Lawyer Pavel PetrovLawyer Pavel Petrov

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Special Bank Account in Russian Personal Bankruptcy

In briefDuring Russian debt restructuring an individual may open a special bank account and use the funds without the financial manager’s consent. Transactions disposing of the funds may not exceed RUB 50,000 per month. The commercial court may increase the limit upon a reasoned application.

Debt restructuring only

Article 213.11(5.1) does not automatically apply during the sale-of-assets procedure.

RUB 50,000 monthly

This is a transaction limit, not guaranteed income or a universal protected balance.

The court may increase it

A documented expense calculation is required.

Purpose of the account

Debt restructuring restricts the individual’s dealings with property and ordinary bank accounts. The special account permits documented everyday spending within the statutory limit without a separate approval for every payment.

It is not a device for removing money from the procedure. The account and transactions remain visible to the manager, court and bank. Funds on other accounts generally require the manager’s prior written consent, save for assets protected from enforcement by law.

Procedure matters. Once the individual is declared bankrupt and the sale-of-assets procedure starts, the financial manager exercises rights over the bankruptcy estate. The restructuring limit cannot simply be carried into every stage.

Practical steps

  1. Obtain the court order commencing debt restructuring.
  2. Ask the bank which documents it requires for an Article 213.11(5.1) account.
  3. Provide the details to the financial manager and retain statements.
  4. Track aggregate outgoing transactions during each month.
  5. Keep third-party money and unexplained receipts away from the account.
  6. Apply to the commercial court if the statutory amount is objectively insufficient.

Increasing the limit

The court has discretion. The application should identify family composition, housing, treatment, travel to work, child support and other necessary expenses. Contracts, receipts, medical records and a monthly schedule make the request verifiable.

TaskEvidenceRisk
Open the accountCourt order, identity and manager detailsAn old account does not become special automatically
Observe the limitAll monthly disposalsSplitting payments does not increase the total
Increase the limitNecessary recurring expensesAn undocumented request may fail
Explain receiptsSource and legal characterThe account does not immunise questionable funds

Common errors

A pre-existing card is not automatically the statutory special account. Nor does the RUB 50,000 rule create a universal exemption from the estate: it governs disposal during restructuring. Family transfers, loan repayments and income must still be disclosed and explained.

Related guides: personal bankruptcy, salary during bankruptcy and the financial manager.

Frequently asked questions

May the debtor spend RUB 50,000 without consent?

Yes, from the statutory special account during restructuring and within the aggregate monthly transaction cap.

Can several accounts multiply the limit?

No statutory basis permits multiplying the cap by opening several accounts. A single transparent account is the prudent approach.

Must the court increase the cap?

No. The court evaluates the evidence and circumstances.

Does the rule apply during asset sales?

Article 213.11(5.1) concerns restructuring; the sale-of-assets stage has a different regime.

Official sources

Need a workable account arrangement?

We can review the procedure, bank documents, limit and grounds for a court application without promising a predetermined result.

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