Moderator: Carol Hoyt, Project Director
In modern conditions the model of the relationship between banks and clients carries certain risks for both parties of legal relations. Current legislation is aimed at reducing these risks, which is manifested in changes of legislation on protection of borrower’s rights in collection of overdue debts and reform of bankruptcy laws. Particular attention should be paid to the analysis of the norms introduced on September 1, 2020, providing for the implementation of mechanisms of extrajudicial bankruptcy of citizens, and the impact of these mechanisms on credit relations. Nowadays the model of subsidiary liability of controlling persons of the debtor by the example of banks is quite relevant. These topics and other related issues will be discussed during the session.