The Ministry of Economic Development spoke about the revision of the law on bankruptcy of legal entities

The revision of the law on bankruptcy of legal entities will allow companies not only to liquidate the business, but also to try to rehabilitate it. This was announced by Maxim Kolesnikov, First Deputy Minister of Economic Development, at the Izvestia studio on June 19 as part of the St. Petersburg International Economic Forum (SPIEF-2025).

"We want to make it (the law. — Ed.) rehabilitating the business. In order for businesses to have specific mechanisms for their rehabilitation, for maintaining business and continuing work," he said.

The Deputy Minister stressed that the bankruptcy procedure would be flexible for both creditors and debtors. According to him, it is planned to finalize the principles of interaction between the self-regulatory organization and arbitration managers, introduce the principle of independence of the latter's choice and increase compensation.

The relevant amendments are being developed with the assistance of experts from the government of the Russian Federation and the Federal Tax Service (FTS), and changes are likely to be made to the law before the end of the year, Kolesnikov said.

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The government is looking for ways to patch holes in the construction industry

On May 23, Russian President Vladimir Putin instructed to take measures to reduce the risks of bankruptcy of developers. The Head of State also ordered the exemption of organizations engaged in housing construction from restrictions and value-added tax (VAT) not established at the federal level for general house repairs in apartment buildings.