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Amendments to the Bankruptcy law will toughen liability of insolvency officer.
DATE: December 29, 2015 | AUTHOR: atlawyers
Amendments to the Bankruptcy law will toughen liability of insolvency officer. According to the Bill prepared by RF Federal Tax Service an insolvency officer shall be disqualified for a period from 6 months to 3 years in case of repeated breach of duties established by the Insolvency Law. An insolvency officer may also be suspended for one year for inflicting losses to the debtor or its creditors.