On 16 April 2026, KIAP, Attorneys at Law, brought together leading legal professionals for an in‑depth round‑table session exploring the evolving landscape of bankruptcy proceedings and their implications for creditors. The event, titled What a creditor really needs to know about bankruptcy in 2026, featured expert insights from Daniil Zherdev, Head of Bankruptcy Practice, Anna Andreyeva, Associate, and Tamara Filinykh, Associate.
The discussion unfolded as a dynamic exchange between speakers and attendees. Participants tackled some of the most pressing challenges creditors face today, including:
- when does entering bankruptcy proceedings make sound business sense, and when might it expose them to disproportionate risks;
- how can they streamline costs and retain control once a company enters the creditors’ claims register;
- what viable alternatives to full‑scale bankruptcy exist;
- and other related issues.
Key takeaways from the session
Cost realities and strategic inaction. Daniil Zherdev opened with a hard look at the financial burdens creditors encounter in insolvency cases. Drawing on detailed cost projections, he demonstrated how the ratio of claim value to procedural expenses often undermines the economic rationale for participation. For those reluctant to engage actively, Daniil offered a pragmatic rule of thumb:
“If bankruptcy has already been initiated, it is better to file an application for inclusion in the register and wait for active actions from others than to do nothing.”
He also distributed a practical checklist for assessing a debtor’s profile — a tool to help creditors decide whether to proceed.
Maximising impact with limited resources. Anna Andreyeva focused on smart strategies for creditors navigating insolvency. She argued that success hinges on two priorities: growing the bankruptcy estate and minimising competition from other registered creditors. Anna highlighted the most impactful types of standalone disputes worth pursuing and stressed that bankruptcy involves more than courtroom battles — ongoing processes demand consistent attention.
Simplified routes and liability beyond bankruptcy. In the second half, Tamara Filinykh unpacked streamlined bankruptcy procedures and extra‑bankruptcy subsidiary liability. She compared alternative debt recovery mechanisms, pinpointing scenarios where they outperform traditional routes. One notable strategy: waiting for a debtor company’s removal from the Unified State Register of Legal Entities (USRLE) before pursuing subsidiary liability claims against controlling individuals.
Presentations from all speakers in Russian are now available in the Analytics section of our website.
KIAP Law Firm extends sincere thanks to all participants for their active engagement and valuable contributions. The depth of discussion underscored the importance of collaborative knowledge‑sharing in this fast‑evolving field.
