Putin legalized credit holidays for mobilized entrepreneurs
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Russian President Vladimir Putin signed a law providing credit holidays to limited liability companies, the only owners of which are called up for military service by mobilization.
Document published on the portal of legal information. It states that credit holidays are provided for the period of mobilization, increased by 90 days. They can be extended if the mobilized person is injured or ill and is in the hospital. The deadline for submitting documents for obtaining credit holidays is until the end of 2023.
The document also states that mobilized entrepreneurs can file a petition to suspend enforcement proceedings. In addition, the law spells out a mechanism for how payments can be received in the event that a debtor mobilized is declared bankrupt.
The explanatory note to the law says that in Russia there are 797 thousand limited liability companies with a single male owner not younger than 18 and not older than 60 years old – this is approximately 35% of registered small and medium-sized businesses. As of September 1, 71.4 thousand such LLCs had debts on loans. Their portfolio amounted to 1.2 trillion rubles – approximately 15% of the total portfolio of small and medium-sized businesses.
About what happens after the entry of Russian troops into Ukraine, read online broadcasts “b”.
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