Debt management in Russian jurisdiction
Legal services (legal assistance) in debt management in the Russian Federation
Debt management is one of the important areas of practice for lawyers at BRACE Law Firm. In our practice, we are confronted with various legal disputes regarding the recovery of debts arising from unscrupulous actions by debtors with intentions to evade debt. Our advantage is the great experience in conducting this category of cases in courts and at the stage of enforcement proceedings, specialized expertise in debt collection disputes and a well-coordinated team of lawyers and lawyers.
Debt management services
Regardless of how competently the drafting of contracts with counterparties is carried out, there are always risks of deliberate evasion of the parties to the contract from the fulfillment of their obligations. In such a case, dishonest debtors often deliberately take actions aimed at creating a situation in which the actual collection of debt from them, regardless of its award, becomes impossible. In this case, it is extremely important to give a correct legal assessment of the actions of the debtor in order to correctly choose the mechanisms for protecting the creditor.
There is a fairly wide range of legal instruments that help to prevent an unscrupulous debtor. Some of them include the use of a mechanism for securing contractual obligations; appeal to the court with a statement on securing the claim; complaints to law enforcement authorities; a collection of awarded debt directly with credit institutions in which the debtor has accounts; interaction with bailiffs in order to carry out the necessary executive actions aimed at debt collection; filing an application for bankruptcy of a debtor and conducting bankruptcy proceedings; identification of signs of intentional bankruptcy of the debtor; contesting transactions concluded by him aimed at reducing property that may be foreclosed, etc.
In most cases, the implementation of actions aimed at debt management requires a competent detailed study of the strategy and operational legal analysis of the situation.
Debt management procedure
Before going to court, it is necessary to determine the prospects for the enforceability of the judgment and to analyze the solvency of the debtor.
If there are prospects for debt collection, it is possible to start filing a claim with the debtor and submitting an application to the court. Debt collection cases are subject to consideration by arbitration courts (in economic disputes) and courts of general jurisdiction.
Simultaneously with the statement of claim, if there is reason to believe that the debtor will take actions aimed at hindering the actual collection of debt, it may be necessary to file an application for securing the claim.
After the court renders a decision in favor of the debtor, if there is information about the availability of funds in its accounts, it is recommended that the writ of execution be sent directly to the credit institution. In the absence of this information, it is necessary to appeal to the bailiff with a statement on the initiation of enforcement proceedings and on the search for property of the debtor.
In addition to the above actions, there is a fairly wide range of legal mechanisms used in the process of providing debt management services. In some cases, it may be necessary to coordinate several lawsuits in order to get a lender to collect a debt. The need and the possibility of taking certain actions in each case should be assessed by a lawyer with knowledge and practical skills in the field of debt collection.
- Legal analysis of documents and other evidence submitted by the client for debt management purposes
- Debtor solvency analysis
- Consultation of lawyers and lawyers of BRACE Law Firm regarding the prospects of judicial and/or pre-trial settlement of the dispute
- Preparation and submission of a claim
- Support of negotiations with the debtor at the stage of pre-trial settlement of the dispute
- Debt Management Strategy and Tactics
- Collection, preparation, and retrieval of evidence for a court case
- Preparation and filing of a statement of claim (application) and other procedural documents on a judicial dispute
- Taking measures to prevent the debtor from withdrawing assets in order to default on debt
- Representation of interests, case management in court by BRACE lawyers and completion of all necessary procedural actions
- Identification of signs of fictitious and intentional bankruptcy
- Legal assistance when applying to law enforcement authorities with complaints of unfair actions of the debtor
- Preparation and support of the conclusion of amicable agreements concluded at various stages of the trial
- The appeal of judicial acts in the courts of appeal, cassation and supervisory review
- Support of enforcement proceedings
- Other legal assistance for debt management