Bill on the external administration of foreign companies has been given a more moderate wording | News -

Bill on the external administration of foreign companies has been given a more moderate wording

A bill on external administration of foreign companies that have left Russia is ready to be submitted to parliament. 

The current version looks more moderate compared to earlier versions in March. 

External administration is only planned upon a claim filed by the Commission under the Ministry of Economy. The draft foresees no confiscation or direct nationalization of assets, a simple mechanism for the owners to regain control.

"Accelerated bankruptcy" and transfer of assets to another owner should be possible only as the last option with a clearly regulated auction-based sale of assets.

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