Article 6 fz 127. Press about insurance, insurance companies and the insurance market. Citizens and IP

Bankruptcy refers to the inability or failure of a physical or legal entity make payments on debts due to lack of Money. The presented process is regulated by the norms of the law. The fundamental legal act that reveals the rights and obligations of creditors and debtors is 127-FZ. The presented article will help to consider the content of the law and its latest changes.

The Federal Law "On Insolvency (Bankruptcy)" was adopted in October 2002. The fundamental goal of 127-FZ is to control and regulate the bankruptcy process of individual citizens or enterprises. The law regulates the procedure and conditions for paying debts to credit institutions and government agencies.

This law applies to legal entities and individual citizens, including individual entrepreneurs. With respect to foreign companies and investors carrying out entrepreneurial activity in the Russian Federation, the provisions of 127-FZ "On Bankruptcy" also apply.

Sale of the debtor's property;
Providing funds to creditors;
Registration and recognition of legal or individual bankrupt.

The last changes to the current law were made on 06/18/10, which entered into legal force from 01.07.2017.

Law text

The federal law "On insolvency (bankruptcy)" consists of 12 chapters and 233 articles.

The structure of the submitted normative act:

General provisions . The content of the chapter presents the main concepts that are used in the text of 127-FZ; the subject of regulation of the law; rights and obligations of participants in credit relations; procedure for considering a bankruptcy case in court.

Bankruptcy warning. The chapter discloses information on how to notify an organization or individual about the insolvency.

Consideration of the case in judicial order . The chapter contains information on the initiation and procedure for conducting proceedings on the issue of bankruptcy in an arbitration court.

observation. The provisions of chapter 4 of the Law number 127 "On Insolvency (Bankruptcy)" disclose the rights and obligations of the debtor, as well as the obligations of the person appointed as an interim head.

financial recovery . The paragraphs of the chapter contain information according to which the participants judicial trial has the right to initiate the process financial recovery companies. The legal act discloses the procedure for introducing measures, the debt repayment schedule, and the procedure for the early return of debt funds.

External management . The chapter of the Federal Law "On Bankruptcy" provides information on the procedure, consequences, and measures of regulation of external management. The rights and obligations of the external manager, the plan for the implementation of measures for the payment of funds are also noted.

Bankruptcy proceedings . The provisions of Chapter 127-FZ disclose the procedure for declaring a debtor bankrupt, the selection of a manager on a competitive basis, the order in which claims are satisfied credit institutions, reporting, powers and removal of the bankruptcy director.

world agreement. The content of Chapter 8 of the Federal Law "On Bankruptcy" contains information on the procedure and rules for drawing up a settlement agreement, the conditions for its recognition, appeal by an arbitration court, termination and the consequences of cancellation.

Features of recognition of the insolvency of individual legal entities.

Features of recognition of the insolvency of individuals.

Procedures applied in the bankruptcy case of a borrower - Chapter 127-FZ contains provisions on the specifics of registration and recognition of the insolvency of liquidated organizations - bankrupt, absent debtors.

Final provisions.

For a more detailed acquaintance with the law, you can see the latest version of 127-FZ "On Bankruptcy".

Recent changes to the Federal Law "On Bankruptcy"

At the end of last year, bills aimed at improving Federal Law No. 127 “On Insolvency (Bankruptcy)” were analyzed. The changes touched upon the issue of bringing to responsibility the heads of bankrupt companies. The amendments entered into force in 2017.

During latest edition changes were made, according to which credit institutions and state structures have the right to recover the property of a bankrupt borrower.

The following persons may file an application for recovery with the court:

Company manager;
Employees of a bankrupt company;
Authorized body.

According to new edition, the debtor will not be able to terminate the case on the basis of Art. 57 127-FZ. The article states that due to lack or insufficiency of financial resources, the case may be suspended or terminated.

Bankruptcy of individuals

If bankruptcy cannot be avoided by an individual, he should send a statement of claim to a judicial institution, in which he must indicate the following information:

Indicate the amount of debt, indicating its components;
Note that an individual is not an individual entrepreneur. This must be confirmed by a certificate issued by the tax office;
Indicate that the money was not taken for business purposes;
Describe the existing property. At the same time, documents confirming that the citizen owns property rights should be attached;
Information about children, if any;
It is also necessary to indicate data on the income and inevitable costs of the debtor.

Negative consequences for the debtor:

It is forbidden by law to acquire new property;
It is impossible to draw up agreements on alienation;
All bank accounts of the debtor are closed;
It is impossible to open a new bank account on your own;
An individual cannot be a guarantor or guarantor;
According to the Federal Law “On Insolvency (Bankruptcy)”, a ban on leaving the country is imposed;
If the stage of implementation of the court decision is introduced, the citizen may lose all his property.

Positive consequences under the Bankruptcy Law:

During the execution of the process, interest is not charged on the amount of the debt;
The citizen will be left with the necessary property and funds.

Bankruptcy of legal entities

Send a claim to the right of the following persons:

Debtor;
Representatives of the creditor organization;
Representatives of authorized bodies.

In order for an application to be accepted and a case initiated, the following grounds are required:

Debt over 100,000 rubles;
The debtor has not paid the debt for more than three months .

The bankruptcy procedure of a legal entity is divided into the following stages:

Observation . The financial situation in the company is analyzed and studied;
Appointment and work of an external arbitration manager . He controls the order of providing procedures and is responsible for the safety of property during the trial;
Wellness . During the presented stage, the possibility of saving the company is being studied;
External case management. The company is run by a citizen appointed by the court;
Bankruptcy proceedings . The sale of the property of the company to pay off the debt is carried out on the basis of the provisions of this law.

If an arbitration court has declared a legal entity bankrupt, the following consequences occur:

All employees leave;
The leaders of the company are removed from the management of the organization. In their place, a representative appointed by the court is sent, who is engaged in the sale of the company's assets;
On the basis of the Federal Law “On Insolvency (Bankruptcy)”, penalties and interest are not charged on the debt;
The amount of tax debt is written off;

Information about the company is excluded from the Unified Government Register of Legal Entities.

Reading time: 10 min

FZ-127 "On financial insolvency» regulates such an important aspect as the procedure for declaring an entity insolvent, or bankrupt. The regulatory legal act details the key provisions of the Civil Code on this issue.

Dear readers! Each case is individual, so check with our lawyers for information.Calls are free.

Structure and content of FZ-127

FZ-127 defines the grounds for recognition of a citizen. It establishes the procedure for settlements between the debtor and creditors, including the rules for collection and the sequence of debt repayment.

The current version of the law, taking into account the amendments of 2015, allows you to declare your bankruptcy:

For individuals who were not engaged in entrepreneurial activity.
For legal entities.

According to the changes that came into force in October 2015, ordinary citizens were also allowed to go bankrupt.

Previously, it was legally allowed to declare bankruptcy only with the status of an individual entrepreneur. An updated chapter 10 has appeared in the law, which is devoted to the bankruptcy of individuals.

The normative legal act under consideration consists of 12 chapters and 233 articles. The first chapter provides general provisions of the insolvency law, defines the rights of the parties to the process in the process of recognition of insolvency or debt collection.

The second chapter describes preventive measures to prevent bankruptcy. The third chapter regulates the specifics of bankruptcy proceedings in arbitration.

The following chapters contain features of the application of procedures for supervision, external management, financial recovery and bankruptcy proceedings. It should be noted that these procedures do not apply to individuals, they are typical only for companies. Ordinary citizens can only go through the procedure or the sale of property in the course of a bankruptcy case.

Separate chapters are devoted to the settlement agreement between the parties and the features of the recognition of financial insolvency certain categories debtors. The law also contains transitional and final provisions.

