The decision on the moratorium on bankruptcy entered into force on April 1 and will remain so until October 1, 2022.This decision is applied to citizens, individual companies and all organizations.
According to the government, the moratorium will support companies and citizens in financial difficulties and who are unable to fulfill their obligations due to the application of sanctions against the Russian Federation. Not declaring bankruptcy will provide debtors with the opportunity to cope with their current difficulties, optimise their company’s activity, find new sources of income and strengthen their finances while avoiding the cessation of business and the dismissal of employees.
This measure, together with last March’s measure to suspend the filing of bankruptcy petitions by tax authorities against debtor taxpayers, should give a significant boost to companies in difficulty.