Ministry of Justice registers the Debt Restructuring Assistance Fund
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On September 19, the Ministry of Justice of the Russian Federation registered the Fund for Assistance in Debt Restructuring, said Anatoly Vasiliev, Deputy Head of the Department for Ensuring Bankruptcy Procedures of the Federal Tax Service of the Russian Federation. conferences “Kommersant” “Taxes-2022”. The foundation is non-profit, it provides services free of charge.
“90 percent of the cases that we are considering (about solving problems with company debts.— “b”), we can decide for ourselves. <...> But we are perceived as a fiscal body and not everyone is ready to go to the tax service to disclose their data – although in practice we already know them – but still there is a certain psychological barrier, ”said Mr. Vasiliev.
According to the deputy head of the department for ensuring bankruptcy procedures of the federal tax service, not all issues can be resolved only on the basis of the Federal Tax Service. He believes that in some cases it is impossible to carry out the usual installment plan on the debt. “Additional investment and financing is needed. We have experience of involving banks in this work, but still on a mass basis, it seems to me that it would be better outside the tax service,” Mr. Vasiliev explained.
How reported Kommersant’s sources, the creation of the Debt Restructuring Assistance Fund was one of the points of the memorandum on facilitating business rehabilitation, which was signed at the St. Petersburg International Legal Forum at the end of June. The initiator was the Federal Tax Service of the Russian Federation, the Ministry of Economy of the Russian Federation, the Chamber of Commerce and Industry of the Russian Federation, the SME Corporation, the Association of Russian Banks, and the Bankruptcy Club joined the agreement.
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