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20:08 | Feb 07 | 2013

Head of Yakutia informed that legislation must be improved to make hostile takeover of enterprises impossible

Egor Borisov believes that authorities and bodies of law and order do not take enough measures to prevent hostile takeovers.

“We can think of many enterprises which were deliberately left bankrupt and sank into oblivion along with their assets. However, it is difficult to prove anything because the assets were moved out within legal boundaries. In order to avoid similar situations in the future, the legislation must be improved. This is the task of the Republican authorities. But before any measures are taken, the situation in both small- and medium-sized enterprises must be analyzed carefully,” – the head of the region stated.