GK ASV has announced a tender for the search of assets of debtor controlling persons
State Corporation "Deposit Insurance Agency" (GK "ASV") has announced a tender for the search of assets of debtor controlling persons for the total amount of penalties equaling 95.5 billion rubles.
Karina Epifantseva, head of crisis management and bankruptcy practice, assessed this initiative:
"In almost all cases of foreclosure on foreign assets, the plaintiffs are financial structures. Moreover, they are represented not only by GK "ASV", but also by the largest banks that are not in bankruptcy — VTB, Alfa-Bank, Sberbank. I believe that credit institutions mostly handle it by full-time lawyers, who interact with their foreign colleagues if necessary. The expansion of the market for such services will help to increase the efficiency of GK "ASV". But I would not talk about the formation of a separate market: customers are banks and GK "ASV", served by a narrow circle of consultants, plus a high financial barrier to enter the business, if you cover legal costs, considering that the result in the form of receiving money from debtors is hardly predictable."