The Westwalk Case and Topical Issues of Cross-Border Insolvency in Russia

The article analyses the relevance and challenges of cross-border insolvency in Russia. The author emphasises the impact of foreign approaches to the regulation of cross-border insolvency on Russian case law. The research focuses on identifying general trends and issues, given the limited number of examples from Russian case law. The author examines key aspects such as the concept of the centre of main interests (COMI) and the interaction between main and secondary proceedings. The author compares some conclusions made by the Supreme Court of the Russian Federation in the Westwalk case with international approaches. This case serves as an important reference point for illustrating existing problems and forecasting future legal practice in cross-border insolvency cases within the Russian legal system. Contemporary Russian law is characterised by the absence of legislative regulation concerning cross-border insolvency. Nevertheless, Russian courts hear insolvency cases involving foreign individuals and, more recently, legal entities. In making decisions on these cases, they refer to the UNCITRAL Model Law and Regulation (EU) No. 2015/848 of May 20, 2015. In conclusion, the author suggests to implement the UNCITRAL Model Law on Cross-Border Insolvency or conclude an international treaty on cross-border insolvency with CIS and EAEU States, with which the Russian Federation has established close economic ties.