Fundamental Norms

The fundamental norms regarding the bankruptcy of citizens are given in chapter 10 of the law in Art. 213.1-213.32.

FZ-127 has an extensive area of regulation. Consider the most important provisions of bankruptcy law:

An individual can be declared bankrupt only by decision of the arbitration court(ordinary world and district courts they don't do those things). Jurisdiction is defined in Art. 6 FZ-127.
The law determines the procedure for bankruptcy: a person can be recognized financially only in a judicial proceeding. banks, tax inspections, MFIs and various legal entities do not have the authority to declare a person insolvent.
In Art. 8 indicates cases when an individual is entitled to file an application for recognition of his own financial insolvency, and also when this is his direct responsibility.
Art. 33 establishes the rights of the creditor to initiate bankruptcy proceedings, but the conditions for its appeal are strictly regulated, and the list of possible grounds is exhaustive.
In Art. 158 spelled out the possibility of concluding a settlement agreement between the parties.
The law establishes signs of bankruptcy. These include a debt in the amount of 500 thousand rubles, the presence of a delay of 90 days or more.
Separate provisions indicate cases when a debt restructuring procedure is introduced, and when - the sale of property (the law establishes only two possible procedures for individuals). After the proceeds cover the debt, the individual is no longer considered a debtor to creditors (Article 213).
The law contains a list of consequences of declaring an individual bankrupt and the consequences for the citizen from the moment of the first hearing in the case.
In Art. 213.30 provides for the obligation of an individual to notify financial institutions about your bankruptcy. The law also introduced a ban on initiating a new insolvency case from the same person upon his application.
The law defines the duties and powers of financial managers in the course of bankruptcy proceedings. They have the right to file petitions, manage financial assets, check debtors for good faith and fictitiousness, collect creditors and take stock.

Law changes

During the operation of FZ-217, changes were repeatedly made to it, but no cardinal changes were recorded.

So, when the law on bankruptcy of individuals came into force, the amount of remuneration for financial managers was 10 thousand rubles, but in June 2016 it was revised to increase the interest of professional managers in the procedure for recognizing the insolvency of individuals (previously they received complaints about that the amount of remuneration does not correspond to the responsibility assigned).

Now the remuneration for financial managers is set at 25 thousand rubles. for one procedure. Also, the amount of bonuses for the sale of property for the manager is not 2%, but 7%. At the same time, starting from 2017, amendments were made to the Tax Code: the state duty for individuals was reduced by 20 times: from 6,000 rubles. up to 300 r. (previously the size of the state duty for individuals was the same).

A rather expected change in the insolvency procedure is the introduction of simplified bankruptcy for citizens with relatively small debts. But such changes in FZ-127 still have the status of a bill. According to him, simplified bankruptcy will be available for citizens with debts up to 700 thousand rubles. and if the number of creditors is not more than 10.

The terms for the simplified procedure will be up to 120 days. It will be possible not to involve the manager in bankruptcy. The initiative to start the procedure can only come from the debtor himself.

Another innovation proposed by legislators is to entrust the functions of legal advice and preparation of applications for initiating bankruptcy proceedings to specialists.

In this way, significant changes was not included in 127-FZ.

How the Personal Bankruptcy Law is Applied

Bankruptcy, or financial insolvency, is a legitimate opportunity for citizens to get rid of bad debt once and for all. In fact, this is a rehabilitation procedure for citizens who find themselves in a difficult financial situation and have large ones.

The following grounds for declaring a person bankrupt are legally established:

The presence of debt in the amount of 500 thousand rubles.
Delay on credit obligations from 90 days.

These reasons are conditional: citizens have the right to initiate their own bankruptcy if they have reason to believe that they will no longer be able to repay their debentures. Specific circumstances are not specified by law, the courts decide on the validity of initiating insolvency proceedings by a citizen on their own.

It is worth noting that in many sources the requirements for bankrupt citizens under 127-FZ are not interpreted quite correctly: it says here that in order to apply for bankruptcy, the debt must exceed 500 thousand rubles.

But from Art. 213.6 127-FZ, we can conclude that there are other prerequisites for declaring an individual insolvent:

If the borrower terminated payments from.
If the total value of the property owned by the debtor is less than the amount of the debt.
More than 10% of all obligations and obligations of the debtor were not fulfilled by him within a period of more than a month from the expected date for debt repayment.
The debtor does not have any valuable property at all owned.

The procedure for declaring a citizen bankrupt involves the following steps:

The debtor or his creditors file an application for declaring a person bankrupt to the Arbitration Court at their place of residence. The application shall be accompanied by supporting documents on the amount of debt, the reasons for the deterioration of the material condition of the individual, his property, the amount of income, etc.
The date of the first court hearing is set.
Chosen financial manager. In his application, an individual can indicate the candidacy of the manager or indicate the SRO, of which he will be a member. Bankruptcy is not possible without a financial manager. It should not be an interested person in relation to creditors or the bankrupt himself.
The court introduces one of the procedures for the debtor: restructuring or selling property. If the bankrupt has stable sources of income that are documented, the court may appoint a restructuring procedure, and the further procedure will be based on the norms of Art. 213.11-23 127-FZ. Restructuring involves the development and approval of a comfortable schedule for the debtor for up to 3 years. If a citizen conscientiously transfers all payments according to the schedule and closes the debts, then the matter will not reach the implementation stage, and he will not receive the status of a bankrupt and all the negative consequences associated with it. But this stage can be skipped, and the court has the right to immediately proceed to the sale of property.
Based on the results of the sale of property belonging to the debtor, the money supply is formed, which goes to pay off debts to creditors. The funds are distributed by the financial manager in accordance with the priority established by law.
After passing the procedure for the sale of property, an individual is declared bankrupt, and the balance of the debt is written off from him. The procedure may end with full or partial repayment of obligations to creditors.

Parties to a bankruptcy case

Any insolvency procedure affects a wide range of people. To the parties of the bankruptcy case of an individual, subject to the provisions of Art. 34 can be attributed to:

Debtor- an individual who has formed a debt on financial obligations and there is no opportunity to secure them.
Lenders- organizations and institutions to which a potential bankrupt has a debt. These can be banks, microfinance organizations and individuals or legal entities that have lent money to a debtor under a civil law contract or on receipt.
Authorized bodies. it budget institutions, to which the debtor has debts for .
financial manager. He is assigned by law important role during bankruptcy proceedings: control over transactions, assessment of the debtor for signs of intentional bankruptcy, organization and conduct of tenders, reporting to the court on completion separate stage procedures, etc.

It is worth noting that the initiative to declare an individual bankrupt can come from both the debtor himself and the bankruptcy creditor or an authorized body. This is indicated by paragraph 1 of Art. 213.3 FZ-127.

The procedure for the sale of property

It should be borne in mind that bankruptcy cases are not limited to going through the procedure for selling property to pay off obligations to creditors. The court may introduce a stage of debt restructuring, or the parties may sign a settlement agreement.

The sale of a citizen's property is an extreme measure of the financial insolvency procedure. It is introduced in relation to the debtor in the following cases:

He does not have permanent income or their size is so small that he does not allow making monthly payments (after which the debtor has money to live on in the amount of less than the subsistence level).
None of the parties provided a restructuring plan within the stipulated time.
The citizen committed repeated violations of the schedule restructuring.
The court did not approve the proposed schedule(it was unreasonable, contained errors, etc.).
The meeting of creditors made a negative decision based on voting results for the restructuring plan.
As a result of the implementation of the plan, it was not possible to repay all debts.
The person violated the terms of the settlement agreement and the bankruptcy case was reopened.

The stage of selling the property of an individual involves the passage of the following stages:

Formation of the competitive mass.

