There are still gaps in the legislation. For example, there is a provision that in the event of reorganization, creditors have the right to immediately present their claims. Perhaps for ordinary enterprises in the real sector this provision is natural, but for banks that have tens and hundreds of thousands of depositors, and in some banks more than a million depositors, it is fatal. Under such conditions, for example, the process of merging banks becomes simply impossible.

MOSCOW - In May 2003, Gazprom signed an agreement with a company affiliated with Germany's Ruhrgas AG to sell 117 million ordinary shares (about 0.5% of the authorized capital) of the company for cash payment of 3.1 billion rubles ($0.86 per share), according to Gazprom's consolidated financial statements for 2002 under IAS.

The Ministry of Taxes and Duties is preparing a lawsuit to liquidate the largest association of insurance companies, the All-Russian Union of Insurers (VSU). The union missed the deadline to apply for permission to use the word "Russia" in its name, and now a government commission has asked the Ministry of Taxes and Duties to take action. The decision to use the word "Russia" and its derivatives in the name is issued by a special government commission.

Satisfaction level: 8%. The entire course of the formation and development of banking activities in Russia shows that asset quality is the main risk borne by banks. The latest data show that the situation in the banking sector of the Russian Federation is characterized by an external improvement in asset quality. According to bank estimates as of 1. 04.

Sun Microsystems, known as a manufacturer of computer and network solutions based on its own original SPARC architecture, recently offered servers built on processors from its archrival, Intel. Last week, Sun announced the start of sales of servers of the so-called standard Intel architecture (x86) in Russia.

"The Problem Assets forum, organized by the state corporation Agency for Restructuring of Credit Organizations (ARCO) with the participation of the Vedomosti newspaper, attracted great interest. More than 250 bankers, representatives of regulatory bodies, auditors and consultants from more than 40 countries gathered there. Participants shared their experience of working with overdue, non-repayable and other problem debts. An eternal theme.

The events surrounding the owners of YUKOS and the rapid growth of stock prices that preceded them forced the investment bank Brunswick UBS to lower its assessment of the Russian stock market from "positive" to "neutral". Most experts agree with Brunswick and expect growth to resume only by the end of the year.

Despite a significant increase in nominal wages, collections of the unified social tax have fallen this year. Tax consultants interviewed by Vedomosti explain this by the fact that, since January 1, 2003, new schemes have been added to the tried and tested legal schemes for avoiding the payment of the unified social tax, allowing the social tax to be reduced to zero.

On Thursday, the government will adopt a new concept for the development of the fishing industry until 2020, the main achievement of which is the abolition of fish auctions, which are currently used to distribute quotas for catching fish and seafood. Fish auctions were introduced two years ago by the Minister of Economic Development German Gref under the slogan of bringing fishermen out of the shadows.

Bad debt crisis. For the second quarter in a row, the quality indicators of Russian banks' loan portfolios have been deteriorating, this is happening against the backdrop of rosy forecasts for macroeconomic development. Unfortunately, during the period of structural restructuring of the economy, rapid growth of GDP does not prevent the development of a banking crisis.

Despite the fact that in the last issue I promised games only on Fridays, today we will also have to play. However, entertainment in its pure form will have to wait, since for now we will talk about a well-known intellectual game with a political slant. True, all the politics are in the name of this chess - www.putin-chess.ru. On the first page, their author - a well-known online figure Twilight of the Gods - tells about himself, and the game itself is at the top.

Boris Berezovsky no longer has a party that could participate in the December Duma elections. The Ministry of Justice refused to register regional branches of "Liberal Russia" according to Berezovsky, recognizing only "Liberal Russia" of Viktor Pokhmelkin as legitimate. According to political scientists, the party of the disgraced oligarch will not be able to participate in the elections.

Methods of settlement. There are several traditional methods of resolving issues related to non-performing assets: quick resolution, individual resolution or restructuring, where the company is simply restructured without selling assets, the banking approach and the decentralized approach. Let's look at the pros and cons of each approach.

It seems that the word " Rosneft " has been working magically for some time now on federal and regional officials who oversee subsoil use issues. For example, the authorities of Krasnoyarsk Krai recently abandoned plans to revoke the license for the development of the large Vankor field. This license belongs to the company "Yeniseineft", which is being fought over by, on the one hand, "Yukos", and on the other - the coalition of "Rosneft" and "Soyuzneftegaz".

Brocard, a major distributor of inexpensive perfumes and cosmetics, is creating elite stores in Moscow and St. Petersburg similar to those the company has in Ukraine. The project has already attracted interest from manufacturers of selective cosmetics. Among them is the largest concern LVMH, which recently severed ties with the Arbat Prestige chain, to which, incidentally, Brocard is a supplier.