Recovery of Debt of Legal Entities, RF Constituent Entities and Municipalities Under Liabilities to the Russian Federation
One of the important activities of Vnesheconombank as an agent of the Government of the Russian Federation is ensuring the repayment (discharge) of debt of legal entities, the RF constituent entities and municipalities under their financial obligations to the Russian Federation.
In order to ensure effective recovery of debt owed by the debtor to the Federal Treasury (the Russian Federation), highly qualified lawyers and economists from Vnesheconombank use different mechanisms for its settlement, in particular:
- develop proposals concerning the measures to be taken for the settlement of overdue debt to the federal treasury and put such measures into effect, in particular, through foreclosure of the pledged property, lodging claims to sureties and/or guarantors of the implementation of such measures, use of out-of-court debt settlement arrangements;
- provide representation services in courts for the matters associated with the repayment (discharge) of debt of legal entities, the RF constituent entities and municipalities under their financial obligations to the Russian Federation and take part in court enforcement proceedings;
- ensure restructuring of debtor's arrears in financial obligations to the Russian Federation, in particular, through the conclusion of settlement agreements with debtors, in accordance with the procedure and on the terms and conditions provided in the fiscal laws of the Russian Federation;
- prepare and put into effect proposals regarding financial rehabilitation of borrowers having financial obligations to the Russian Federation, in particular, strategic production facilities, including those placed under resolution by federal executive authorities in the course of bankruptcy proceedings initiated by a commercial court.
In 2016, the amount of settled debtors’ obligations to the federal treasury amounted to 5.2 billion rubles.