FAS REVEALED ILLEGAL COORDINATION OF ECONOMIC ACTIVITIES BY THE ASSOCIATION OF INSOLVENCY PRACTITIONERS

Siberian Center of Anti-Crisis Management Experts faces an administrative fine

It should be reminded that the case against the Association of Insolvency Practitioners "Siberian Center of Anti-Crisis Management Experts" was initiated in February 2023. At that time FAS Russia found that the Association used disciplinary measures against its members for involving non-accredited with it organizations (specialists), providing services during bankruptcy procedures.

The authority found out that the Association established restrictive measures in local regulations. They allowed the involvement of organizations (specialists) exclusively accredited by the Association.

According to the current legislation* insolvency practitioners have the right to involve appraisers, operators of electronic trading platforms and auction organizers accredited in other self-regulating organizations of arbitration managers. At the same time, accreditation of other persons (lawyers, accountants, security organizations, etc) is not required.

FAS Russia found the Association guilty of coordinating economic activities** and issued remedies to stop violations. Association should exclude the relevant provisions from its local regulations.

Besides, the Siberian Center of Anti-Crisis Management Experts faces an administrative fine in accordance with the Administrative Code of the Russian Federation***.

* Article 20.3 of the Federal Law No. 127-FZ of 26.10.2002 "On Insolvency (Bankruptcy)"

** Part 5 of Article 11 of the Federal Law No. 135-FZ of 26.07.2006 "On Protection of Competition"

*** Part 5 of Article 14.32 of the Administrative Code of the Russian Federation