Federal Law from October 26, 2002 of No. 127-FZ
ON INSOLVENCY (BANKRUPTCY)
Pursuant to the Civil Code of the Russian Federation the present Federal Law establishes grounds for declaring a debtor insolvent (bankrupt), regulates the procedure and terms for implementing insolvency (bankruptcy) prevention measures and the other relations occurring when a debtor is not capable of meeting creditors’ claims in full.
The effect of the present Federal Law shall extend to all legal persons, except for state enterprises, institutions, political parties and religious organisations.