All property of the debtor, which was formed on the date of the adoption of the court decision, is subject to inclusion in the bankruptcy estate. The exception is property, which, according to the law, is not subject to collection. At this stage, the manager conducts an inventory of all the property of the debtor.

Bankruptcy estate adjustment.

The passage of the bankruptcy procedure by the debtor does not mean at all that he will lose all his property. This is due to the fact that not all property is suitable for bankruptcy estate. The list of property that is expressly prohibited from foreclosure under Article 446 of the Code of Civil Procedure includes:

the only housing(including and below it). This requirement does not apply to real estate that is pledged;
household items and home furnishings;
things for personal use;
money in the amount of the debtor's living wage and his dependents.

Also, the court may exclude from the bankruptcy estate other property with a value of less than 10 thousand rubles, if the income from its sale cannot significantly affect the satisfaction of creditors' claims under paragraph 2 of article 2 13.25 of FZ-127.

Property valuation.

Property valuation is also the responsibility of the manager. necessary to determine the initial price of the property during the auction. In relation to technically complex property, external experts may be involved in the assessment. Expertise will also be required if the debtor himself requested it.

Direct sale of property.

The debtor's property, which has been described and evaluated by the financial manager, is sold at special auctions. This is spelled out in paragraph 3 of Art. 213.26 (unless otherwise provided by the meeting of creditors).

Jewelry, luxury goods, movable and real estate with a cost of 100 thousand rubles. to be sold at open auction. The rules of sale are written separately. They are established in Art. 110, in paragraph 3 of Art. 111 and Art. 134.

The fact is that through the sale of such property, the requirements of secured creditors are mainly satisfied.

Repayment of debts to creditors.

Obligations to creditors are repaid in a certain order in proportion to their claims.

If during the procedure property that was jointly owned was sold, then 50% of the proceeds must be returned to the spouse, and the second half is distributed among the creditors.

Return of property to the debtor.

According to the current procedure, the property that the manager failed to sell, and which the creditors refused to accept as debt repayment, is returned to the bankrupt through the signing of the acceptance certificate (according to paragraph 5 of article 213.26). That is, he is restored to his property rights.

Manager's reporting.

Based on the results of passing through the stages of inventory, evaluation and sale of property, the manager reports to creditors. Based on the results of the sale of property, reporting is submitted to the Arbitration Court. If the judge satisfies her, then the process is considered completed, and the individual can start a new life without dogs.

Consequences of the procedure

After the first meeting in the bankruptcy case was held, and the application of the individual was found to be justified, the following consequences occur (under Article 213.35):

Creditors are prohibited from transferring claims to a debtor. All interaction with him should take place only through the mediation of the court.
Claims of creditors for making mandatory payments, except for current ones, are no longer satisfied.
The amount owed is frozen, interest and penalties cease to accrue.
All interaction with is terminated.
Enforcement proceedings on the issued court orders suspended(except for the cases listed in paragraph 2 of Article 213.11).

The above are the positive aspects for the debtor of going through the bankruptcy procedure. But it is not without a whole range of negative aspects for him:

The debtor is limited when concluding individual transactions for the acquisition and alienation of property, its transfer as collateral, obtaining and issuing loans.
He will not be able to act as a guarantor or guarantor, assign the right to claim (according to paragraph 5 of article 213.11).
When a citizen is declared bankrupt, he loses his rights in relation to the property included in the bankruptcy estate. All of it must be implemented for further settlements with creditors.
The debtor loses the right to dispose of his money, he transfers to the financial manager all his bank cards(even if they are paid a salary).

The list of consequences for a citizen as a result of going through the bankruptcy procedure includes (according to Article 213.30):

The court may impose a ban on the debtor's departure from the country(the time interval is set by the court individually).
A person is obliged to report the fact of his financial insolvency when trying to obtain a new loan or loan within 5 years (in fact, this means closing access to borrowed money).
A citizen is not entitled to apply for re-bankruptcy within 5 years even if there are reasons for it.
Prohibition to occupy leadership positions of legal entities, prohibition to establish one's own business and opening a sole proprietorship for three years.

Other Important Provisions

The law provides for the right of the debtor to request the court to grant him a deferral of payment state duty and on making a court deposit remuneration to the manager in the amount of 25 thousand rubles. The debt under the specified cost items can be repaid based on the results of the auction. Due to the difficult financial situation of the debtor, the courts often meet them halfway.

In addition to the fact that 127-FZ secures citizens the right to initiate bankruptcy proceedings, it also spells out their obligation to file such statement of claim if, after settling with one or several creditors, they cannot repay the claims of other creditors, and the total amount of the debt exceeded 500 thousand rubles. This requirement is contained in paragraph 1 of Art. 213.4 127-FZ. For non-compliance with this obligation, an individual faces not only administrative responsibility in the amount of 1-3 thousand rubles. according to the norms of Part 5 of Art. 14.13 of the Code of Administrative Offenses, but also one more negative consequence. If his creditors file an application for declaring such a citizen bankrupt instead of himself, then as a result of this procedure, the debt will not be written off from him under par. 2 p. 4 art. 213.28.

127-FZ specifically states that not all debt obligations are written off as a result of the procedure. The following debts are not subject to forgiveness:

compensation for damages to health;
subsidiary liability.

Article 213.32 secured the right of the manager to challenge transactions for the alienation of property that were concluded within 3 years before the start of the bankruptcy proceedings. We are not talking about all civil law transactions, but only about those that the manager considers sham and aimed only at reducing the property mass, which could be sold to pay off debts. These are, for example, transactions with close relatives or concluded on clearly unfavorable terms (at a reduced cost).

Thus, FZ-127 regulates in detail the procedure for recognizing the bankruptcy of individuals. It began operating on the territory of the Russian Federation in October 2015. Thanks to the amendments to the bankruptcy legislation through the adoption of FZ-476 of December 29, 2014, an application for recognition of financial insolvency can now be submitted not only by legal entities, but also by ordinary citizens. 127-FZ strictly regulates the requirements for debtors and the procedure for recognizing their insolvency. After going through the bankruptcy procedure, the debt from an individual is subject to write-off, even if his obligations to creditors have not been repaid in full.

Updated 07/03/2019

2019-03-16T15:54:02+03:00

What are the changes in federal law about insolvency in 2019? The nuances of Article 65 of the Civil Code of the Russian Federation and Federal Law 127 on the bankruptcy of individuals and legal entities in the latest edition. Stages of recognition of bankruptcy and rehabilitation of an individual, legal regulation, paradoxes of the current Russian legislation, practice of arbitration courts of the Russian Federation

Bankruptcy has been legally regulated in our country since October 2002. Since then, bankruptcy law has changed many times. Since the fall of 2015, it has been supplemented by a section on the insolvency of ordinary fellow citizens. The protracted economic crisis forces the deputies to constantly improve the document. How to become bankrupt in our country, what are the latest changes to Federal Law 127 on insolvency (bankruptcy) of 2019 - we read in our material.

Structure of 127-FZ

The size of the document is impressive: it is presented in twelve chapters containing 233 articles.

Begin with general provisions, revealing the terminology of bankruptcy, the rights and obligations of participants in the procedure and other introductory points. And then the details of the bankruptcy procedure are consistently covered in relation to organizations (construction, financial, strategic, agricultural, city-forming, etc.), individual entrepreneurs and ordinary Russians.

The bankruptcy of ordinary citizens, in particular, is covered by the tenth chapter of the document.

