Bankruptcy is a complicated process for recognising a debtor entity insolvent. It can be initiated by:

  • creditors,
  • debtor entities,
  • competent authorities.


Claims seeking to rule a company bankrupt are heard by Russian arbitrazh courts. The procedure is governed by the rules of the Arbitrazh Procedural Code of Russia and Federal Law No. 127 «On Insolvency (Bankruptcy)» and consists of the following stages:

1. Preparation and filing of documents with an arbitrazh court.

2. Issuance of a court ruling accepting the bankruptcy claim for hearing.

3. Court hearing where the courtwill examine the legitimacy ofthe bankruptcy claim. The relevant legal entity (debtor) may then be subjected to the following procedures:

  • monitoring,
  • financial rehabilitation,
  • receivership.

Lawyers of Paradigma will be able to give detailed advice on each of these stages. In addition, the parties have the right to enter into a peaceful settlement of bankruptcy claims.

A wise and timely use of the mechanisms afforded by the law may serve to restore solvency and free the company from its debts. This is why it is so important for bankruptcy cases to be handled by qualified professionals.

4. In the event of the debtor company being ruled insolvent, bankruptcy proceedings will be initiated, a procedure which entails formation of the debtor’s bankruptcy assets and subsequent public sale.

5. Review of the receiver’s report by court. Issuance of a ruling on completion of bankruptcy proceedings.

6. Entry of a record on company liquidation into USRLE.


Paradigma lawyers offer:

  • legal advice;
  • analysis of the case for signs of fictitious and intentional bankruptcy;
  • strategic defence of companies against hostile takeovers;
  • legal due diligence of the debtor company for risk assessment;
  • development of legal strategy for the case;
  • professional counteraction to initiating bankruptcy proceedings against the debtor;
  • preparation of procedural documents;
  • settlement of contentious situations out of court (claims correspondence, mediation);
  • representation of clients in bankruptcy cases before arbitrazh courts of Moscow, Moscow Region, other subjects of the Russian Federation;
  • organisation and holding of creditors’ meetings;
  • legal support of receivership and other services.

There are several arguments speaking in favour of clients choosing Paradigma:

  • irreproachable business reputation. Our lawyers’ track record today includes more than 40 successful bankruptcy cases;
  • minute knowledge of the laws and of specialised case law;
  • strategic approach to resolving business tasks;
  • guaranteed independence and safety;
  • strict compliance with legal rules and professional codes of conduct.