Russian bankruptcy asset sale rules are the approved roadmap for realisation: lots, opening price, auction form, disclosures, deposit, timing, price reductions, payment and transfer. Article 139 governs a company; Article 213.26 governs an individual debtor. The document does not replace inventory, valuation or the resolutions approving and amending it.
More than an auction notice
The rules connect the asset, price, stages and documents into one auditable process.
The first timeline is one month
The draft follows completion of inventory and the required valuation.
Amendments need approval
New circumstances cannot silently alter a sale; the approved rules themselves must be changed.
Quick self-check
- Match every lot to the inventory.
- Verify the basis and date of the opening price.
- Find the creditor meeting or committee minutes.
- Compare the Unified Register disclosure and all amendments.
- Check auction form, deposit, payment and transfer at each stage.
Required Content
The rules cover more than an opening price. For a company, Article 139 links them to Article 110 disclosure data, publication channels, timing, auction form, tender conditions, price-submission method and organiser.
A workable document identifies the lot, inspection, application evidence, deposit, stages, price reduction, winner selection, contract, payment and transfer.
Company: Article 139
Within one month after inventory or a required valuation, sale proposals go to the creditor meeting or committee. Creditors may approve a different method, but it must seek the highest price and the broadest buyer participation.
No Approval Within the Period
If creditors do not approve the required terms within two months after submission, the insolvency administrator, a creditor or the authorised authority holding more than twenty per cent of registered debt may petition the commercial court.
The court order approving the method, timing and terms may be appealed. The mechanism sends an unresolved issue to court rather than allowing unilateral rewriting.
Individual: Article 213.26
After the individual’s inventory and valuation, the draft with the opening price is submitted to the creditor meeting or committee within one month. Creditors have two months to approve and may adopt a different method.
Approval and the opening price are disclosed in the Unified Bankruptcy Register. Parties may raise disagreements within two months after disclosure, and the court then approves the method and price.
Amendments and Version Control
Where circumstances require changes to company sale timing or terms, Article 139 requires proposals to creditors. The file should preserve the entire version chain: draft, minutes, disclosed version, court orders and amendments.
- inventory and valuation;
- draft sale rules;
- approval minutes;
- Unified Register disclosure;
- court orders on disagreements;
- dated amendments.
| Issue | Company | Individual |
|---|---|---|
| Statutory basis | Article 139 | Article 213.26 |
| Starting point | Inventory or required valuation | Inventory and valuation |
| Draft period | One month | One month |
| Approving body | Creditor meeting or committee | Creditor meeting or committee |
| Unresolved issue | Court petition under Article 139 | Court application within two months after disclosure |
| Disclosure | Mandatory sale information | Rules and opening price in the Unified Register |
Frequently Asked Questions
Are the sale rules and auction notice the same?
No. The rules govern the process; the notice announces a stage and must comply with the current rules.
May the price be changed without a new resolution?
Only within the approved mechanism. If the method, timing or terms must change, the amendment follows the statutory approval route.
Must creditors accept the draft?
No. They may adopt another lawful method directed at the best sale result.
Does a court always approve an individual’s rules?
No. Creditors approve first; the court resolves properly raised disagreements and other statutory issues.
What should a buyer review?
The current rules, amendments, minutes and court orders, not just the latest auction notice.
Legal Sources
- Article 110 of Federal Law No. 127-FZ.
- Article 139 of Federal Law No. 127-FZ.
- Article 213.26 of Federal Law No. 127-FZ.
Related guides: auction stages, auction organiser and sale outside the ordinary auction sequence.
Need to Review Sale Rules?
An initial consultation can compare the current version, creditor decisions, disclosures and the risks of a specific lot.
BOOK AN INITIAL CONSULTATIONGeneral information as at 28 August 2026. The governing version of the statute and court orders depends on the proceeding and sale date.