New bankruptcy law can be passed in spring session, says First Deputy PM
Bankruptcy legislation was formed in early 2000s and no systemic changes were made since then, he said.
The State Duma, the lower house of the Russian diet, can pass the new bankruptcy law during the spring session, First Deputy Prime Minister Andrei Belousov told reporters on Wednesday.
"I would like to stress the law is of revolutionary nature and we hope it will be passed during the spring session," the official said.
Bankruptcy legislation was formed in early 2000s and no systemic changes were made since then, Belousov said. "Plenty of pinpoint changes were introduced since then, more than a hundred. However, it has not changed systemically. Certainly, such legislation has become extremely obsolete over 20 years," he noted.
The new law has been developed for a long time, Belousov noted. "A lot of organizations, stakeholders took part in its development, including the association of goods producers, the banking community, and so on. I can say now amendments to laws amount to about five hundred pages in total. Certainly, it covers plenty of interests," he added.
Source: https://tass.com/economy/1255017
The State Duma, the lower house of the Russian diet, can pass the new bankruptcy law during the spring session, First Deputy Prime Minister Andrei Belousov told reporters on Wednesday.
"I would like to stress the law is of revolutionary nature and we hope it will be passed during the spring session," the official said.
Bankruptcy legislation was formed in early 2000s and no systemic changes were made since then, Belousov said. "Plenty of pinpoint changes were introduced since then, more than a hundred. However, it has not changed systemically. Certainly, such legislation has become extremely obsolete over 20 years," he noted.
The new law has been developed for a long time, Belousov noted. "A lot of organizations, stakeholders took part in its development, including the association of goods producers, the banking community, and so on. I can say now amendments to laws amount to about five hundred pages in total. Certainly, it covers plenty of interests," he added.
Source: https://tass.com/economy/1255017