Best Bankruptcy & Debt Lawyers in St Petersburg

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Petersburg Legal Center LLC
St Petersburg, Russia

Founded in 2000
50 people in their team
Russian
English
Petersburg Legal Center LLC welcomes you!We provide services from legal advice and drafting documents to protecting your interests in court in St. Petersburg, the Leningrad region and other regions of Russia.The main areas of our activity are:for individuals:  inheritance, family, housing law,...
Duvernois Legal
St Petersburg, Russia

Founded in 1999
50 people in their team
Russian
English
About companyDuvernois Legal  was founded in St. Petersburg and has been present on the legal services market since 1999. Over the 20 years of its existence, the company has become one of the leaders in the segment of providing legal services for Russian and international business. The company...
Advocate FREMM
St Petersburg, Russia

Founded in 1993
50 people in their team
Russian
English
Advocate FREMM was founded in 1993 and for today it is one of the oldest law firms in St. Petersburg with ever-growing legal practice.During a quarter-century period Advocate FREMM has earned the reputation as a reliable and professional legal adviser. As a result the firm entered into Law Firms of...
Khrenov and Partners
St Petersburg, Russia

Founded in 2003
50 people in their team
Russian
English
Khrenov & Partners provides a comprehensive range of legal services to Russian and international clients. Core areas for the firm include corporate law and dispute resolution where Khrenov & Partners has established a loyal client following and received peer recognition.Established in 2003,...
Pepeliaev Group
St Petersburg, Russia

Founded in 2002
250 people in their team
Russian
English
Chinese
Pepeliaev Group: Comprehensive Legal Solutions Across BordersWith over two decades of unparalleled expertise, Pepeliaev Group stands as one of Russia's foremost law firms, providing a full spectrum of legal services tailored to meet the complex needs of businesses both within Russia and...
Ivanyan and Partners
St Petersburg, Russia

Founded in 2006
50 people in their team
Russian
English
Since 2006, we have been providing legal assistance to business owners, state corporations, private clients and not-for-profit organisations. Our key competences are supporting complex investment projects and deals and resolving complicated disputes, including cross-border and international...
Bespalov, Stogov and Partners
St Petersburg, Russia

Founded in 2002
50 people in their team
Russian
English
Our company’s office is located in St. Petersburg, but the lawyers of Bespalov, Stogov and Partners represent the interests of clients throughout the North-West region.Our specialists provide legal support to individuals, businesses, non-profit organizations and entrepreneurs. An experienced...
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Browse bankruptcy & debt law firms by service in St Petersburg, Russia

St Petersburg, Russia Attorneys in related practice areas.

About Bankruptcy & Debt Law in St Petersburg, Russia

Bankruptcy and debt law in St. Petersburg, Russia, is designed to provide a legal process for individuals and businesses that are unable to repay their debts. The regulations are governed by the Federal Law of Russia "On Insolvency (Bankruptcy)," which applies to the entire Russian Federation, including St. Petersburg. Bankruptcy proceedings can result in the liquidation of a debtor's assets to repay creditors or the implementation of a debt restructuring plan. This legal framework aims to balance the interests of debtors and creditors, while ensuring fair treatment and the preservation of economic value.

Why You May Need a Lawyer

There are several common situations in which individuals or businesses in St. Petersburg may require legal help related to bankruptcy and debt, including: dealing with insurmountable debt, facing aggressive collection actions from creditors, needing to negotiate with creditors, facing lawsuits due to unpaid debts, and seeking to restructure or discharge debt through bankruptcy. A lawyer can provide valuable guidance in navigating the complex legal framework, represent the debtor's interests in court, and advise on the best course of action based on the specific circumstances.

