Posts tagged with "Russia"

Russia-Ukraine Crisis - Implications for the global economy and businesses
Economy · 10. March 2022
Russia’s invasion of Ukraine has exposed several geo-political fault lines: a breakdown in supply chains, inaccessibility of critical raw materials, and an impending commodity crisis.

Russia: Globas helps to comply with AML / CFT Law
Members News · 08. December 2021
In the first half of 2021, the Federal Service for Financial Monitoring of the Russian Federation (Rosfinmonitoring) conducted 145 inspections of legal entities and individual entrepreneurs, and violations were recorded for all inspected subjects; the administrative cases were opened in relation to 95% of violations.

Economy · 14. October 2021
Almost all disputes are resolved in courts of general jurisdiction: 84% of litigations are heard in Federal courts of general jurisdiction and magistrate’s courts, and only 16% of cases fall for the share of courts of arbitration.

Economy · 21. October 2020
The moratorium on bankruptcy expired on October 6, 2020 and was prolonged by the Russian Government until January 7, 2021. The restrictive measure has been protected 525 thousand companies and 1,6 million sole entrepreneurs from creditors' claims. The next 3 months the moratorium continues to...

Economy · 29. September 2020
As of 2020 financial statements are published in Russia by a new source - the State information resource of accounting (financial) statements (GIR BO), the maintenance of which is entrusted to the Federal Tax Service of the Russian Federation - Russian registration body (Registrar). According to the Russian Federal Law companies should file annual financial statements with the tax authorities no later than 3 months after the end of the reporting period. At present over 2,15 million financial...

Economy · 10. August 2020
It is expected that the Russian economy will face a wave of bankruptcies in the next 6 months. The reason - the end of the moratorium on bankruptcy introduced on April 1, 2020 due to business activity deceleration resulting from the impact of Covid-19. Realizing the scale of future damage, the Government of Russia suspended the initiation of insolvency proceedings for 6 months in order to avoid mass company liquidations. Along with the moratorium, restrictions are introduced that directly...
Economy · 09. July 2020
Credinform Rus: The Court of Arbitration does increasingly become a tool for settlements of debt in Russia Every 10th case returns to the applicant without consideration. It means that many Russian companies try to recover bad debts through an arbitration but withdraw cases as the claim amount was settled before legal action started in practice.