Does the law on bankruptcy of individuals have retroactive ? Civil law

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If a person is declared bankrupt in the prescribed manner, he is freed from debt in full. When a bankruptcy case is accepted for execution, charges for any financial transactions are suspended. The debt is fixed, and after the recognition of an individual as bankrupt, it is written off.

The absolute minus of such a procedure is that until the date of completion of the proceedings the person cannot leave the country. He can not also hold responsible positions for three years. Within five years, it is impossible to re-run the bankruptcy procedure.

The law obliges a citizen to inform new creditors of the bankruptcy procedure that took place in the past. For the period of consideration of the case, the arrest of the property of the debtor is not excluded.

A court may recognize a citizen as bankrupt if the amount of liabilities exceeds 500 thousand rubles, and the delay in payments is three months or more. The law provides for the possibility to recognize a person as bankrupt if he foresees a situation in which he is unable to pay the debt.

The completion of the bankruptcy procedure will be considered the decision that the debtor is recognized bankrupt. After that, all of his debts are written off, and enforcement proceedings against the person are terminated. The arrest is removed from the property and accounts, as well as the ban on leaving a person outside Russia, if it occurred.

If the action of a particular law is capable of extending to those relations that arose before its entry into force, then it is said that this law has retroactive effect. The general rule for any situation is: the law has no retroactive effect.

Acts of civil law are applied only to those relations that were formed after the enactment of the law. Article 4 of the Civil Code of the Russian Federation directly indicates this. An exception will be those cases where the text of a law directly indicates that this act is retroactive.

The transitional provisions of the current bankruptcy law do not say that such a law is retroactive. For this reason, this legislation cannot be applied to debts that arose before the entry into force of the law.

Lawmakers and human rights defenders are widely debating the issue of possible amendments to bankruptcy laws. One such amendment concerns the possibility of giving the law retroactive effect. The objection from the opponents of such an approach is as follows: by giving the bankruptcy law retroactive force, the state will actually deprive the creditors of their property in the legal sense. Taking into account the efforts that the state is making to maintain the banking system in a stable state, experts consider such a move unjustified.

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