A corporate debtor’s assets remaining after creditor distributions do not pass automatically and do not become ownerless merely because distributions ended. Article 148 sets a sequence: entitlement of the unitary-enterprise owner or debtor members, notice or Federal Register publication, application, status verification and transfer.
Remaining is not unsold
A post-distribution remainder and an asset that failed to sell arise on different facts.
An application is needed
An eligible member must respond to notice or the Federal Register publication.
Co-ownership is possible
Several eligible applicants may receive the asset in shared ownership.
Quick self-check
- Classify the asset as unsold or post-distribution remainder.
- Verify auctions, distributions and creditor treatment.
- Locate notice or the Federal Register entry.
- Confirm membership status when the application is reviewed.
- Document transfer, title registration and custody costs.
Two Article 148 Grounds
A founder or member may receive property after creditors refuse an unsold asset offered for claim satisfaction or where property remains after creditor distributions. The two grounds require different preceding records and should not be conflated.
Notice and Application
The insolvency administrator sends notice to entitled persons or publishes a Federal Register announcement identifying the asset and the right to receive it. Transfer requires an application and proof of current status.
Several Members
If several eligible persons apply, the asset may pass into shared ownership. The deed should identify the asset, shares, condition, records and the point at which custody costs move.
If Nobody Takes It
Without an application, or where transfer to members is impossible, the asset goes to the local authority at its location. Property that legally cannot belong to creditors or local authorities goes into federal ownership. The competent public body assumes custody under the statutory process.
Practical File
- inventory and title records;
- auction or distribution results;
- notice or Federal Register publication;
- applications and current membership proof;
- share allocation for multiple applicants;
- transfer deed and registration records;
- cost and encumbrance information.
Where the remaining value reaches the statutory minimum capital for the relevant entity form, Article 148 separately permits an authorised corporate body to seek termination of the bankruptcy case.
| Situation | First recipient | Next step |
|---|---|---|
| Creditors refuse an unsold asset | Unitary-enterprise owner or debtor members | Notice, application and transfer |
| Asset remains after distributions | Owner or members | Status verification and title formalities |
| Several applicants | All eligible applicants | Shared ownership |
| No application | Local authority | Transfer deed and acceptance |
| Asset cannot belong to local authority | Russian Federation | Transfer to federal authority |
Frequently Asked Questions
Does a founder receive property automatically?
No. A statutory ground, notice or publication, application and status proof are required.
Which membership date matters?
Article 148 requires eligibility to be checked when the application is considered.
May one asset go to several members?
Yes. The statute permits shared ownership.
What if nobody applies?
The asset passes to the local authority or, in special cases, the federal authority.
Is this post-dissolution asset distribution?
No. Article 148 operates within liquidation proceedings; post-register-deletion distribution follows a different legal route.
Legal Sources
Related guides: unsold property, property offered to a creditor and completion of liquidation proceedings.
Property Remains After Distributions?
We can review the ground, disclosures, applicant status and transfer file.
BOOK AN INITIAL CONSULTATIONGeneral information as at 28 August 2026. Rights depend on asset type, applicant status and the particular proceeding.