The law names the actors, direct participants in bankruptcy:

A debtor is a company or person that is more than three months behind on regular debt payments.
Creditors are people who lent money to the borrower, but did not wait for the return, this is the party that suffered in the bankruptcy case. The law of insolvency and bankruptcy of individuals divides creditors into ordinary and bankruptcy creditors - entered by the arbitration manager in a special register of creditors. They, unlike ordinary lenders, actively participate in the bankruptcy case, have a voice at the meeting of creditors, and influence the development of events.
This document refers to the arbitration manager as a bankruptcy specialist, who is entrusted with the duty to manage all the remaining assets and property of the debtor until the logical conclusion of the bankruptcy case.
There is a term "authorized state bodies" in the law. We are talking about the Federal Tax Service, the Pension Fund of the Russian Federation, the Social Insurance Fund and other organizations whose interests are directly affected by the bankruptcy of the debtor.

What does bankruptcy law govern and when does it apply?

Federal Law 127 on insolvency (bankruptcy) contains not only a consistent description of the bankruptcy procedure, instructions on how to write an application, what documents will be required, but also speaks of measures to prevent the ruin of citizens and organizations.

The document is relevant for ordinary compatriots, individual entrepreneurs and legal entities in a difficult financial situation. Here are also the organizations in relation to which the current bankruptcy law cannot be applied:

enterprises and institutions owned by municipalities;
Rostec, Vnesheconombank, Roskosmos, Avtodor and other state-owned companies and corporations;
state public companies;
political parties;
religious associations operating on a non-commercial basis.

The bankruptcy procedure is initiated either by the debtor himself (in a situation where he is obliged to do this by law, or voluntarily), by any of his creditors, representatives of the Federal Tax Service and others. authorized bodies. AT court of Arbitration at the place of registration of the debtor, individual entrepreneur or location of the company, an appropriate bankruptcy claim is sent. With this step, the legal regulation of bankruptcy begins.

Signs of bankruptcy among citizens and individual entrepreneurs

Before the obligation arises to file an application for bankruptcy to the arbitration court, individuals and individual entrepreneurs (Article 213.3) must “accumulate” debts in the amount of half a million rubles (legal entity - three hundred thousand rubles, Articles 3, 4, 6, 8, 9 of the Federal Law on bankruptcy) overdue for more than three months. At the same time, their own income and assets available to the candidate for bankruptcy, property, even if everything is sold, should not be enough to cover all debts.

If there are fewer debts, but the debtor is sure that it will not be possible to repay them, and after all the monthly payments on loans, he has an amount less than the minimum wage, in such a situation there is also every reason to apply to arbitration. It is no longer a duty, but a right.

What is insolvency, types of bankruptcy

Bankruptcy is distinguished by the reasons that prompted the debtor to declare it:

Real (genuine) bankruptcy. When, without any cunning on the part of the debtor, a claim is submitted to arbitration about a really sad state of affairs. There are all the main signs of bankruptcy, and they are documented. The result of such bankruptcy is the sale of the remaining property of the debtor, the cancellation of debts, the termination of the legal entity, if we are talking about the bankruptcy of the company, and some defeats in the rights of a bankrupt individual for a period of 5 years.

Temporary or technical bankruptcy. The situation with non-repayment of debts has developed due to certain external circumstances. Suppose someone did not return a large receivable on time, a major contract fell through, suppliers failed, and other temporary circumstances. The firm works, but problems with payment of salaries, return of credits begin. After the reorganization, the company returns to the system of creditworthy organizations. As a matter of fact, business does not reach official bankruptcy.

Conscious (deliberate, or premeditated) bankruptcy. The debtor takes loans, knowing that he will not bother with their return. Money is transferred to offshore companies, property is registered for nominees. Accounting reports are falsified, expenses are overestimated, incomes, on the contrary, are underestimated. The appearance of insolvency is artificially created. You can sit down for such bankruptcy due to the application of articles -197 of the UKRF.

Bankruptcy of an individual

The law on declaring a natural person completely bankrupt obliges compatriots, if three conditions coincide (half a million debts, a three-month delay and lack of property, including collateral), to file an insolvency claim in arbitration. Absolutely all monetary obligations are summed up: from a fine for improper parking to taxes and bank loans. All bankruptcy claims will be considered within the framework of one case. Upon completion of which and the cancellation of debts, the bankrupt will not owe anything to anyone. According to the Federal Law on insolvency (bankruptcy), the procedure for an individual can last from seven months to three and a half years.

Pleasure is not cheap. According to the data for 2018, the average price list for the bankruptcy of an ordinary citizen in Russia was about one hundred - one hundred and twenty thousand rubles.

After bankruptcy, a civilian is required to provide bankruptcy information to all his new counterparties for five years. Three years it will not be able to work as the head of legal entities, confirms the bankruptcy legislation.

Bankruptcy of a legal entity

The current amendment to the law on insolvency (bankruptcy) of legal entities in 2019 allows organizations to declare bankruptcy with a debt of 300 thousand rubles with a delay of three months, including salary - from 1 month.

The right to file a bankruptcy claim is vested in managers, owners, the Federal Tax Service, the Pension Fund of the Russian Federation, the FSS, the prosecutor's office, and other creditors (for example, employees who have not been paid wages).

Arbitrators, in without fail accompanying the bankruptcy procedure at all its stages, have little interest in saving the enterprise. The Federal Law on bankruptcy (ruin) of legal entities 2019 allows creditors to choose a manager, and most importantly, to quickly sell the property of a bankrupt and at least partially repay the debt. In addition, a bankruptcy fee of 30% of the proceeds after the auction is more attractive to financial management than the monthly salary of 30 thousand, which is due during bankruptcy.

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The Law on the Complete Bankruptcy of Legal Entities of 2019 obliges a bankrupt enterprise to pay off debts on wages and other payments to workers in the first place.

State-owned companies also go bankrupt, but due to other legal status debts for them are covered from the state budget. The bankruptcy process stretches out to more than three years, but there is a simplified version of bankruptcy, when bypassing the rehabilitation stage, the court immediately appoints an auction. Six months - and the company does not exist.

In addition to 127-FZ, the bankruptcy of legal entities is considered by Article 65 of the Civil Code of the Russian Federation.

IP bankruptcy

The Insolvency (Bankruptcy) Law also describes the procedure for declaring bankrupt individual entrepreneur. The IP debt to creditors must be at least 40% higher than the value of its assets (both personal and commercial). Amounts from ten thousand rubles to each lender and from half a million in total. The number of creditors is not limited. Bankruptcy is declared only if there are financial debts, “in-kind” debts are not taken into account.

The average price for the bankruptcy of an IP carried out according to the full scenario is over 200 thousand rubles. If the court immediately appoints an auction, you can meet 50,000.
The bankruptcy of an individual entrepreneur means its liquidation, exclusion from the register. In the next 5 years, he will not be able to do business.

Simplified bankruptcy for individuals

In order to reduce the costs of the bankruptcy procedure for ordinary citizens, deputies want to adopt a simplified scheme that will only apply to individuals. When the new rules will supplement the law on insolvency (bankruptcy) is not yet known, possibly until the end of 2019.

What are the terms proposed by the legislators?

Recognition of a person as bankrupt according to the “simplification” will become available only to an ordinary citizen. Sole proprietorships and legal entities will not be affected by the innovations. But creditors are allowed to insist, to require the court to proceed to the standard bankruptcy procedure.
It will be possible to declare yourself bankrupt, having obligations from 50,000 to 700,000 rubles. Overdue by six months or more.
The number of creditors will be limited to ten entities.
The debtor's salary is from three minimum wages.
There will be no arbitration managers. This will give serious savings in case of bankruptcy, but how to do everything without financial law is a big question. Debtors are usually not very competent in such matters.

Important

Simplified bankruptcy for individuals will reduce the cost of the procedure by at least 25,000 rubles - this is today the minimum cost of the services of arbitration managers.

