Purpose
Assess assets, expenses, solvency and the prospect of restoring operations.
Evidence
Verifiable records and trends, not merely the debtor’s unsupported statements.
Outcome
Practitioner conclusions for the court and creditors, open to documented challenge.
Why the analysis is required
Article 70 of Federal Law No. 127-FZ links the analysis to two central questions: whether the debtor has enough property to cover bankruptcy expenses, including practitioner remuneration, and whether solvency can be restored. During supervision, the interim manager also uses it to explain which subsequent procedure is appropriate.
It differs from an audit or ordinary business valuation. It does not unconditionally certify financial statements, value every asset or replace judicial examination of a disputed transaction.
Records examined
| Group | Examples | Review |
|---|---|---|
| Financial statements | Balance sheet, income statement and tax returns | Trends in assets, liabilities, revenue and losses |
| Property | Inventory, registers and security records | Existence, liquidity, encumbrances and sale prospects |
| Liabilities | Contracts, claims register and judgments | Amount, maturity, priority and security |
| Cash flows | Bank statements, cash records and receivables | Actual receipts, expenses and collectability |
| Operations | Contracts, staff, licences and production data | Ability to continue and break even |
Main ratios
Government Resolution No. 367 provides solvency, financial-stability and business-activity indicators, including absolute and current liquidity, asset coverage, autonomy, profitability and turnover ratios.
The trend, reason for a change and comparability of the source data matter as much as the final figure. A formal set of ratios without an asset, market, liability and break-even review does not explain the debtor’s actual condition.
Assets and liabilities
Asset review covers ownership, condition, restrictions, liquidity and expected sale costs. Receivables are tested against maturity, supporting records, disputes and the counterparty’s ability to pay. Liabilities are reconciled with accounts, creditor applications and the claims register.
Transactions and changes in the asset structure require separate review. Possible avoidance of a debtor transaction is a distinct legal question.
Who performs it and when
The interim manager has the express duty during supervision. In an individual bankruptcy, Article 213.9 also requires the financial manager to analyse the individual’s financial condition. Scope and depth depend on the debtor, procedure and available evidence.
The result is provided to case participants and informs the next step. For a company it is connected with supervision, rehabilitation, external administration or liquidation proceedings. Data and expert costs are assessed under the rules on corporate bankruptcy expenses.
Quality checklist
- Confirm the period and source-record list.
- Identify missing or conflicting data.
- Recalculate key indicators.
- Compare recorded assets with registers and inventory.
- Test receivable collectability.
- Examine the reasons for deterioration.
- Connect conclusions to the recommended procedure.
- Submit documented objections where necessary.
Questions
Is the analysis an audit?
No. An audit addresses financial-statement assurance; the practitioner analysis serves statutory bankruptcy purposes.
Do weak ratios prove deliberate bankruptcy?
No. Causes, transactions, controlling-person conduct and statutory indicators require separate evidence.
Can participants dispute the analysis?
They may submit calculations, records and objections. The court assesses the evidence as a whole.
Is an individual debtor analysed?
Yes. Article 213.9 includes financial-condition analysis among the financial manager’s duties.
Official sources
- Article 70 of Federal Law No. 127-FZ;
- Government Resolution No. 367;
- Federal Law No. 127-FZ, current edition.
Need to review the analysis?
We can compare the practitioner’s conclusions with the records, calculations and statutory purpose without promising a predetermined outcome.
Initial consultation