Section 6.3. Bankruptcies in 2012-2013: Growth in the Number of Bankruptcies of Financial Institutions and Individual Entrepreneurs and the Introduction of New Regulations

The overall situation in the field of bankruptcy over the period under consideration was characterized by a considerable rise, in 2012, in the number of bankruptcies and the number of petitions in bankruptcy submitted to and accepted by arbitration courts. Compared to 2011, the number of submitted petitions in bankruptcy rose by 22.4%, to 40,864. At the same time, the number of petitions in bankruptcy accepted by courts of justice increased by 21.2%, to 33,236. However, in the first half-year of 2013, the number of petitions in bankruptcy submitted to and accepted by courts of justice dropped by 25.4% and 21.1% respectively on the same period of the previous year.