The scheme will be simplified due to the refusal of restructuring (rehabilitation).
Bankruptcy under the simplified version more than once a decade will not work.
Individuals with a criminal past (crimes under economic articles) will not be allowed to pass the simplified tax system.

If the law on bankruptcy of individuals is supplemented with such amendments, many will decide to take this step, because the majority of citizens who find themselves in a difficult situation today are restrained precisely by the prices of bankruptcy.

Who can be declared bankrupt?

Art. 213.3 of Law 127 FZ on insolvency (bankruptcy) speaks of the signs of insolvency, the presence of which obliges to apply to arbitration:

total debt of half a million;
three months or more payments on loans were not made.

Important

Having proved your insolvency to the court, you can become bankrupt and not having debts of more than five hundred thousand rubles. It is enough to attach to the bankruptcy petition documents proving that the amount of the debt significantly exceeds the income and value of the debtor's property.

If, after paying off all monthly payments, a compatriot has less than one subsistence minimum for his soul, he is declared bankrupt under the Federal Law on the complete bankruptcy of individuals.

Don't bankrupt them

Not all organizations can go bankrupt. Who cannot become a defendant in a case under the Federal Law on the ruin (bankruptcy) of legal entities?
Art. 65 of the Civil Code of the Russian Federation, among those organizations that are not threatened with bankruptcy under any circumstances, names:

state-owned companies with the status of public companies;
industrial (state) plants, factories, etc.;
state, municipal departments;
political parties;
organizations whose sphere of activity is religion.

Important

State-owned companies and funds can go bankrupt only if there is a corresponding clause in their statutory documents about this.

Registration of bankruptcy, stages of the procedure

Any bankruptcy begins with the collection of the necessary documents and a visit to the local arbitration with a relevant application. In addition to a personal visit, options are available with sending an application and a package of papers by registered mail with a description of the attachment. If the debtor has a qualified electronic signature, you can also do this through the site https://my.arbitr.ru/.

Application (claim) for bankruptcy

The articles of the Bankruptcy Law contain detailed description How to File a Bankruptcy Claim.

Bankruptcy Form:

Download the bankruptcy application form in .pdf format:

Upon receipt by the arbitration court, the application is registered and scrupulously checked. If the insolvency of the applicant is confirmed, and the claim is drawn up and executed correctly, a bankruptcy case is opened. Does the court have doubts? Cases are not opened, and the plaintiff is denied consideration of the application.
The law on the recognition of the fact of bankruptcy does not allow a citizen, an individual entrepreneur, or a legal entity to quickly go bankrupt. Bankruptcy is a gradual process. How many there will be in total depends on the nuances of a particular case. Having examined them, the court may appoint:

observation stage (only for companies, firms, industries, it is not available in case of bankruptcy of individuals);
reorganization (in relation to the bankruptcy of individuals and individual entrepreneurs, this stage is called debt restructuring);
introduction of external management (optional step);
bidding on the property of a bankrupt, or bankruptcy proceedings;
a variant of a settlement agreement (if the parties decide to agree amicably by concluding an appropriate agreement. The idea of concluding it can come to the parties at any stage of bankruptcy, but before being officially declared bankrupt).

Stage One: Observation

The Law on Insolvency (Bankruptcy) of Legal Entities interprets this stage as preparatory. It takes time to conduct a complete analysis of the company's activities, and so that no one interferes with this. An arbitration manager becomes an observer (at this stage he is called an interim manager), approved in this position by the arbitration court. The company continues to operate as usual, but the management transfers part of its rights to the manager.

Features of the observation period:

as soon as a bankruptcy case is started, a temporary ban is imposed on all penalties: neither bailiffs nor debt collectors bother the debtor, but he gets time to calmly rectify the situation;
seized property is available for transactions with it, however, under the strict control of the manager;
all decisions regarding the future activities of the company are made by the meeting of creditors.

The interim manager is responsible for his actions only before the arbitration court, he is endowed with unlimited powers, has access to all information related to the debtor's business. Seven months - the period of the observation stage (FZ on insolvency (bankruptcy) current edition 2019).
After the expiration of the monitoring period, the temporary right draws up reports and submits them to the meeting of creditors and the court. The report contains analytics financial condition the debtor, the reality of the chances to pay off the debts, the proposals of creditors, their vision of the situation. The court, focusing on this document, decides on the next stage of bankruptcy.

Stage two: Sanitation

This is a real attempt to reanimate the company. Finuprav draws up a financial recovery plan, presents it at a meeting of creditors and, after agreement, to the court. The plan may include the following measures:

refinancing loans on softer terms;
conducting transactions with existing assets and real estate, which can bring additional money;
claiming the return of receivables;
proposals for optimizing production in order to save and increase profitability;
other measures to find additional sources of money.

While the reorganization is going on, penalties for overdue loans are not charged, shareholders do not receive dividends, and the arrest on the property of the company is removed.
The enterprise will recover no more than two years. The lack of positive developments brings bankruptcy recognition closer. By the way, in Kazakhstan a similar law officially sounds like this: the law on rehabilitation and bankruptcy. The word "rehabilitation" is key.

Stage three: External management

If, after studying the readjustment report, the court has hope that the debtor company is fully capable of paying off, it appoints an external manager instead of the removed former management. The term of appointment is one year. An extension of the term (according to objective indications) for another six months is available.

For the period of activity of the external manager in the role of the head of the company, a ban is imposed on satisfying credit requirements. The company is not paying bills. New leader receives all documentation from the old one, including accounting reports, seals, electronic signature keys, etc. within three days.
The new top manager develops a plan to get the company out of debt, it is discussed and corrected at a meeting of creditors and approved in court. The plan contains specific proposals, deadlines, expected profits and associated costs.

Typically, the following ways of salvation from bankruptcy are offered:

changing the profile of the company to a more profitable one;
change in the structure of the company, closure of departments, production facilities or their merger;
collection of receivables;
partial sale of the company's property;
price changes that increase demand for the company's products;
attracting new investors;
issue of additional blocks of shares.

Moratorium on repayment of claims

This prohibition allows the debtor to legal basis temporarily not pay on writ of execution. The measure does not apply to current payments and obligations for wages, harm to health, payment moral damage, royalties, in a word, for those debts that even bankruptcy cannot be written off ..
Penalties, fines and penalties on payments to the Federal Tax Service, the Pension Fund of the Russian Federation and the FSS are frozen.

For all loans for the period of external management, the rate is equal to the refinancing rate of the Central Bank of the Russian Federation.

Stage four: Bankruptcy proceedings

This is the end of bankruptcy. It is officially announced court decision. The property of a bankrupt is sold at auction, the money goes to pay off obligations in order of priority. Didn't have enough money? Alas, creditors will not receive anything else, the court decides to cancel all debts (except those payable in any case). The legal entity no longer exists, information about its closure is published in a single register. The law on declaring a legal entity bankrupt has been executed.

The procedure takes up to one year. However, if the auction drags on, the time can be extended by another six months.

Declaring a legal entity bankrupt by a court entails certain legal consequences only if fraud, negligence, evil intent in the actions of the company's management. Guilty top managers and founders can spend the next few years logging in accordance with Art. 195-197. UKRF.

Stage Five: Settlement Agreement

This stage may not exist at all, but if it comes to it, all other stages of bankruptcy will not be needed: the parties will agree on when and in what amounts the debtor will pay in full. And the bankruptcy case will be suspended and closed if the terms of the settlement agreement are met. Not? The case will be resumed, and then the unfortunate man cannot avoid bankruptcy. After a violation of the settlement agreement, it is unlikely that anyone will offer him restructuring or other debt relief. The terms of the contract are set by the parties themselves when it is concluded.

