Bankruptcy of absent or liquidated debtor and simplified bankruptcy procedures

In order to quickly exclude property of companies which actually stopped working from economic turnover so-called simplified bankruptcy procedures are applied. They also can be applied to remove assets of company which undergoes liquidation procedure or whose location cannot be determined. 

To simplify the process of declaring a company insolvent, reduced duration of its conduction is applied. This ensures more favorable conditions for the parties of bankruptcy relationship.

Legal entity’s bankruptcy in simplified manner has following advantages:

  • there is only one stage – bankruptcy proceeding;
  • reduced terms: from 6 to 9 months, whereas the normal bankruptcy process usually takes more than a year;
  • deadline for closing register of creditors’ claims is 1 month instead of two in normal bankruptcy procedure;
  • economy of money.

Thus, simplified bankruptcy procedure can be applied in two following case: when debtor is at the stage of liquidation and when debtor is not present at all, so it is impossible to determine its location. Such procedure helps to get rid of accumulated debts in relatively short period and with minimal costs. 

VALEN specialists are highly experienced in the field of conducting bankruptcy procedure and can provide following services:

  • determine whether simplified bankruptcy procedure is suitable for you as a debtor;
  • conduct all activities under simplified bankruptcy;
  • provide consultation to creditor on issues related to insolvency of absent or liquidated debtor and draw up a debt repayment plan.

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Leading Lawyers

Tatyana Sarycheva
Senior Lawyer
Timofey Moshkov
Senior Lawyer
Kirill Chemlaev
Senior Lawyer
Roman Matyushekov
Lawyer
Maxim Verbov
Lawyer
Ignat Shevchenko
Lawyer
Tatyana Sarycheva
Senior Lawyer
Our specialists
Timofey Moshkov
Senior Lawyer

In 2008 graduated with honors from Moscow State Law Academy.

In 2011 finished postgraduate school of the Moscow State Law Academy and received a PhD in Law.

Since 2015 works as attorney.

More than 5 years of experience as an attorney – arbitration and bankruptcy litigation.

6 years of experience as an inhouse lawyer with specialization in Labor, Contract and IT law.

4 years of experience in the field of international relations (working with international organizations such as the UN, IAEA).

Foreign Languages: English

Senior Lawyer at VALEN Group

Our specialists
Kirill Chemlaev
Senior Lawyer

Law degree in Kutafin Moscow State Law University (MSAL)

Foreign Languages: English

Lawyer at VALEN

Our specialists
Roman Matyushekov
Lawyer

Higher School of Economics (Bachelor’s degree), 2018 – Faculty of Law

Higher School of Economics (Master’s program), 2020 – Lawyer in activities in justice and law enforcement

Over 3 years of experience as a lawyer in foreign law firms

Foreign languages: English

Our specialists
Maxim Verbov
Lawyer

Russian Foreign Trade Academy, Faculty – international law

Foreign Languages: English, French

Lawyer at VALEN

Our specialists
Ignat Shevchenko
Lawyer

Lomonosov Moscow State University, Law faculty

Foreign languages: English

Lawyer at VALEN Group

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