Lawyer Pavel PetrovLawyer Pavel Petrov

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Accounts Receivable in Russian Personal Bankruptcy

In briefIf a third party owes money to the individual, that claim is an asset rather than an offsetting liability. During asset realization it normally enters the bankruptcy estate. The financial manager may collect it, litigate it or sell the claim. It must be disclosed even where the counterparty disputes the amount or appears insolvent.

It is property

A right to receive money has value and must be disclosed with other assets.

The manager controls it

During realization the manager conducts property litigation and receives payment.

Nominal value differs

Evidence, limitation and counterparty solvency affect valuation.

Common receivables

BasisEvidencePossible action
Loan to another personAgreement, receipt, transfers and messagesCollection or sale
Unpaid work or servicesContract, acceptance acts, invoices and demandsReview of performance and defences
Judgment debtJudgment, writ and bailiff recordsContinued collection by the manager
Refund, advance or unjust enrichmentPayments, termination, demand and judgmentLitigation or assignment
Corporate paymentCompany resolutions, participant register and accountsSeparate basis and timing review

Why the claim enters the estate

Article 213.25(1) of Federal Law No. 127-FZ includes property owned at the bankruptcy decision and property identified or acquired later, subject to statutory exclusions. Article 213.25(6) authorizes the financial manager to conduct litigation concerning the individual’s property rights, including debts owed by third parties.

After asset realization begins, the counterparty must perform to the financial manager rather than to the individual personally. Personal receipt and spending may be challenged and may affect the good-faith assessment.

Disclose disputed claims too. Absence of a judgment does not erase the asset. State the basis, amount, due date and counterparty’s objections.

Collection or sale

The manager reviews evidence, limitation, litigation cost and collectability. The manager may sue, continue pending litigation or sell the claim under the approved procedure. Nominal debt does not guarantee the sale price.

If the right cannot be sold and creditors refuse to accept it in satisfaction, Article 213.26 provides for restoration of the individual’s right to dispose of it after completion, subject to the actual procedure and court orders.

Practical checklist

  1. List every person or business that owes you money or property.
  2. Collect contracts, receipts, transfers, acts, messages, demands and court papers.
  3. Check performance dates and potential limitation without relying on a simple calendar assumption.
  4. Disclose the claim and give originals to the financial manager.
  5. Do not receive performance personally after realization begins without coordination.
  6. Check that the claim appears in the inventory and manager’s report.

Related guides: assets in personal bankruptcy, bailiff enforcement and bankruptcy practice.

Frequently asked questions

Must a promissory-note debt be listed?

Yes. It evidences a potential property right for the manager to evaluate.

What if the counterparty denies the debt?

The dispute does not remove the disclosure duty. The manager assesses prospects and cost.

Can the claim be forgiven before bankruptcy?

Forgiveness may reduce the estate and be challenged. Obtain legal analysis first.

Who receives payment?

After realization begins, payment is made to the financial manager under the statutory procedure.

Does an unsold claim return?

Article 213.26 allows this where sale failed and creditors refused the asset, subject to the case record.

Official sources

Someone owes you money?

We can review evidence, claim value and handover to the manager before filing.

Initial consultation