Example

The company owes more than half a million rubles to creditors. But warehouses are filled with finished products, which no one takes at a set price. Finuprav recommended the parties to reduce the price and finally sell the goods. This amount is enough to pay all debts. Accounting paper with calculations is demonstrated. Everyone agrees, sign an agreement and part with the world. Three months later, the debtor closed all its obligations. The court was informed of this and the bankruptcy case was dismissed.

These are the features of the Federal Law on bankruptcy (ruin) of legal entities.

How to become bankrupt for an individual: step by step instructions

Bankruptcy is not always an end in itself. Sometimes the debtor goes through this procedure only to gain time, find money and pay off.

Step one. Assessing the probability of bankruptcy

Another thing is whether the arbitration will accept the application if there are no grounds for bankruptcy? Therefore, you must first evaluate your financial opportunities. Are there signs of bankruptcy? We collect documents and write an application.

Step two: preparing documents for bankruptcy

When filing for bankruptcy, the debtor will need:

certificates from creditors on the presence of debts;
a notarized inventory of personal property;
certificate in the form 2-NDFL;
bank statements on existing accounts, deposits;
personal documents (civil passport, marriage or divorce certificate, metrics for children, etc.).

Step Three: Waiting for the Court to Consider the Bankruptcy Claim

It may take up to two months for the claim to be considered in court. The fact is that the judge needs to make sure that the applicant is in a difficult financial situation, to conduct appropriate checks.

Step four: agree on a restructuring schedule

After making a positive decision on the bankruptcy application, the court will appoint a financial manager. It is he who must develop and present at the meeting of creditors a debt restructuring plan. Restructuring will be possible only if the debtor has income and property. No, or not enough to close the debts in the future? They will immediately appoint an auction, why waste the debtor's time and money on the services of the financial administration.

Step Five: Declaring Bankruptcy and Selling Under the Hammer

The Bankruptcy Law of 2019, the current version of which allows the sale of the debtor's property, is fair. This will allow you to repay debts, because creditors may also have financial problems at the moment. On the other hand, declaring an ordinary person bankrupt will ease the obligations of the defaulter. They will sell everything except the only apartment, house, land under it, tools for work, etc. They will also sell the debtor's share in the jointly acquired by the spouses. All money will be withdrawn, except for the minimum wage for each dependent of the bankrupt. The court often satisfies the petition of a bankrupt to exclude from the bankruptcy estate inexpensive, up to 10,000 rubles things.

What can't be sold under the hammer?

Has the person been declared bankrupt? Under no circumstances can it be taken from him and sold:

single dwelling;
pieces of furniture, dishes, personal items (except for diamonds and other jewelry);
clothing and footwear;
household appliances valued at less than one hundred thousand rubles;
domestic animals, yard buildings for keeping them, feed, sowing seeds (if they are not used for business);
food and drinks;
fuel for the winter season (wood, coal, etc.);
a car for a disabled person;
orders, medals, badges of honour.

Appeal against contracts concluded by the debtor

The debtor's transactions concluded three years before bankruptcy will be challenged (Article 61.1 of the Civil Code of the Russian Federation). Moreover, they can challenge, for example, an order to increase wages, bonus payments and other motivating payments. The fact of disputing the debtor's contracts must be recorded in the register no later than three days from the date of the relevant decision by the judge.

Activities of arbitration managers

If earlier the debtor himself had the right to indicate a specific arbitration manager, today he is nominated by the bankruptcy creditor. This, according to legislators, will prevent the debtor from promoting his person in the bankruptcy case, insure against possible abuse. Creditors, just as they nominated the manager, can also push him back if he does not justify the hopes placed on him. You just need to write a reasoned petition to the court for a replacement.

Bankruptcy law: what to expect in 2019?

It is known that the deputies are going to complete the law 127 FZ on insolvency (bankruptcy) in the very near future. What changes await us?

Bankruptcy under the simplified scheme:
- only debts up to seven hundred thousand rubles will be considered;
- fast speed of bankruptcy - in four months;
- there will be no manager
- only the debtor himself can file for bankruptcy;
- You can only file for bankruptcy if you have up to ten creditors.
The obligation to help citizens in preparing documents for bankruptcy is proposed to be assigned to the MFC.
It will be allowed to sell the only housing if the footage for each family member exceeds established norms. Let's say the debtor's only home is a modest three-story mansion of 2,000 square meters. And three people live there: the debtor, his wife and child. It is clear that by forcing such a debtor to sell the mansion and move to more modest housing, the law will benefit many creditors.

Pitfalls of 127 Federal Law on insolvency (bankruptcy) of individuals

The first iceberg is the exorbitant cost of bankruptcy for the vast majority of Russian debtors.

Second, it turned out that the Russians do not want to go and apply for bankruptcy. The reasons, according to experts, are distrust of the authorities. For more than twenty years of law-making “miracles”, many do not believe in the power of law in our country.

Third: low awareness of bankruptcy. Many consider the procedure too complicated and incomprehensible, with unpredictable results.

Fourth underwater rock- low payment to financial authorities in case of bankruptcy of an individual. 25,000 rubles for several months of hard work do not motivate managers to deal with ordinary citizens. They simply refuse citizens if they cannot interest them financially.

The fifth problem, which will resolve itself over time, is that the practice of bankruptcy developed by the courts is still too small. Each bankruptcy decision is individual, and therefore unpredictable. It scares the citizens.

Pros and cons of bankruptcy for individuals

The main disadvantage is the prohibitively high cost of bankruptcy for an impoverished citizen.
Second: temporary deprivation of the right to carry out transactions with one's property during the procedure and complete deprivation of property after bankruptcy is declared.
Third: restriction on free movement (ban on leaving the hillock).
Fourth: like property, you can not dispose of accounts. All bank plastic will have to be handed over to the financial authority.
Fifth - loss of rights, to put it simply - "the stigma of bankruptcy." You cannot be the head of a legal entity for three years, and you cannot report your bankruptcy to any counterparty for five years.
Sixth - a stain on credit history. Few agree to lend to a bankrupt.

But many of these disadvantages do not bother. They, on the contrary, seek to go bankrupt and write off accumulated debts. It is clear that bankruptcy will not write off obligatory debts, but they are usually negligible compared to the written-off volume of loans that strangled the borrower.

What bankruptcy is fraught with for legal entities

After the bankruptcy of the enterprise negative consequences enough for everyone: for managers, and for creditors, and for ordinary hard workers.

Every business goes bankrupt. Everything is going in strict accordance with 127 Federal Law on complete bankruptcy with latest changes.

Has the court declared the legal entity bankrupt? From that moment on, the management is removed from business, their place is taken by the bankruptcy trustee. He will sell everything he can and cover at least part of the firm's debts. Writs of execution in relation to bankruptcy are closed. Debts, for which there was not enough money from the property sold at the auction, are written off in full. Without the right to present something on them in the future.

Debts on alimony, salaries, benefits, harm to moral and health are not written off. Managers will repay them from any profits received in their accounts.

Information about the bankruptcy of a legal entity becomes the public domain. After such fame, hardly anyone wants to deal with the managers of a bankrupt company. It will be difficult for them to find work. Although bankrupts are not prohibited from establishing a new legal entity. You can start a new business with no hesitation.

But this is if the bankruptcy was due to circumstances, and not to poor management of top managers. In the second case, they will have to answer for fictitious or deliberate bankruptcy. Especially when:

creditors suffered damage in excess of 1.5 million rubles;
recorded violations of financial reporting;
despite the presence of all signs of bankruptcy, the management, which is obliged by law to do so, did not seek to file an application with the court.

Such an unfortunate leader can answer under administrative and criminal articles. The court has the right to require him to implement subsidiary liability: to pay off debts from his personal property or savings.

The ex-leader can be punished only in court. And there are usually a lot of hunters to file an application and provide evidence.

