Plenum of the Supreme Arbitrazh Court of RF has adopted a number of decisions determining a procedure of applying a bankruptcy law

Increased number of cases on bankruptcy considered by arbitrazh courts (commercial courts in Russia) has become one of the world financial crisis consequences. In this connection the Plenum of the Supreme Arbitrazh Court has adopted several decisions determining the procedure of applying the Federal Law “On insolvency (bankruptcy)" and other regulatory documents in case that legal proceedings on bankruptcy are initiated.

In particular, procedure of pledgees' claims settlement in case of a pledger's bankruptcy, procedure of application of the Federal Law "On enforcement proceedings" in case that legal proceedings on bankruptcy are initiated as well as procedure of settlement of claims related to a debtor's current payments have been determined and explained.