Moratorium interest cannot be excluded from Russian subsidiary liability solely because it is not included in the creditors’ register. But the legal possibility of recovery does not replace a calculation: the liability ground, principal base, period, rate and unpaid balance must be established.
This guide is for a creditor and respondent disputing the amount of liability for inability to satisfy creditors in full under Article 61.11. Accrual within the bankruptcy procedure is a separate question, explained in the general moratorium interest guide.
⚖ Legal basis
Examine inclusion rather than relying solely on the absence of a separate register entry.
▦ Calculation
Separate principal, earlier sanctions and special interest by period.
✓ Outstanding balance
Account for actual payments and prevent duplicate recovery of the same sum.
The Supreme Court: absence from the register does not release the controller
In ruling No. 302-ЭС24-490(2,3) dated 4 August 2025 in case No. А74-5486/2020, the Supreme Court examined a refusal to include moratorium interest in an Article 61.11 award against a controlling person. The Court treated the interest as compensation for creditor losses and found no basis for limiting liability to principal and earlier financial sanctions.
The lower decisions were reversed as regards refusal of moratorium interest. That part was remitted for reconsideration of the amount. It would therefore be incorrect to say that the Supreme Court itself finally awarded a particular additional interest sum. The established liability ground and the interest component must also be kept distinct.
Principal, earlier sanctions and moratorium interest
Article 61.11(11) links the amount to unpaid creditor claims and contains special restrictions, including claims held by the respondent or persons interested in relation to that respondent. The judicial position on interest does not remove the need to examine the claim’s composition, the harm caused and statutory grounds for reducing liability.
| Component | What to check | What to avoid |
|---|---|---|
| Principal claim | The established amount, creditor and recoveries | Counting an already paid portion again |
| Sanctions before the special regime | The basis, accrual cut-off and supporting documents | Mechanically adding the same sanction for a period when it was replaced |
| Moratorium interest | The applicable procedural rule, base, rate and intervals | Excluding it solely because there is no separate register entry |
| Interest already paid | The payment purpose and allocation | Recovering the same interest sum twice |
| Claim against a particular controller | The ground and limits of that person’s liability | Copying another respondent’s calculation without legal analysis |
This article addresses the question examined under Article 61.11. Liability for failing to file a bankruptcy petition has a different composition and obligation period; first check the Article 61.12 rules. Having several respondents in one bankruptcy case does not make their calculations identical.
Review interest before adding it to the total
Article 126(2.1) establishes special accrual in liquidation bankruptcy and ties the rate on a rouble claim to the opening date of that procedure. It permits an agreement for a lower amount or shorter accrual period. Paragraph 7 of Plenum Resolution No. 88 limits the base to the principal claim: interest on that claim is not automatically added to the base.
- Identify the established principal claim and separate interest and sanctions.
- Show the beginning and end of each procedural interval without counting boundary days twice.
- Document the rate on the relevant date rather than substituting today’s rate when preparing the table.
- Check agreements changing the amount or accrual period.
- Explain the change in the base after partial principal repayment; account separately for interest payments.
- Reconcile the calculation with bank statements and distribution records.
The total claimed should disclose the interest already calculated. If a later period is also claimed, justify the formula and terminating event separately. A ruling permitting inclusion does not automatically approve every future amount, rate or capitalisation method.
Illustrative reconciliation of what remains unpaid
Assume the claims attributable to this respondent establish RUB 1,400,000 in outstanding principal, RUB 60,000 in earlier sanctions and RUB 120,000 in separately verified moratorium interest. Of that interest, RUB 30,000 has already been paid but is not yet reflected in the starting schedule.
The unpaid interest is RUB 120,000 − RUB 30,000 = RUB 90,000. The working total is RUB 1,400,000 + RUB 60,000 + RUB 90,000 = RUB 1,550,000. This is a hypothetical reconciliation on stated assumptions, not an automatic liability award. If the RUB 30,000 was already deducted in the original schedule, it must not be deducted twice.
This example does not calculate interest using an arbitrary rate or transfer the facts of case No. А74-5486/2020 to every director. The base and periods must be supported by documents from the particular case.
Attachments and the disputed issues
| Document | Purpose | Connection to the argument |
|---|---|---|
| Decisions establishing the principal claim | The base’s composition and amount | Why this particular figure is used |
| Decisions introducing procedures | The dates of the special regime | Start and changes of intervals |
| Accrual schedule | Each line’s formula and the total | Rate, days and rounding |
| Payments and allocation records | Principal and interest recoveries | Changes in the base and removal of sums already paid |
| The controller’s liability decision | The ground and procedural stage | Keeping the amount dispute distinct from relitigation of the ground |
The creditor’s position: identify the inclusion basis, attach a separate interest calculation and explain what remains unpaid. Do not leave a single unexplained total in the relief requested or attachments. The general application structure should be supplemented with this schedule.
The respondent’s position: produce a specific counter-calculation. For example: “Line … uses a base including …, although document … establishes principal repayment of … . Line … uses a rate from a different date. Interest payment … has not been accounted for.” Do not substitute a general denial that interest can be recovered for a response to the figures.
Check the procedural stage separately. If the amount has already been decided in a final judgment, a new reference to the Supreme Court ruling does not trigger automatic reopening. An appeal or review requires its own grounds and time limits. Do not describe a revised calculation as a new claim without analysing the previous result.
Frequently asked questions
Can interest be ignored because it is absent from the creditors’ register?
That argument alone is insufficient. The Supreme Court rejected a general refusal based on that approach. The composition and amount of the interest component still require separate scrutiny.
Did the Supreme Court itself award additional interest in the 2025 case?
No. It reversed the refusal and remitted that part for reconsideration to determine the amount.
Can moratorium interest accrue on interest already calculated?
Not automatically. Review the base under paragraph 7 of Resolution No. 88. Interest on the principal claim must not simply be added to that base.
Does an interest payment always reduce the principal base?
No. Establish its purpose and allocation. Principal repayment and interest payment affect the schedule differently.
Does the conclusion apply identically to every director-liability ground?
Do not transfer it without legal analysis. The examined position concerns the amount under Article 61.11. Late filing and other claims have their own conditions.
Checked: 26 October 2026. The full Supreme Court ruling of 4 August 2025, No. 302-ЭС24-490(2,3), case No. А74-5486/2020; Article 61.11 and Article 126(2.1) of Federal Law No. 127-FZ, current version dated 4 August 2026; paragraph 7 of Plenum Resolution No. 88. Future changes have not been applied. This guide concerns Russian law.
For an initial consultation, prepare the liability decision, interest schedule, principal-debt documents and payment records. The disputed lines and procedural route can be assessed without guaranteeing recovery or reduction.