40% of Russian companies may go bankrupt in the near future

The Russian economy is set for a wave of bankruptcies. According to the Federal State Statistics Service, in the first quarter of 2010 were at a loss of almost 40% of all companies in the country. Grows and the number itself bankruptcies, reports the Higher Arbitration Court. In the first quarter at a loss were 38.8% of companies - slightly less than in 2009 - while this figure was 39,5%. Despite the fact that the indicators in this year's lower number of bankruptcies is increasing. In 2009, 13,916 bankrupt companies, which is 11% more than last year. This year the figure will rise even more, writes GZT.ru. Statistics in 2010 shows that the quantity vector of bankruptcies is still directed upwards. "Judging from the database of the arbitration court in Moscow, earlier in the day, the court recorded the statements of 4-6 for bankruptcy. On April 21, 2010 of such statements was already 8, the day the number had risen to 14. This could be called an accident, but on April 30 the court registered at 32 petition in bankruptcy, and even on May 4, with traditionally minimal business activity in this period, the application was 16 "- says the managing partner of the Group of legal and auditing firms" Promoting Business Projects Olga Ponomareva. According to experts, the crisis affects the number of hits in the legal firm for services in support of the bankruptcy process. Increasingly, there are related to the debtor's inability to extinguish credits, requests to initiate procedures for contractors who fail to meet their obligations. Also, in conditions of economic instability the state adopted a policy to increase tax collection from employers, so the increased handling customers, which, after verification of tax got a huge tax liability and are forced to price their own business to pay arrears this state. In view of these circumstances the last time there was an increase in the number of companies providing legal services in the field of bankruptcy. "However, now traced the trend toward specialization of these firms. If the 90-ies such services rendered virtually any law firm, now in most cases, this involved the organization, specializing in bankruptcy issues or special sections (departments) in large law firms. This trend is directly linked with the complexities of the legal regulation of bankruptcy ", - said the head of the legal company« Wit and Wis »Sergey Melanin. The average price for Moscow to support services of bankruptcy up from 300 thousand to 400 thousand rubles. "The ultimate value is determined depending on a range of services necessary for the client. In particular, it can be: pre-bankruptcy analysis of financial and economic activities of the customer and recommendations on the optimal choice of options bankruptcy liquidator fees, services of lawyers, appraiser services (valuation of assets, receivables and the like); report on the financial and economic activities, conducting Audit, inventory and evaluation, as well as a set of measures to protect the debtor's controlling persons of the possible involvement of vicarious liability ", - says Olga Ponomareva. Generally, according to Sergei melanin, has been a recent tendency to increase the value of various legal services. And it is important that the legal services related to bankruptcy, implemented in two main directions is the service organization to the debtor and service organization to the lender. Depending on who is the client (debtor or creditor), in the range of services usually include the organization of the arbitration administrator, representing the debtor or creditor in addressing the bankruptcy case, including when considering the validity of creditors' participation in general meeting of creditors and other services related to bankruptcy. Market participants are services to support the bankruptcy note the overall growth of the culture in solving the cases of financial insolvency. "Due to the increasing level of legal culture customers have become more civilized approach to the elimination of distressed companies, using legal means and minimizing their risks. For this, they need professional assistance to law firms that specialize in this, that, of course, entail a rise in demand for services of this kind, "- says Olga Ponomareva. In addition, as noted by Sergei Melanin in the future will tend to increase the cost of services in this area, as well as specialty companies that provide services in the field of bankruptcy. These trends are directly related to the complexity, and sometimes legal uncertainty of bankruptcy law, as well as the presence of high intellectual costs during the procedure.