RBC | Institute of Bankruptcy:
Key Innovations and Precedent
The bankruptcy institute is now focused on liquidation, states the managing partner of the Law Office "ZASCHITA" Sergey Gaevsky.

"As of today, financial rehabilitation and external management procedures are not considered effective. Only 1% of bankruptcies apply them", - the attorney said.

In many a bankruptcy procedure, debtors have low-liquid or no assets at all, forcing a bankruptcy to end in a liquidation with no debts covered.

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