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"The Supreme Court simplifies bankruptcy of absent debtor". Commented by Alina Manina for
30 июня 2021 г.

The tax authorities decided to bankrupt the debtor under the simplified procedure as absent because he had no assets and the firm was not carrying on business. But the three courts decided that the FTS had to prove that the location of the head of the legal entity was unknown. The Supreme Court disagreed: it pointed out that for bankruptcy of an absent debtor only one ground is sufficient. Experts believe that the SCEC's position will reduce the number of unjustified refusals to introduce simplified bankruptcy procedures.

Author: Manina Alina, Advisor, Deputy Managing Partner, Head of Bankruptcy Support Practice.