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Russia's New Bankruptcy Law Favors Banks in Mortgage Foreclosure
A new Russian bill allocates 90% of proceeds from selling a debtor's only mortgaged home to the bank, 5% to other creditors, and 5% to the debtor for relocation; however, the bill's vagueness raises concerns about fairness and effectiveness.
Russia's New Bankruptcy Law Favors Banks in Mortgage Foreclosure
A new Russian bill allocates 90% of proceeds from selling a debtor's only mortgaged home to the bank, 5% to other creditors, and 5% to the debtor for relocation; however, the bill's vagueness raises concerns about fairness and effectiveness.
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