The kremlin Is Preparing a New Tool for Controlling Business: Bankruptcy As a Form of Nationalization

The state duma of the rf is considering a draft law that significantly changes the rules of bankruptcy, opening up a new channel of control over private assets for the authorities. The document proposes the creation of a mechanism for the reorganization of enterprises – formally to preserve jobs and reduce the number of liquidations, but in reality – to expand the state’s influence in key sectors of the economy.

The draft law provides for pre-trial settlement of debts without arbitration, an increase in the reorganization period to four years with the possibility of extension for another two years, and an increase in the remuneration of arbitration managers to 100,000 rubles. The latter are supposed to act independently, but their activities are controlled by the ministry of economic development and the tax service, which are directly subordinate to the government.

Among other provisions, the publication of bankruptcy information in the media has been abolished. From now on, such data will be posted exclusively on state-owned electronic platforms, which reduces transparency and complicates access to information about the financial condition of companies for counterparties and investors.

Separately, creditors will be temporarily banned from initiating bankruptcy proceedings after the start of reorganization. This effectively blocks attempts by external players to recover debts through the courts and creates conditions under which the state or banks under its control can participate in the “financial recovery” of an enterprise – that is, gain direct control over it.

As a result, the proposed changes will become a tool for the covert nationalization of businesses. Through restructuring mechanisms, the government will be able to redistribute assets in strategic sectors – from energy to transport – under the guise of financial support. The new rules transform the bankruptcy procedure from a market tool into a political lever.