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Regular version of the site

Article

The Judgment Lien: A New Tool to Secure Creditor's Rights?

The Moscow Times, Russia. 2014. No. 13. P. 12.
Stubbs T., Vishnevskiy P.

As from 1 July 2014, Russian law witnesses the creation of a new type of pledge – the judgment lien. The Russian Civil Code will allow unsecured creditors effectively to become pledgeholders by obtaining judgments against their debtors. The rules mirror to some extent analogous provisions of US law.  However, they are not entirely clear in their operation. It remains to be seen how courts will enforce them in practice, especially in the context of insolvencies.