The government of Russian Federation will take steps to solve the financial problems of the Russian companies

September 2008

The Federal service on the financial markets prepared the draft on the statutory funds of LTD and Joint Stock companies’ formation. Now the companies will be able to form the statutory fund by means of offsetting the claims to a company, the companies will be able to pay their debt with their shares.

The actions of a kind were not allowed by law in order to avoid the lathery funds formation. But nowadays one may find the situations when the offset of claims is the only way to pay the debt and avoid bankruptcy.

The amendments, moved by Federal service on the Financial Markets, will affect also the corporate bonds issue. The corporate bonds issue for the amount higher than the statutory fund will be possible. Let us remind that now such operations have to be fully secured.