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Enterprises of companies that left Russia can undergo expedite bankruptcy — Minister

If a company completely locked doors and left, the situation will be with the use of expedited bankruptcy of about three months, Finance Minister Anton Siluanov explained

MOSCOW, March 14. /TASS/. Enterprises of foreign companies that withdrew from the Russian market can be subject to the mechanism of expedited bankruptcy within the period from three to six months, Finance Minister Anton Siluanov said on the air with the Rossiya-24 TV Channel.

"As regards decisions related to closure of enterprises and withdrawal of companies. We have provided and developed a special mechanism for this purpose - the mechanism of expedited bankruptcy, expedited temporary administration of a company and the sale of such company accordingly to new owners. Such mechanism will be implemented within the period from three to six months, depending on the position of owners of such companies," the Minister said.

This refers to companies "with the foreign participation in the capital of 25% and higher," Siluanov said. "If a company completely locked doors and left, the situation will be with the use of expedited bankruptcy of about three months," he noted.

At the same time, Russia is interested that companies continue operations and keep jobs at enterprises, the Minister stressed.

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