On 28 December 2010, the President signed Federal Law No. 429-FZ amending the Bankruptcy Law. The Law entered into force on 31 December 2010. The Bankruptcy Law provides for the establishment of a publicly accessible state register of information on bankruptcy of Russian companies. Pursuant to the amendments, the Bankruptcy Law requirements to enter information on bankruptcy in the register will apply as of 1 April 2011.

Further, the Bankruptcy Law provides that sales with respect to the debtor's certain assets and the debtor's enterprise as a whole are to be conducted in electronic form, and, normally, via an open auction. Pursuant to the amendments, the requirement regarding electronic form of sales does not apply to open auctions that are announced before 1 October 2011.