The State Duma of the Russian Federation has passed in the second and third readings a law to increase the minimum debt amount required to initiate bankruptcy proceedings for companies from 300,000 to 2 million rubles.
The amendments propose expanding the list of situations in which courts can make decisions without holding a hearing and issue only the operative part of rulings. This option is proposed to be extended to disputes over the inclusion of creditors' claims in the register, the release of a manager at their request from imposed duties, and the distribution of court costs. The document specifies that in case of appealing a court decision made in this manner, the court will be obliged to provide a reasoning part.
According to the law, arbitration managers will be able to request information about the debtor, their counterparties, and spouse without prior recourse to the court. Similar powers will be granted to financial managers. The court will consider such requests without holding a hearing. The amendments will also change the procedure for approving the manager's fee. If the amount of interest is less than 100,000 rubles, the manager will be able to calculate it independently. The court will decide on the remuneration amount up to 1 million rubles without holding a hearing, and above 1 million rubles - during a court session.
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