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A draft law ‘On amending articles 126 and 134 of Federal Law “On insolvency (bankruptcy)”’ has been put before the State Duma. The draft law was triggered by Resolution No. 4-P of the Russian Constitutional Court dated 1 February 2022, adopted following a claim of PJSC T Plus which was drafted by Pepeliaev Group’s bankruptcy and anti-crisis protection of business Practice.

The Russian Ministry of Finance has published Official clarifications No. 1 relating to the implementation of Decree No. 618 dated 8 September 2022 as formalised in Letter No. 05-06-14RM/99138 dated 13. October 2022.

The Russian Government has determined the procedure for the Government Commission on Monitoring Foreign Investment in the Russian Federation (the ‘Government Commission’) to issue permissions for transactions (operations) with respect to membership interests in Russian LLCs involving non-residents (persons they control) from hostile states.

Public discussions are being held of the draft amendments to the List of goods (groups of goods) to which the provisions do not apply of articles 1359(6) and 1487 of the Russian Civil Code, provided that these goods (groups of goods) are released into circulation outside Russia by right holders (patent holders) or with their consent. The List was approved by Order No. 1532 of the Russian Ministry of Industry and Trade dated 19 April 2022.

Starting from 8 September 2022, Decree No. 618 of the Russian President dated 8 September 2022 has established new requirements for completing transactions (operations) the subject matter of which are membership interests in the charter capital of Russian limited liability companies (LLCs).

The State Duma has adopted in the first reading a draft law  that enables companies classified as small and medium-sized enterprises that meet a number of criteria to terminate their activity in accordance with a simplified procedure without undergoing a lengthy procedure of voluntary liquidation.