State-owned companies want to be given a pre-emptive right to buy assets of strategic enterprises

The government wants to give pre-emptive rights to state companies and state corporations to buy strategic enterprises when they go bankrupt. Such a proposal is included in the list of measures to support the economy under sanctions with a deadline of October 31 (Vedomosti has the document, its authenticity was confirmed by a federal official). In addition, this paragraph included an initiative to lift the ban on the acquisition of “strategic enterprises” for bankruptcy creditors and their affiliates.

Changes are proposed to be made to the law “On Insolvency (Bankruptcy)” – the document has already been prepared, two sources close to the government said. Now, according to Art. 195 of the Bankruptcy Law, the right of priority to acquire a strategic enterprise in bankruptcy proceedings is exclusively with the Russian Federation, that is, in fact, with the government (it can act, for example, through the Federal Property Management Agency). Moreover, this opportunity can be used only if the organization performs work on the state defense order, ensures the country’s defense capability and security. Competitive creditors and their affiliates are not allowed to participate in the auction.