Over the ten years that the personal bankruptcy mechanism has been in effect in Russia, courts have declared 2.22 million citizens insolvent.
This was reported by Kommersant, citing data from Fedresurs.
In the first quarter of this year alone, 137,500 people went through bankruptcy proceedings—a 13.7% increase compared to the same period last year.
Despite the five-year ban on repeat bankruptcy established by law, some citizens have already taken advantage of the procedure multiple times. According to the Unified Federal Register of Bankruptcy Information, 7,500 Russians have been declared bankrupt twice, and another 49 people—three…