03.10.2019

Mortgage or impounded property auctions are going to be held electronically In accordance with the project of The Ministry of Economic Development of the Russian Federation (MEDT of Russia) foreclosure auction might be held only electronically. No matter if the recovery on the property was enforced through a court proceeding or under the mutual agreement of parties. Such sale will take place on electronic trading platform which operators are specified in the special list. The same conditions are going to be implemented under Enforcement Law as for realization of impounded property at public auction.  As expected the transition to electronic trading will allow more potential buyers to participate in it. Document: Draft of Federal Law «On amending separate provisions of legislative acts of the Russian Federation (as applicable to electronic tendering process)»