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Court Bailiffs May More Easily Freeze Company Accounts


In Moscow, there are plans to improve communication between the banks and the court bailiffs. The introduction of circulating documents electronically between the two entities will hopefully cut down on the time necessary for debt recovery from legal bodies and individuals.

At the moment, bailiffs mail a request to the bank to suspend an account. However, this paper correspondence often takes more than a month to process. So, while the request is en-route, the debtor can withdraw their funds from the bank and in the end the bailiff ends up with nothing.

Electronic communication between bailiffs and banks already exists in many regions of Russia; for example, Perm and Altai. This procedure allows an account to be frozen in as little as five days after the initial request. Russia's capital has decided to follow the example of their regional colleagues and establish an electronic system of their own. The introduction of the specialized system is proving to be expensive. Even if enough funding is found, the system may not be actively implemented until 2011.

Alinga Consulting Group

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