Bankruptcy and Liquidation Services in Russia

Our bankruptcy and liquidation services in Russia can assist your in all phases of the bankruptcy process: pre-bankruptcy strategy and planning, operational initiatives and action plans to address operational challenges and assisting with reporting compliance. 
We have worked with businesses suffering economic pressures to restructure their operations and devise work-out arrangements as an alternative to, or within, non-contentious liquidations and bankruptcies. Unlike much corporate work, bankruptcy often involves dozens or even hundreds of directly interested parties. To reach a mutually acceptable solution, therefore, we identify and assess alternative strategies to move forward in the face of a deteriorating financial position.
 
Our bankruptcy and liquidation services in Russia are tailored to the needs of a particular project.  We perform complex analyses and aid in:
  • reconstructing accounting records 
  • search of unrecorded assets
  • tracing cash and other assets
  • addressing liquidity issues
  • addressing tax issues
  • investigating fraudulent conveyances
  • analyzing preferential transactions
  • evaluating creditor claims
  • providing expert testimony
  • assisting in business reorganizations
  • improving business operations
  • taking on interim CFO or CEO role 
  • providing asset sale support
Irina Molodova
Accounting expert witness Russia
Andrey Sorochan
  • started her career in a national audit company, afterwards, employed by Grant Thornton from 2005 (renamed as Baker Tilly in 2015), where she managed audit, tax, agreed upon engagements
  • acted as a CFO of Terranova group of companies in 2012 – 2018
  • graduated from the Russian Academy of Economics named after G.V. Plekhanov
  • awarded a Russian auditor’s certificate, ACCA DipIFR
  • gained his experience from financial restructuring (World bank projects), audit (EY) and transaction advisory (Deloitte) engagements
  • joined Grant Thornton Russia in 2006 (renamed as Baker Tilly Russia in 2015) where from 2011 he was a partner in charge for M&A transactions, restructuring and investigation services
  • qualified as CFA Charterholder, CPA (NH US), CFE (ACFE), MBA (Maastricht), M.I.Tax (Hamburg)
Bankruptcy is unique from other practice areas, because it combines transactional and forensic practice. Our breadth of experience in supporting deals and investigating engagements makes them ideally suited to operate during turbulent times. No matter how fast the pace, neither quality of work nor client communication is ever compromised. We provide crucial assistance to the stakeholders of distressed companies facing complex issues in the forensic accounting, business valuation, litigation support and expert testimony. Our partners have been called upon to provide testimony in courts on complex business issues.
We represent key parties on all sides of bankruptcy and restructuring matters, including corporate debtors, secured and unsecured creditors, creditors’ committees, and trustees. On the debtor side, we quickly assess the client’s options and devise a workable solution, whether the client is looking to refinance or restructure debt, or to sell substantially all of its assets. On the creditor side, we implement strategies for creditors and creditors’ committees to maximize their recoveries against debtors in an expeditious manner. We also represent trustees in administering complex cases, pursuing litigation against third parties, and selling business assets under a court-sanctioned auction process. Overall, our goal in every engagement is to restructure or liquidate in a way that preserves and maximizes value. 
When it has been determined that maximum value can be achieved for shareholders only through the cessation of commercial activity, we will lead the company through the liquidation process. Our focus here would involve:
  • Pre-liquidation planning: advise/planning to resolve issues by entering liquidation
  • Pre-liquidation audit: statutory audit
  • Liquidation process: guide client through statutory process & advise along the way
  • Asset valuation
  • Asset disposal advise or take active role in asset disposals