The head of the chamber remarked that the new law has failed to deal with "fraudulent bankruptcies." In 2003, for example, 417 such cases were recorded, with 350 materials sent to the law enforcement bodies.
A serious problem, according to Primakov, is "hostile absorption." According to the chamber head, in Moscow alone more than 200 enterprises are objects of "hostile absorption" annually. The methods used in such actions are buying up shares and debt liabilities. "Involvement of judicial and law enforcement bodies in such processes is very dangerous," Primakov said.
He believes that it is necessary at today's conference to analyze the new law on bankruptcies and other legislative acts related to these themes with a view to formulating appropriate amendments.