As Russia’s invasion of Ukraine continues, governments around the world are coordinating and responding with increasingly severe sanctions and export controls on Russian entities, institutions, and individuals. Insolvency practitioners first wonder whether sanctioned entities, or entities connected to sanctioned individuals, can enter into an insolvency procedure and, if so, how does the insolvency practitioner accept an appointment and get paid? Demystifying these grey areas necessitates an overview of the UK sanctions regime and the carve-outs allowing sanctioned entities to continue with financial dealings in distressed circumstances.
Read the full blog post.