Debt collection outside the Russian Federation

In the case where the debtor has moved its assets abroad, most recoverers do not know what steps they should take in order to foreclose on these objects. The Russian Federation has a special mechanism for debt repayment and asset foreclosure.

Each country has its own mechanism for recovery, which depends on the laws of this country, and if the property is located outside the Russian Federation, the FSSP(Federal Bailiff Service) bailiff has no authority to find this property, much less recover it.

The situation when the property (assets) was withdrawn abroad does not mean that the recoverer does not have the opportunity to return these assets or to foreclose on them. This process is quite difficult, requires knowledge of many nuances, but it is absolutely real. Much will depend on how competent a lawyer, including a lawyer of the state in which the property is located, will represent the recoverer

«Sazonov & Partners» provide a full range of legal services for the collection of debts abroad. We have international offices in the UAE and Cyprus.