Sale of property of debtors. Procedure for the sale of the debtor's property

If a citizen is declared bankrupt by the decision of the Arbitration Court, all of his property is subject to sale. The sale of debtor's property is an obligatory procedure, the purpose of which is to adequately satisfy creditors' claims. What are its features and implementation procedure?

Grounds for the sale of property

According to the law on bankruptcy, the sale of property of debtors is possible only after restructuring the debt. When restructuring, a plan for its repayment is developed and approved. The debtor at this stage may be limited in his actions, and his property is not yet under arrest. If restructuring did not help pay off all obligations to creditors, the sale of property of debtors begins.

Sale of property is initiated only in court in two cases:

1. At the initiative of debtors (the decision is approved after the declaration of bankruptcy is fully justified).
2. On the initiative of the financial manager (if within a set period there were not any proposals on the plan of repayment of obligations to creditors).

Judicial decision-making procedure

Recognition of an individual as a bankrupt and further procedure for the sale of his property in court are possible if:

• Bankruptcy administrators, debtor or authorized organizations were unable to develop and approve a restructuring plan;
• The restructuring plan is not recognized by the creditors' meeting;
• The court unilaterally annulled the implementation of the restructuring plan;
• Points of amicable settlement;
• After the end of the debt restructuring procedure, the bankruptcy case was resumed.

The sale of the property of debtors after they receive the status of bankrupt is carried out under the guidance of the financial manager. Arrest of property is not superimposed. However, the citizen is limited in the right to dispose of the property. All operations can be carried out only under the supervision of the financial manager.

What is to be implemented

Since the recognition of an individual as a bankrupt all his property is subject to sale to pay off the debt. The list of property items that can not be realized is defined in Article 446 of the Civil Code. It includes:

• Housing of the debtor, if it is the only suitable for his residence;
• The land is the only suitable place for living;
• Objects of individual use except for jewelry and luxury;
• Equipment or tools necessary for the performance of work;
• Cattle, feed, pavilions for animals, if they are in personal use;
• Products;
• fuel;
• Awards and prizes.

Sale of property of debtors is impossible at a cost of less than 10 thousand rubles. All that is more expensive, is put up for auction.

Powers of the financial manager

The financial manager completely disposes of the property of the bankrupt. Under his leadership are all operations, including the sale of property of debtors at auction. Transactions that are conducted bankrupt personally, are considered void.

The manager can:

• To dispose of the money of the defaulter in his bank accounts;
• Carry out transactions on these accounts;
• Fulfill the legal rights of the defaulter;
• Attend and accompany litigation (this includes also the seizure and sale of the debtor's property).

The order of sale of the debtor's property

The process of selling the property of a bankrupt includes four stages.

1. Inventory and appraisal of property is carried out. All that is subject to arrest and sale at auction, is withdrawn. Items that can not be realized are identified.
2. Under the guidance of the financial manager, a provision is submitted to the court on the sale of property items with the approved terms of sale and value.
3. Sale of property items at auction. As a rule, the process lasts 6 months, but this period can be increased by court decision. The property that is transferred to creditors in repayment of debts must also be sold during this period. Items of property that cost more than 100 thousand rubles are sold at public auction. If the financial manager fails to sell the property, they are returned to the debtor with the drawing up of the transfer certificate.
4. The funds received from the sale of property are transferred to the creditors. If they are not enough to fully pay off the debt, the defaulter is no longer obliged to pay them, since he is declared bankrupt.

Evaluation works

The valuation of the debtor's property is the most important stage in the enforcement proceedings. Its effectiveness depends on its outcome. The bankrupt is interested in high valuations of property, and creditors - in real.

The assessment of the property of the defaulter in accordance with Article 85 of the Law "On Enforcement Proceedings" is carried out by bailiffs in accordance with current market prices. Court bailiffs, as a rule, attract appraisers to this, because often debtors and claimants disagree with the results of the procedure. The party that disputes the results of works pays the full cost of the services of the appraiser.

Valuation of securities is made by request of bailiffs to the organizers of trading in the relevant market. The price of units in investment funds is determined by asking the cost to the management organization.

Trades on sale of property of debtors and the order of their carrying out

After carrying out the valuation works, the sale of the debtor's property items at open tenders, which are conducted in the format of auctions, begins.

With each "step" of the auction, the value of the lot increases. The size of "steps" is set by the organizers of the auction, as a rule, it is no more than 10% of the original value of the item. Every citizen of Russia can take part in the bidding. The one who offers the big sum wins.

Responsible for the bidding are appointed financial managers, or third-party enterprises. Organizational work for the auction is paid from the non-payer.

Bidding of property of debtors is recognized as failed if no potential buyer has applied for participation. If the application was submitted by one buyer and the price of the lot was higher than the original value, the financial manager sells the property of the bankrupt.

If the public auction is not held, they are held again. At the same time, the price of lots will be lower by approximately 10% of the original cost. If the second attempt fails, the tender mass is sold at the expense of the public offer. The cost and terms of implementation in the public offer are reduced in proportion to the time of sale of the property.

Trading platforms

On electronic trading platforms there is a realization of property of debtors. "Sberbank AST" is the most popular among them. There are also other online sites:

• "Fabrikant" (the site guarantees transparency of transactions, offers more than 30 types of purchase and sale procedures).
• "Realization Center" (organizes tenders for raising or lowering).
• "Lot-Online" (universal platform, through which items, goods and services are sold).
• "UTTender" (fully automated platform, which stores data on trades for 10 years).

"Sberbank AST": features

As already mentioned, one of the largest electronic trading platforms in Russia, where the property of debtors is sold, is Sberbank AST. The abbreviation ACT stands for "automated trading system".

It appeared in June 2009 on the orders of the Russian government as an operator for electronic trading, whose scope of activity includes concluding state contracts for the supply of goods and services for the needs of the country.

The rules of its work are fully defined in Federal Law No. 94.

On the order of the Ministry of Economic Development in 2009, "Sberbank AST" was chosen as the winner by the results of the competition among electronic platforms. In the same year, the organization received state accreditation for a five-year period.

"Sberbank AST" is engaged in electronic trading at the request of various commercial enterprises and provides sites for large corporate clients. Also here, purchases are made for the needs of the Sberbank of Russia itself.

What types of debt can not be canceled

Although the sale of property is an effective method of satisfying the claims of creditors, bankruptcy can not nullify certain types of debt:

• alimony;
• Payments to creditors for compensation of material and moral damage, including in connection with causing harm to life and health;
• Liabilities for remuneration of labor;
• Liabilities for severance pay;
• Subsidiary responsibility ;
• Reimbursement of bankrupt losses to a legal entity whose former participant he was;
• Compensation for property damage;
• Indebtedness for the consequences of void transactions.

The sale of bankruptcy property is a multi-stage process, requiring the involvement of a number of specialized organizations. It is recognized completed only after the transfer of funds to creditors. But this scheme in real life is far from ideal. In judicial practice, additional measures are often applied for the speedy sale of bankruptcy property, including the involvement of qualified lawyers to monitor the progress of the entire process.