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Refinancing rate shall be reduced


Refinancing rate shall be reduced
2009-07-13 08:00

NEWS OF THE FEDERAL LEGISLATION

Refinancing rate shall be reduced

By the Direction of the Bank of Russia N 2259-U of 10 July 2009 (document is in Russian), from 13 July 2009, the refinancing rate of the Bank of Russia shall be reduced from 11,5 to 11,0% per annum.

Presidium of the Supreme Court of Arbitration of the Russian Federation clarified the matters connected with transitional provisions of the Federal Act N 296-FZ "On amendments to the Federal Act “On insolvency (bankruptcy)" of 30 December 2008
2009-07-13 08:00

NEWS OF THE LEGAL PRACTICE

Presidium of the Supreme Court of Arbitration of the Russian Federation clarified the matters connected with transitional provisions of the Federal Act N 296-FZ "On amendments to the Federal Act “On insolvency (bankruptcy)" of 30 December 2008

By the letter N 130 of 4 June 2009 (document is in Russian), Presidium of the Supreme Court of Arbitration of the Russian Federation in accordance with article 16 of the Federal Constitutional Act "On courts of arbitration in the Russian Federation" (document is in Russian) informed courts of arbitration on the developed recommendations to be guided to settle problems concerning application of transitional provisions of the Federal Act N 296-FZ "On amendments to the Federal Act “On insolvency (bankruptcy)" of 30 December 2008 (document is in Russian).


Thus, Presidium of the Supreme Court of Arbitration pointed out that in accordance with clause 1 of article 4 of the Act N 296-FZ, the Act on bankruptcy (document is in Russian) in the wording of the present Act shall be applied by courts of arbitration to settle cases of bankruptcy on the basis of applications approved after 31 December 2008.

 

Besides, Presidium of the Supreme Court of Arbitration of the Russian Federation also considered the problems of application of part 3 of article 14.13 of the RF Code of Administrative Offenses (document is in Russian), clause 6 of article 233 of the new wording of the Act on bankruptcy.


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