Services to search for debtors and their property to be formed in Russia

Services to search for debtors and their property will be formed in Russia by the end of 2003, Russian Justice Minister Yuri Chaika said at the meeting of the ministry's board on Friday.

"More than 30 per cent of executive proceedings have been terminated because of the impossibility to recover money from debtors. This is too much," Chaika said.

According to him, "it is necessary to introduce changes and amendments into the current federal legislation" to confer more powers on police officers. A bill meeting all contemporary realia is under coordination now, Chaika told RIA Novosti. Chaika expressed hope that the bill will be passed by the State Duma with no difficulties.

According to the data of the Justice Ministry, police officers have not recovered 500 billion roubles from debtors through a legal procedure. They managed to recover only one billion. According to statistics, 1.116 billion roubles were recovered from debtors in 2002, some 400 million in 2001 and about 17 million in 2000 (1 euro = 36 roubles).