On March 8 – 10^th , 2007 Mr. A.Terentiev, Deputy Head of the Bankruptcy Legislation Division (Corporate Governance Department) participated in the Conference held in Latvia (Riga) presided by Latvian Agency “Administration of Insolvency” (Agency) on the matters of the organization of the Fund for Guaranteeing Employees’ entitlements in case of Employer’s Insolvency.

Besides issues of Bankruptcy legislation development and International cooperation in the sphere of bankruptcy, Employee rights protection in case of Employer’s Insolvency problem was discussed during this Conference.

Russia presented two reports: “Nowadays Bankruptcy System & Recent developments in Russian bankruptcy legislation” and “Employee rights protection”.

During the visit bilateral meetings were organized with the representatives of the Agency on the topics of possible ways of creation and functioning of the system of guaranteeing employees’ entitlements in case of employer’s insolvency.

The information received at the meetings on the problems encountered during the creation and the financing of the above mentioned Fund in Latvia will allow to avoid similar difficulties in the future when creating such mechanism in Russia.