Not only a debt amount
Insolvency, insufficient assets or inability to pay other creditors may trigger the duty.
Notice first
The intention to file is disclosed on Fedresurs at least 15 calendar days in advance.
Evidence controls
The court examines the real financial position, not merely the director’s assertion.
Right and duty to file
Article 8 allows a debtor to file where circumstances clearly indicate future inability to perform monetary obligations and mandatory payments on time. It permits an orderly filing before the business has completely stopped.
Article 9 requires the director to file where payment of one creditor prevents payment of others, enforcement against assets materially impairs business, insolvency or insufficient assets exist, a competent corporate body resolves to file, or another statutory ground applies.
Key deadlines
| Step | Deadline | Evidence |
|---|---|---|
| Mandatory director filing | As soon as possible, no later than one month after the ground arises | Financial analysis, defaults, enforcement and corporate decisions |
| Liquidation commission | Ten days after insolvency or insufficient assets are identified | Balance sheet, minutes and discovery date |
| Notice of intention | At least 15 calendar days before filing | Fedresurs notice and publication date |
| Service of copies | Before filing, with delivery evidence | Creditors, public authorities and other Article 37 recipients |
Signature and court
The petition is filed with the commercial court at the company’s registered location. It is signed by the director or another person authorised by the constitutional documents. A representative may sign only if the power is expressly stated in the power of attorney.
The current corporate register, director’s authority, charter and corporate decisions should be checked. A shareholder conflict does not excuse the director from independently assessing Article 9 grounds.
Required petition contents
Article 37 requires the court name, undisputed monetary claims, employee and mandatory-payment arrears, reasons why payment is impossible, pending litigation and enforcement, assets, cash and receivables, corporate registration and tax numbers, bank accounts and the exhibit list.
A statement that the company “cannot pay” is insufficient. The petition should explain when obligations matured, payments made, why further performance would prejudice other creditors and what assets could cover the proceeding’s costs.
Article 38 documents
- Evidence of debt, its basis and inability to perform in full.
- Constitutional and registration documents.
- A creditor and debtor list with amounts and addresses.
- The latest balance sheet or substitute accounting records.
- A corporate filing resolution where adopted or internally required.
- Decisions appointing shareholder and employee representatives where applicable.
- Commercial Procedure Code documents, service evidence and the notice publication.
Commercial Court Plenum Resolution No. 91 requires evidence that the debtor has assets sufficient to cover bankruptcy costs. Without it, the petition may be left without progress and ultimately returned.
Preparing creditor and debtor lists
A single balance-sheet total is not enough. For each person, record name, address, basis, amount, maturity, security, litigation and enforcement. Employees, taxes, collateral, guarantees, active contracts and receivables require separate reconciliation.
Differences between the list, accounts, bank statements and enforcement records raise completeness concerns. Contracts, accounts, litigation and assets should be inventoried before filing.
After filing
The court reviews form, contents and exhibits and decides whether to accept the petition. Acceptance is not immediate adjudication of bankruptcy: the court later examines the petition and determines whether observation or another statutory outcome follows.
See the general guide to corporate bankruptcy, the separate creditor petition against a company and the special route for a company already in liquidation.
Late-filing risks
Delay may lead to a claim under Article 61.12 for liabilities arising after the filing deadline, subject to proof of the trigger, responsible person, later claims and causation. Liability is not imposed automatically merely because a person held office.
Asset concealment, false accounting or selective repayment may be assessed separately. A petition should therefore provide timely and complete disclosure rather than a superficial defence document.
Frequently asked questions
Must the company wait for three months of default?
There is no universal waiting rule for every own mandatory petition. The particular Article 9 ground and its date must be determined.
Is an LLC shareholder resolution required?
Legislation accounts for such a decision where adopted, and the charter may allocate internal powers. Corporate procedure cannot justify ignoring the director’s statutory duty.
May the debtor choose the interim administrator?
The SRO is determined through the special process linked to the notice; direct selection of a particular administrator by the debtor is restricted.
What if the creditor list is incomplete?
The court may require correction, and incomplete disclosure may affect later assessment of the company and director’s conduct.
Does filing stop enforcement?
Sending the petition alone does not create every procedural consequence. Acceptance and later court orders matter.
Official sources
- Bankruptcy Law Article 9;
- Bankruptcy Law Article 37;
- Bankruptcy Law Article 38;
- Commercial Court Plenum Resolution No. 91.
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