July 7, 2021

According to Evgeny Tretyakov: “Further acceleration of bankruptcies in 2021 is supposed to be gradual”

Managing Director of PCG, Evgeny Tretyakov, commented to the Kommersant newspaper on the bankruptcy situation

Managing Director of PCG, Evgeny Tretyakov, commented to the Kommersant newspaper on the bankruptcy statistics for legal entities and individuals.The statistics are provided by Fedresource according to the results of the first half of 2021.

According to the Federal Register, the number of bankrupt entities in the first half of 2021 increased by 9.2%, up to 4,920. Corporate bankruptcies have shown an increase for the first time in four years.

Evgeny Tretyakov attributes such a sharp jump to the lifting of the bankruptcy moratorium imposed after the pandemic began. "It should have been expected that there would be a rebound after some time because the moratorium simply delayed the resolution of the problems," the PCG Managing Director stated. According to him, creditors are close to running out of options for extrajudicial debt restructurings, as a large number of open cases are now represented by insolvent debtors. However, the further acceleration of bankruptcies this year will be smooth, up to 10-20%, Evgeny Tretyakov is confident.

The number of personal bankruptcies is also growing. In the first half of this year, the number of Russians declared bankrupt by the court increased by x2.1, up to 88,000 people, and compared to the same period of pre-pandemic 2019, the growth was 50%. Evgeny Tretyakov attributes the upward trend in the number of bankruptcies of individuals to the relatively low cost of servicing the debt. At the same time, according to the PCG Managing Director, in the future, there may be a tightening of government policy in this area, as there is a risk of an "avalanche" of personal bankruptcies, which will create a greater burden on both the banking and judicial systems.

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