OREANDA-NEWS Russians have become more likely to apply to the courts for bankruptcy proceedings. This was announced by the chairman of the Supreme Court of Russia Vyacheslav Lebedev, his words are quoted by RIA Novosti.

At the plenary session of the Council of Judges Lebedev noted that the arbitration courts in the first quarter of this year considered 30 percent more bankruptcy cases than in the same period of 2022. He stated that "further improvement of bankruptcy legislation, simplification and acceleration of judicial procedures, unification" is required.

According to the Chairman of the Supreme Court, over the specified period, the number of cases on collecting credit debts from citizens by order has also increased — by 23 percent. In the first quarter of 2023, the number of bankrupt citizens, including individual entrepreneurs, has sharply increased in Russia. 76 thousand Russians were declared insolvent, which is 40.3 percent more than in the same period last year.

Earlier it was reported that the Russian authorities are discussing the possibility of giving Russians the right to hide the fact of a long—standing bankruptcy - the term can reach 10 years or more. The current legislation assumes that information about the bankruptcy of a citizen will forever remain in the public domain. According to the first Deputy Minister of Economic Development Ilya Torosov, the ministry is still only talking about creating a mechanism, at the moment the idea is "not even in development."