Giving his presentation Sergey Lisin discussed two questions that are usually faced by a leasing company (lessor) when a bankruptcy proceeding is instituted against a lessee (supervision, receivership). BGP Litigation counsel paid attention to how the prospects of satisfaction in bankruptcy proceedings depend on the status of the lessor's claim, the principle of division of claims in bankruptcy, challenging a lessee's transactions and a number of other issues.

Denis Savin addressed the importance of VAT refunds for leasing companies and discussed current practice. He explained how the tax authorities check declarations under which VAT refunds are sought and discussed how to prepare for a value-added tax refund.