Consequences of bankruptcy for employees

The bankrupt enterprise is liquidated, all employees are fired, including management. The dismissal takes place in accordance with the Labor Code of the Russian Federation, the bankruptcy trustee is responsible for this. Art. 129 of the Federal Law on insolvency (bankruptcy), the current version says that dismissed workers are notified of their dismissal one month from the start of the stage of bankruptcy proceedings. However, Article 180 of the TCRF requires in such cases to notify two months before the reduction. Bankruptcy and liquidation is notified Labour Inspectorate because there will be a large number of people on the street at once. Those dismissed upon liquidation are entitled to a full payment:

all accrued salary;
compensation for unscheduled vacation;
two average monthly salaries as severance pay.

Bankruptcy Fraud Liability

Legal regulation of insolvency (bankruptcy) in our country involves administrative and criminal liability for the intentional fictitious bankruptcy(parts 1-2 of article 14.12 of the Code of Administrative Offenses of the Russian Federation). Without established material harm to creditors, the fine is meager - 1-3 thousand rubles. But the severity of the punishment also depends on the amount of harm caused.

Did the debtor hide the property from the financial administration and the court, tried to sell it to nominees in order to avoid being sold at auction, and as a result, the creditors suffered losses of more than one and a half million rubles? This is already the competence of criminal law. According to Art. 195 of the Criminal Code of the Russian Federation, the perpetrator can be fined from 100,000 to 500,000 rubles, restrict freedom for two years, send them forcibly to work, and even imprison them for up to three years.

Art. 196 of the Criminal Code of the Russian Federation (for deliberate bankruptcy), in especially severe cases, it allows isolating a convicted person from society for six years. In Art. 197 of the Criminal Code of the Russian Federation (for fictitious bankruptcy), the maximum punishment is similar.

The cost of bankruptcy of individuals

It is paradoxical, but according to our laws, seven skins will be torn off from a ruined person, without a penny for his soul, before his bankruptcy is officially recognized.
The state duty for the fact of filing an application for bankruptcy is three hundred rubles (until October 2017 it was generally 6000 rubles!).

The “salary” of the financial administration is 25,000 rubles for each stage of bankruptcy (if there is a restructuring first, then an auction, you will have to give him 50,000). In addition, he is entitled to seven percent of the proceeds from the auction amount. Let's say that property worth 2 million is sold. Finuprav will take 140,000 rubles from this amount.

For mandatory publications on the course of bankruptcy in the EFRSB, the debtor will be charged about 3000 rubles (402 rubles for one publication, and there will be up to 7 of them).
If you turn to lawyers for help, you will have to throw in a few tens of thousands more.

There are eighty-one arbitration courts in Russia, and eighty-five regions, they are located in large settlements. For travel to the court and back, often by taxi, you also have to pay. In total, with the most economical approach - about fifty thousand rubles, and if you order turnkey bankruptcy from lawyers - in the region of two hundred thousand, or even more.

But behind these costs, one somehow forgets about what creditors can take from a bankrupt when an individual goes bankrupt. And this is practically all that is behind the soul of the debtor.

How to check for bankruptcy?

It is necessary to check for bankruptcy of your potential counterparties before each upcoming transaction. It does not matter who it is: an organization, an individual entrepreneur or an ordinary citizen. For example, if you buy an apartment, a car from a bankrupt, then this purchase can easily be canceled by the court. The acquisition will be confiscated, and the unfortunate buyer will be left without money and without property.

Moreover, the buyer will be pulled with subpoenas to the police and the court, as they will automatically be suspected of colluding with the bankrupt.

There is no complete protection against such surprises, because the court can seize any transaction of the debtor, concluded within three years before bankruptcy. But if the seller is already in bankruptcy and is going to solve some of his problems at the expense of naive buyers, this can be easily checked.

Checking sellers

On the FSS website (http://fssprus.ru/) the service “Learn about your debts” is available. The name of the counterparty is entered in the search line and the system displays all enforcement proceedings open to the seller. If they are not, then everything is fine. Are there large sums? Break up with this seller.
The Unified Federal Register of Bankruptcy Information (bankrot.fedresurs.ru) has a similar search service for full name, TIN and other data.
In the file of arbitration cases (http://kad.arbitr.ru/).

We check for bankruptcy of the developer

Similarly, you can get into big financial trouble if you contact a developer that is in bankruptcy. Similarly, sellers are looking for information about the developer before they invested in shared construction. In addition to the above sources, information is available:

On the website of the Unified Register of Developers. The developers included here have a professional rating. If it is below half a point, then the developer is unclean.
The website of the Federal Tax Service allows you to receive an electronic extract from the Unified State Register of Legal Entities. If the developer goes bankrupt, information about this will definitely be on this statement.
Sites and data aggregators about individual entrepreneurs and legal entities. The search mechanics are the same. The data is synchronized with the servers of government departments and is updated instantly.

Subscribe to latest news

In December last year, the Federal Law “On Insolvency (Bankruptcy)”, the current version of which entered into force in 2019, was amended. Many of them will be of interest not only to creditors, but also to debtors, because it is becoming increasingly difficult for them to defend their rights due to innovations. We will consider the key amendments and their significance in the context of practical application.

General provisions

The first version of the Federal Law "On Bankruptcy" was adopted in October 2002 and is still in force today with a significant number of changes in many articles. To implement the project and create new effective legal norms, separate provisions from other branches of the legislative framework.

The main goal of Federal Law No. 127 is to regulate the processes of bankruptcy proceedings for legal entities and individuals in order to repay debt obligations to creditors, authorized state bodies and other representatives of the affected party.

In particular, the law provides for the procedure for the sale of the debtor's property on electronic auctions, the order of distribution of funds received between creditors who have received losses as a result of interaction with the borrower, and the very procedure for declaring the insolvency of a legal entity.

Federal Law No. 127 "On Bankruptcy" — a structurally complex document that delimits the rights and obligations of all participants in relations in this area. Depending on the circumstances of the case, there may be several of them:

Debtor - a legal or natural person who has violated the terms of debt obligations (3 months from the date of non-payment) as a result of insolvency.
Creditors are persons participating in the process as an injured party and making property claims against the debtor.
Bankruptcy creditors are persons entered in the register by self-regulatory bodies of arbitration managers, participating in the case and having the opportunity to influence the course of the proceedings.
An insolvency practitioner is a person who assumes obligations to manage the debtor's assets at the time of the proceedings and during bankruptcy proceedings.
Authorized government bodies in the form of the Federal Tax Service, pension fund and other organizations interacting with the debtor at the time of his professional activity.
Representatives from the working committee of the affected party, relevant organizations and other observers of the process.

Activities of arbitration managers in accordance with Federal Law No. 127

Many changes in the latest version of the law have affected the key persons who take responsibility for managing the debtor's assets in the course of the proceedings - arbitration managers. They previously had a lot of powers and were responsible for almost all procedures during the proceedings.

And with the latest changes, an additional range of duties has appeared, related, in particular, to timely notification to the relevant Internet resources of declaring bankruptcy, sending notifications to debtors about the balance of property after paying off debts due to the sale of assets at an auction, etc.

In addition, the appointment of managers is now beyond the control of debtors, which introduces significant adjustments to the asset management process itself. If earlier the enterprise, or rather, its management, could influence the course of events and turn the bankruptcy of the organization in their favor, having received benefits from this, today such actions are impossible.

Conversely, the privilege of appointing insolvency practitioners, as well as a self-regulating body of insolvency practitioners, is now in the hands of bankruptcy creditors. At the first meeting, they can appoint an executor of their choice.

Moreover, during the proceedings, they can also apply for a change of the arbitration manager if his actions raise doubts about bias or the level of competence does not meet the requirements of the injured party. Thus, the Federal Law “On Bankruptcy of Legal Entities” was “redesigned” in 2019 and now operates in the interests of creditors.

