formerly Goltsblat BLP
in Russia
Stay in touch on:

Bryan Cave Leighton Paisner (Russia) LLP — Russian Practice of Bryan Cave Leighton Paisner LLP, international law firm.
The world is more connected, and now so are we. Learn More

Insolvency & bankruptcy

What others say about us..

International firm with strong Russian roots noted for its abilities on the contentious side of restructuring insolvency.

Chambers Europe 2015

During the current economic and financial turmoil, effective legal support in the area of restructuring, insolvency and bankruptcy is vital.

The GBLP bankruptcy group has extensive experience in providing appropriate support for company bankruptcy procedures and acting for creditors during troubled debt recovery in various areas of business. This helps our lawyers evaluate correctly the prospects for debt repayment by troubled debtors, select the best option for a client for settling troubled debts and make sure all the client's claims are satisfied as far as possible during debtor bankruptcy procedures.

A holistic approach and win-win financial solutions for our clients, tailored to both business objectives and the market situation, are the key principles pursued by our bankruptcy team.


  • We are one of few international law firms in Russia able to offer its clients the full range of legal services on restructuring, insolvency and bankruptcy, including cross-border bankruptcy.
  • Our bankruptcy group has unique experience in supporting clients at any stage: from advising on particular issues to rendering comprehensive legal support for all bankruptcy procedures. Moreover, we provide our clients with professional services of the highest quality, irrespective of their type and scope.
  • Having leading specialists in different branches of Russian law (including tax, real estate, corporate governance, criminal law and proceedings, etc.), we are able to provide overall legal support on all issues arising from both debt enforcement and bankruptcy procedures.
  • Extensive experience in supporting company bankruptcy procedures in different sectors.
  • Wide experience in cooperating with professional court-appointed administrators (insolvency officers) whom we may recommend to our clients for conducting relevant procedures in accordance with the law.
  • We hold a strong position on the Russian market and are able to represent clients throughout Russia: in contrast to many of our competitors, we have a full range of capabilities, resources and experience for acting for our clients before supervisory, law-enforcement and other agencies in virtually all parts of Russia, from Kaliningrad to Sakhalin.
  • Our bankruptcy group is distinguished by its ability to engage specialists in virtually all the main legal systems (English, US, Russian, Chinese, Islamic, German, French and Israeli law) from within a single law firm, this constituting a tremendous advantage for clients whose interests are not confined to the Russian Federation.

We have a rather flexible fee policy. It includes hourly rates of our specialists, one-off or monthly remuneration or a "success fee". Depending on the scope of the services, we select the most appropriate payment terms.

Services to Creditors

  • Drafting and submitting to a state arbitration court a creditor’s bankruptcy petition against the debtor.
  • Preparing and submitting to a state arbitration court a creditor's claim for inclusion on the register of the debtor's creditors.
  • Identifying transactions by the debtor that may be challenged on the grounds stipulated by the applicable legislation, including the Federal Law “On Insolvency (Bankruptcy)”, drafting statements of claim and issuing instructions to court-appointed administrators on the need to challenge transactions.
  • Enforcing secondary liability claims against a debtor’s controlling parties (CEO, founders, etc.)
  • Taking actions for a secured creditor to retain a pledged asset in bankruptcy proceedings, including preparing and forwarding the relevant application to the receiver.
  • Collecting and compiling data in relation to debtors and their financial standing.
  • Debt enforcement, including drafting and filing statements of claim, court representation and support for enforcement proceedings.
  • Out-of-court debt repayment, including acting for creditors in negotiations with debtors, preparing and forwarding repayment demands.
  • Pledged property foreclosure, including appraisal of the pledged asset, preparing and filing statements of claim, acting in court and supporting enforcement proceedings.
  • Legal support for assignment of receivables.
  • Arrangements for a comprehensive troubled debtor appraisal.
  • Analysing and making recommendations on proposals for replacing debtor's assets and the termination compensation issue.
  • Elaborating a bankruptcy action plan depending on the creditor's status and the amount of its claims in relation to the aggregate claims by the debtor's creditors.
  • Criminal prosecution of a debtor's controlling parties (CEO, founders, etc.) and individual debtors, including for fraud, premeditated and fictitious bankruptcy.
  • Other legal services for representing a client as a creditor.

Services to Debtors

  • Representing clients in negotiations with creditors, including with respect to debt restructuring.
  • Legal support for debt novation/assignment of receivables.
  • Preventing debt enforcement, including by acting in court and challenging transactions.
  • Elaborating bankruptcy prevention plans.
  • Criminal prosecution of a debtor's former controlling parties (former CEOs, founders, etc.).
  • Analysing the property and financial standing of a debtor to determine a liquidation strategy.
  • Elaborating a liquidation plan, including through bankruptcy procedures.
  • Legal support for voluntary liquidation.
  • Drafting a debtor’s bankruptcy petition and submitting it to a state arbitration court.
  • Other legal services for representing a client as a debtor.

Services to Debtors/Creditors

  • Advising on debt restructuring, liquidation and bankruptcy.
  • Appealing against actions/omissions by insolvency officers in courts, the federal executive supervisory body and/or self-regulating organisations.
  • Legal support for acquisition of debtor accounts payable.
  • Acting for clients in court hearings of debtor bankruptcy cases.
  • Challenging unjustified and/or disputable claims against debtors in courts.
  • Drafting and filing of applications with state arbitration courts for the claims to be included on the creditors' register.
  • Participating in creditor meetings (creditor committees).
  • Organising and conducting meetings of the debtor's creditors if court-appointed administrators avoid doing so.
  • Legal support for receivership proceedings, including:
    • drafting regulations on the procedure, the timelines and the terms for selling the debtor's assets;
    • drafting and negotiating with the pledge holder regulations on the procedure, the timelines and the terms for selling the debtor's pledged assets;
    • organising sale of the debtor’s assets by auction.
  • Developing an accounts payable acquisition strategy and action plan in order to obtain a majority vote at the creditors’ meeting.
  • Acting for clients in distressed debt trading.
  • Challenging debt portfolio sales results in court.
  • Selecting an insolvency officer on agreement with the client.
  • Legal support for insolvency officers.
  • Legal support for the supervision procedure.
  • Legal support for financial recovery.
  • Legal support for external administration.
  • Challenging debtor property appraisals in court.
  • Amicable settlement drafting, negotiating and signing support.

Send mail
Oleg Arkhipov
Partner, Dispute resolution
Send mail
Elena Trusova
Partner, Dispute resolution/ Intellectual property
Send mail
Anton Panchenkov
Partner, Corporate / M&A, Head of Moscow Israeli Desk
Send mail
Ivan Veselov
Partner, Dispute resolution
Meet the team >
Insolvency & bankruptcy
  Insolvency & bankruptcy Download a booklet
© 2009-2019 Bryan Cave Leighton Paisner (Russia) LLP is a limited liability partnership registered in England and Wales (registered number OC340589). Registered office: Adelaide House, London Bridge, London EC4R 9HA, United Kingdom. Winner - International Law Firm of the Year legal500 top ranked


All fields are required