Local Laws Overview

Key aspects of local laws relevant to bankruptcy and debt in St. Petersburg include:

  • The threshold for declaring bankruptcy, which is a debt amount that cannot be settled within the time frame specified by law.
  • Rights and obligations of the debtor and creditors during the bankruptcy proceedings.
  • The procedure for the sale of the debtor's assets and the priority of claims, with certain debts, like secured loans, having precedence over unsecured debts.
  • The potential for restructuring debt and the approval of a repayment plan by the creditors and the court.
  • Discharge provisions for the debtor, which may release the debtor from certain types of remaining debts post-bankruptcy.
  • Regulations governing the role and responsibility of the bankruptcy trustee or manager appointed to oversee the proceedings.

Frequently Asked Questions

What are the grounds for declaring bankruptcy in Russia?

Bankruptcy can be declared when a debtor is unable to fulfill obligations of monetary obligations due within three months, provided that the total amount of debt exceeds a certain threshold that is periodically adjusted by law.

Can only businesses declare bankruptcy, or can individuals too?

Both businesses and individuals can declare bankruptcy under Russian law.

How long do bankruptcy proceedings generally take?

The duration of bankruptcy proceedings can vary greatly depending on the complexity of the case, but they generally take from six months to several years.

Can all debts be discharged in a bankruptcy process?

Not all debts can be discharged; certain obligations such as alimony, child support, and some types of tax debts usually survive the bankruptcy process.

What is the difference between bankruptcy liquidation and restructuring?

Bankruptcy liquidation involves selling off the debtor's assets to repay creditors, whereas restructuring involves creating a repayment plan that allows the debtor to repay debts over time while continuing to operate.

What assets are protected from liquidation in a bankruptcy?

Some personal assets, such as a primary residence, essential household items, and basic income, may be protected from liquidation under Russian bankruptcy laws.

Who appoints the bankruptcy trustee and what is their role?

The bankruptcy trustee is typically appointed by the court and is responsible for overseeing the bankruptcy process, including the sale of assets and distribution of proceeds to creditors.

Can creditors initiate bankruptcy proceedings against a debtor?

Yes, if a debtor fails to satisfy a creditor's claims, the creditor has the right to file a petition for the debtor's bankruptcy with the court.

What happens if I cannot reach an agreement with my creditors?

If you cannot reach an agreement with your creditors, the court may intervene to impose a settlement or proceed with bankruptcy liquidation or restructuring.

Is it possible to appeal the decisions made in bankruptcy proceedings?

Yes, decisions in bankruptcy proceedings can be appealed to higher courts within a specified time frame.

Additional Resources

For those seeking legal advice in the field of bankruptcy and debt in St. Petersburg, Russia, the following resources may be helpful:

  • The Federal Service for State Registration, Cadastre and Cartography (Rosreestr) - for information on property registration and related issues.
  • The Russian Federal Tax Service - for tax-related inquiries and debt issues.
  • The State Duma and the Federation Council's legal databases - for up-to-date information on relevant legislation.
  • Local legal clinics and non-profit organizations that offer assistance or advice in financial and legal matters.

Next Steps

If you need legal assistance in bankruptcy and debt in St. Petersburg, follow these steps:

  1. Organize your financial documents and gather evidence that may be relevant to your case.
  2. Seek referrals or perform thorough research to find a reputable lawyer who specializes in bankruptcy and debt law.
  3. Schedule a consultation to discuss your situation with the lawyer and understand your legal options.
  4. Work with your lawyer to prepare the necessary documents and develop a strategy for your case.
  5. Stay informed and participate actively in your legal proceedings as advised by your lawyer.

It's important to address bankruptcy and debt issues promptly with professional legal assistance to protect your rights and explore all possible solutions available under St. Petersburg's laws.

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Disclaimer:
The information provided on this page is for general informational purposes only and does not constitute legal advice. While we strive to ensure the accuracy and relevance of the content, legal information may change over time, and interpretations of the law can vary. You should always consult with a qualified legal professional for advice specific to your situation. We disclaim all liability for actions taken or not taken based on the content of this page. If you believe any information is incorrect or outdated, please contact us, and we will review and update it where appropriate.