The government will save jobs in foreign companies that have left the Russian Federation through external management

The Government of the Russian Federation will retain jobs in foreign companies that have announced the suspension or termination of activities in Russia through external management. It is reported by RIA Novosti with reference to the press service of the Ministry of Economic Development of the Russian Federation.

The ministry said in a statement that companies that have left the Russian market, more than 25% of which are owned by foreigners, are invited to enter external management. At his expense, the activities of the organization will be ensured, a register of creditors’ claims will be drawn up, and an inventory, assessment and replacement of assets will be carried out.

The interim administration will be appointed for six months. During this time, the former owner, who wants to return to the management of the company or sell his share, will be able to file a lawsuit demanding the termination of external management.

The Ministry of Economic Development clarified that these innovations are necessary, among other things, to save jobs, as well as to ensure that the company can be quickly sold under sanctions pressure. The department expects that this project will encourage the management of foreign companies not to abandon their activities in Russia.

At the same time, it is specified in the Ministry of Economic Development, external administration will be introduced if the company’s activities, in violation of the requirements of the legislation of the Russian Federation, were actually terminated. In particular, if its management left Russia on February 24 or took the company’s property abroad and can no longer fulfill its obligations.

With regard to credit, pension and insurance organizations, the current legislation already allows the introduction of temporary administration.