experienced in the field of bankruptcy, will provide consultation on all issues related to bankruptcy during pandemic and will provide services on conducting bankruptcy procedure in compliance with requirements of imposed moratorium.

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Leading Lawyers

Valentina Khlavich
Managing Partner
Eduard Ioffe
Dmitry Kofanov
Valentina Khlavich
Managing Partner

Law degree in the Russian Federation

Studied at the University of Passau, Germany

Foreign Languages: English, German

Since 2007 a lawyer in Beiten Burkhardt lawfirm

Since 2012 founder and managing partner at VALEN

Our specialists
Eduard Ioffe

Graduated Moscow State Law Academy under name of O.E. Kutafin (MSAL) in 2012

Foreign languages: English, Latvian

Experience since 2012 – in legal consulting, banking, private equity and sports law

Since 2021 – Head of legal in VALEN

Since 2022 – Partner/Head of legal in VALEN

Our specialists
Dmitry Kofanov

Certified Lawyer in the Russian Federation

Experience since 2003 – in Russian and foreign law firms

Since 2021 – partner at VALEN

Our specialists

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