From April 1 to October 1, 2022, a moratorium was introduced on involuntary bankruptcy at the request of creditors

From April 1 to October 1, 2022, a moratorium was introduced on involuntary bankruptcy at the request of creditors (Decree of the Government of the Russian Federation of March 28, 2022 N 497). It applies to all legal entities, citizens and individual entrepreneurs. The exception is problem developers of apartment buildings and other real estate objects included in the unified register of problem objects as of April 1, 2022.

The moratorium provides persons to whom it applies benefits (in particular, exemption from payment of penalties and other financial sanctions) and at the same time imposes additional restrictions on them, for example, a ban on the payment of dividends and distribution of profits.

The Central Bank of the Russian Federation commented on this clarification, noting that the ban on the payment of dividends and distribution of profits should be considered as a ban on the company from performing certain corporate actions (Letter of the Bank of Russia dated May 17, 2022 N 010-31-2 / 4257).

At the same time, banks are not obliged to control the implementation by the organization, which is subject to the moratorium on initiating bankruptcy proceedings, of the ban on the payment of dividends and distribution of profits. But banks have the right to establish in internal documents and contracts with customers additional procedures for accepting for execution orders for the transfer of funds.