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The Financial club. The Bankruptcy of Non-Credit Financial Institutions. Need for Reform

02 October 2018
Round table

Event Description

On October 2, 2018, the second meeting of the Financial club, devoted to the perspectives of modernization of Russian non-credit financial institutions bankruptcy legislation, took place.

The following questions were discussed at the meeting:

  1. The necessity of introduction of special regulation of the insolvency (bankruptcy) procedures of non-credit financial organizations (NFO) in the current Russian legislation;
  2. The necessity of the legal regulation of the rehabilitation of the NFO which meet the requirements of insolvency;
  3. Assessment of the introduction of a special creditors' register of claims on the transfer of securities; 
  4. Preferences for lenders whose claims arose from certain financial instruments;
  5. Restriction of liquidation netting usage in derivative agreements in the NFO bankruptcy procedure. Practical problems of liquidation netting;
  6. Legal consequences of an investment fund’s financial intermediary bankruptcy;
  7. Selection of an organization that can perform the functions of compensation fund in case of NFO bankruptcy.

The organizer of the Financial club is International and Comparative Law Research Center with the assistance of the Civil Law Department of Faculty of Law of Lomonosov Moscow State University. 

 

Participants

Maxim Bashkatov (Moderator)
Director of International Private Law and Comparative Law Research of International and Comparative Law Research Center, lecturer of the Civil Law Department of Faculty of Law of Lomonosov Moscow State University, Master of Law, managing and executive editor of the «Civil Law Review» Journal, lecturer of further education courses of «M-Logos» and «Statut»
Oleg Zaitsev
Ph.D. in Law, Consultant of Alexeev Private Law Research Centre under the President of the Russian Federation, Associate Professor of the Russian School of Private Law, lecturer of Moscow School for the Social and Economic Sciences
Rustem Miftakhutdinov
Ph.D. in Law, Associate Professor of the Department of Entrepreneurial and Corporate law of Kutafin Moscow State Law University
Evgeny Suvorov
Ph.D. in Law, Master of Law, State Counselor of Law of the 3rd Rank, lecturer of the Department of Civil Law of Kutafin Moscow State Law University, Partner, “Synum ADV"
Ilya Eliseev
Consultant of the Department for the Development of Legislative Initiatives, Department of Securities Market and Commodity Market, Bank of Russia

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