02 October 201509:06
Private bankruptcy claims reach Sverdlovsk Region courts
UrBC, Yekaterinburg, October 2, 2015. First private bankruptcy claims started to arrive in Sverdlovsk Region Arbitration Court; the exact amount is not clear yet, a source inside the court told UrBC. ‘We have already received first claims, an ad hoc committee was set up to process these. Statistical records on personal bankruptcy cases are also expected to be kept,’ the source said. Private bankruptcy legislation came into effect in Russia on October 1, 2015. Under the new law, an arbitration court might institute bankruptcy proceedings for a private individual if their debt exceeds 500,000