The growth of corporate bankruptcies in Russia has not reached the covid level.
The negative forecast of a significant increase in the number of corporate bankruptcies in the country in 2021 did not justify itself, since their growth was insignificant over the past year. Among the leaders were the branches of trade, construction and real estate operations.
Karina Sidorova, Head of the Crisis Management and Bankruptcy Practice of the Duvernoix Legal law firm, connects the dynamics of the number of bankruptcies of legal entities with the inefficiency of the procedure itself. "According to the Unified Federal Register of Bankruptcy Information, in 2021, the percentage of satisfaction of creditors' claims constitutes 2-3%, that is, the vast majority of creditors receive almost nothing, while they are obliged to finance the debtor's bankruptcy procedure at their own expense. The need to improve the effectiveness of the procedure is also discussed at the legislative level - while considering the reform of bankruptcy legislation for many years," noted Karina Sidorova.