Representatives from government structures, scientific organizations, large businesses, as well as members of the working group of the CIS Inter-Parliamentary Assembly, which is preparing a model law on “Cross-Border Insolvency and Bankruptcy,” participated in this event.
Elena Mokhova, Deputy Head of the Working Group of the CIS Inter-Parliamentary Assembly, presented a report on the current status of the draft law “On Cross-Border Insolvency and Bankruptcy.”
Key points:
the need to legitimize mechanisms for resolving cross-border insolvency against the backdrop of tightening sanctions against Belarus, Russia, and other participants;
the proposal for the necessity of developing strategies for effective digitalization of interactions between insolvency practitioners and ministries, judicial bodies, and other institutions of different countries in the context of cross-border bankruptcy;
the importance of analyzing existing practices in the field of cross-border bankruptcy procedures;
the lack of clear regulatory acts governing cross-border bankruptcy and the specifics of the burden of proof of the principle of reciprocity in these procedures;
the significance of the principle of formal equality in bankruptcy procedures to protect the interests of all participants;
the necessity of discussing the standardization of requirements for insolvency practitioners.