About the injured party

A number of changes have affected the creditors themselves. In the provisions of the law, a distinction appeared between the participants:

Lenders.
Competitive creditors.

For inexperienced people, the difference between these concepts is not clear. Federal Law "On Bankruptcy" No. 127 provides for the delimitation of rights and obligations between these two groups of participants. Creditors - persons participating in the process, but not included in single register administered by the arbitration manager.

In other words, such creditors are only observers and at the end of the proceedings and the repayment of debts at the expense of sold property the defendant's obligations to them are automatically annulled.

Bankruptcy creditors are full-fledged defendants in the case and can not only claim material compensation, but also choose bankruptcy procedures, an arbitration manager and make changes during the course of the process. The injured person with the greatest losses has the most significant weight at the meetings of creditors.

The adoption of the bankruptcy law was caused by the need to regulate the procedure for declaring a legal entity bankrupt. The content of the law includes the procedure for applying to the court. Let's take a closer look at the provisions of this NLA.

Basic provisions and concepts of Federal Law 127

The federal law on insolvency (bankruptcy) came into force on Russian Federation in October 2002. It consists of a preamble, chapters and articles. It regulates legal relations on the recognition of insolvent legal entities. Speaking in an accessible language, certain aspects of the implementation of cash settlements, measures to prevent bankruptcy, etc. are established here.

Separate chapters in the law regulate the procedure for declaring a person bankrupt, the consequences of this, the procedure and order of repayment of debt obligations, etc.

On the insolvency bankruptcy of individuals

The legislation establishes separate provisions regarding the bankruptcy of an individual. Chapter 10 is devoted to this in federal law 127. It also outlines the procedure for declaring insolvent an individual entrepreneur and a peasant farm.

In more detail this question enshrined in the civil code of the Russian Federation. It is there that the basic principles are established, according to which bankruptcy proceedings can be initiated against a citizen, how it is carried out, etc.

On insolvency (bankruptcy) of legal entities

Bankruptcy of legal persons dedicated as provisions civil law, and directly regulatory legal act number 127. In order to recognize a legal entity as a debtor, it is necessary to issue a special act.

It is worth noting that the initiator of this process can be both CEO firms or ruling council and any other interested person. For example, it may be an employee who has not been paid his wages for more than three months.

Cases of this kind can be considered exclusively by the arbitration court. Consideration of cases in courts general jurisdiction not permitted by law.

EFRSB declaration of insolvency

EFRSB is a single federal register bankruptcy information. It is there that you can find out which legal entity is in this procedure, at what stage the bankruptcy process is, who is the bankruptcy trustee, etc.

This web resource is very helpful. First of all, you can use it to check your counterparty. This is necessary in order to avoid future violations in the performance of obligations arising from contracts.

The site is also useful for creditors who have certain claims against a legal entity that is in bankruptcy proceedings.

Federal Law on Bankruptcy organization of tenders

Article 139 of the Federal Law 127 is devoted to this issue.

It states that after the information about the organization has been entered into the relevant register, a complete and comprehensive assessment all property of the legal entity.

After that, auctions are organized. Information about their holding should be placed in such a way that anyone can get acquainted with it. This can happen through the media, through the Internet, etc.

Submit and submit Required documents the buyer must within the period specified in the bidding notice. In this situation, bidding is carried out in the form of an auction. This means that the choice will fall on the buyer who offers the highest price.

Any of the participants has the right to demand that the auction be declared invalid.

This may happen for the following reasons:

only one person participated;
unreasonable choice of the buyer;
bidding ahead of schedule, etc.

Based on the auction, a contract of sale is concluded.

Recent changes in federal law 127

Previously, when selling property by a legal entity, especially if it is residential premises, the legislation on shared construction was fully applied. Now, in accordance with the latest changes, these rules do not apply. Used only housing and civil Code, as well as FZ 127.

Innovations also touched upon the procedure for monitoring the restoration of solvency. Now all the main powers, including the development of plans and requirements, have been transferred to the competence of the control bodies.

Bankruptcy law and mortgages for legal entities

A mortgage is a loan to purchase a home. Mortgage can be used by both individuals and legal entities.

If an individual who purchased an apartment on a mortgage has it as the only housing, it will not be taken away during the bankruptcy procedure. Other provisions are established for legal entities. In order to satisfy the requirements of the creditor, such a dwelling may be withdrawn and thereby the mortgage debt will be repaid.

Key Articles in Brief

⇒ You can download the law in full with all parts at the bottom of the page.

Article 3 of Federal Law 127

This article establishes the signs of bankruptcy.

A legal entity may file a bankruptcy case in the following situations:

When there is a wage arrears.
When there is a certain amount of debt obligations.

In relation to certain categories of organizations, for example, LLC, JSC, etc., other grounds may also be established.

Article 5 current payments bankruptcy law

It is said here that current payments are understood as any monetary obligations aimed at wages, rent, gas, electricity, communal payments and etc.

Current payments can also be those that are made by a legal entity on a stable and monthly basis.

Article 6 of Federal Law 127

This is the procedure for dealing with bankruptcy cases. It is indicated that this is within the competence of the arbitration court. It is he who has the right to initiate bankruptcy proceedings.

Art. 8 FZ 127

Here it is indicated how a person has the opportunity to exercise his right and submit to the court in accordance with the law the requirements for declaring the debtor bankrupt.
This can occur in situations where there is at least one of the above signs of bankruptcy.

Art. 9

It states that the debtor himself is obliged to apply to the arbitration court with a statement in situations where there are clearly signs of insolvency.

Proceedings on the financial insolvency of enterprises, banks, etc. may also be initiated by force.

Hundred. 10 bankruptcy law

To date, this legal norm has lost its force. Previously, it fixed the liability of the debtor.

Article 11 of Federal Law 127

Here are the rights of creditors. They include: the right to file an application, the right to satisfy claims, etc. (this also applies to bankruptcy trustees).

Art. 13 FZ 127

Here is the procedure for holding a meeting of creditors.

A notice must be sent prior to holding such a meeting. If the notification was not received by one of the creditors, the meeting may be declared invalid.

Art. 31 FZ 127

This is where the concept of sanitation comes into play.

It refers to the provision of special financial assistance to restore solvency and prevent further bankruptcy proceedings.

Art. 39 FZ 127

This article establishes exactly how an application is submitted to the arbitration court. It must be made in writing and contain information about the organization, the reasons for declaring it bankrupt and other information prescribed in the arbitration procedural code.

Article 63 Federal Law 127

Such a bankruptcy procedure as observation is described. All financial flows of legal entities are tracked here. persons, all debt obligations. No other steps in this procedure apply.

Article 71 of the Federal Law 127

Here we are talking about establishing the amount of creditors' claims. Any claims may be submitted within a period not exceeding one month. If such a period is missed, it can be restored only in court.

Section 100 Bankruptcy Law

Here we are talking about the procedure of external control. One of its significant features is that creditor claims can be filed at any time.

Article 126 Federal Law 127

This article regulates the procedure for bankruptcy proceedings. Here, the management bodies of the legal entity relinquish all their powers. Only a bankruptcy trustee can manage a legal entity.

Article 129 of the Federal Law 127

It reveals the powers of the bankruptcy trustee, including the repayment of debts, the satisfaction of claims, the distribution of financial flows.

Article 134 of the Federal Law on Bankruptcy

The order of satisfaction of requirements is established:

In relation to persons who have suffered harm to their life and health.
Wage.
Other requirements.

Download the text of Federal Law 127 in the latest edition, with comments

You can download the Federal Law in the current new edition with the latest changes. ⇐