Powers of the bankruptcy trustee: control over the work

Bankruptcy of a legal entity persons | 10/24/2019 | 3166

The final procedure carried out in the bankruptcy process is bankruptcy proceedings. It is after this that the debtor finally ceases its activities and is deleted from the Unified State Register of Legal Entities. Let's see what this procedure is and how exactly it is carried out.

Manager concept

The bankruptcy arbitration manager is a specialist with knowledge and skills in anti-crisis management of companies and assets of individuals. It is appointed exclusively by the court. Its main function is to control the activities carried out by companies or individuals. He ensures that the debtor's credit obligations are satisfied as much as possible.

Based on the Federal Law “On Bankruptcy”, the basic rules for the work of a specialist include:

he acts as a link between the debtor, creditors and the court;
they must respect the interests of all parties;
all his actions must be aimed at ensuring that the debtor is declared insolvent on the basis of legal requirements;
all participants must be satisfied with the work of the specialist, since otherwise they have the right to replace him;
if there is no manager, the debtor will not be able to independently cope with the claims and demands of numerous creditors represented by companies or individuals;
a specialist is appointed by the court, although each debtor has the opportunity to nominate his own candidate for this position.

For his work, the specialist receives a certain remuneration, and all expenses incurred by him are also reimbursed.

Who can become a manager?

The bankruptcy trustee performs many different activities and tasks at once, so he is appointed only when numerous requirements are satisfied. These include:

a citizen must have higher education;
he must be a member of an SRO specially created for the training of managers;
a specialist works with two or three assistants;
only after working as an assistant for several years can he become a full-fledged manager;
required to successfully pass an exam based on a program created for training specialists;
a criminal record is not allowed;
work experience in any managerial position must exceed 2 years;
You are required to purchase a professional liability insurance policy.

The specialist must have Russian citizenship. He has the right to initiate various official procedures within the framework of the bankruptcy of any citizen or enterprise. A bankruptcy trustee may insist on debt restructuring or assess assets, initiate bankruptcy proceedings, or take numerous other actions. At the same time, it is important that he complies with the requirements of the SRO of which he is a member.

Types of managers

The bankruptcy trustee has numerous rights and responsibilities. Functions may change depending on various factors and circumstances, as well as decisions made.

Specialists may be called differently depending on what specific actions they perform, as well as at what stage of bankruptcy they carry out their activities.

Legal status and powers

When the stage of bankruptcy occurs, which is associated with the sale of the debtor’s property, the arbitration court appoints a person to manage the debtor organization. The following powers of the bankruptcy trustee during bankruptcy proceedings are established at the legislative level:

studying the financial situation of the debtor;
creating conditions for preserving property and minimizing the risks of its loss;
maintaining a register of creditors' claims;
establishing the location of the debtor’s property with subsequent tracking and control;
conducting property assessments to cover debts to creditors;
accounting of the debtor's property;
filing a claim for collection of debt amounts.

Along with the responsibilities, the rights of a bankruptcy trustee in the event of bankruptcy of a legal entity are also distinguished:

management of the debtor's property;
work with personnel;
use and storage of documents;
termination of execution of agreements and transactions;
applying to the court to declare transactions invalid.

These rights and obligations of the bankruptcy trustee have an exhaustive list established by Federal Law No. 127-FZ. An extensive list of powers granted is a tool for effective debt collection. In view of equating this person with the head of the debtor organization, creditors have certain concerns about an incorrectly chosen debt repayment strategy, failure to comply with the functions of a bankruptcy trustee, and abuse of rights.

In order to control the activities of the manager, the meeting (committee) of creditors has the right to request a report on the activities performed and information on the financial situation. Such information is required to be provided at least once every three months.

The rights and obligations of the bankruptcy trustee are regulated by the Insolvency Law. The specialist begins bankruptcy management in case of bankruptcy of a company from the moment of opening until the date of completion of the proceedings. Let's consider the basic rights of the bankruptcy manager:

disposal of property and assets of the debtor company (sale of collateral and other property of a legal entity);
regulation of the fulfillment of financial obligations under contracts of a legal entity (if compliance with the terms of the transaction harms the financial position of the company, the manager has the right to refuse to comply with its terms);
submitting a petition to the court to invalidate a transaction that may affect the solvency of the company;
dismissal of company personnel;
transfer of company documents for safekeeping to an authorized person;
other powers related to the performance of other specialist duties.

And also an official can be granted additional rights at the mutual desire of the participants.

The duties of the bankruptcy administrator include processing the dismissal of employees of a bankrupt company. Due to the fact that bankruptcy proceedings end with the liquidation of the legal entity, all personnel of the company must be dismissed. All categories of employees are subject to layoffs, regardless of their position and status in the company.

The manager must inform all company employees about this two months before dismissal. The specialist’s responsibilities also include paying wages to employees of the bankrupt enterprise and issuing relevant documents with a note indicating the reason for dismissal. Thus, during the period of bankruptcy proceedings, all affairs at the bankrupt enterprise are managed by a manager appointed by the judge.

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Temporary

This specialist is appointed by the court, and his main task is to monitor all actions performed by the debtor. According to the Federal Law “On Bankruptcy”, he performs the following actions:

guarantees the safety of the debtor’s property, since it is not allowed for the defaulter to hide or sell valuables in any way;
conducts an analysis of the financial condition of a citizen or organization;
generates a list of creditors' claims;
is engaged in holding meetings to which creditors are invited to discuss important issues.

A temporary manager is appointed for a period of up to 7 months.

Administrative

Such a bankruptcy manager for individuals or businesses is engaged in the financial recovery of the debtor, which allows him to cope with debts without the need to sell property. The responsibilities of such a specialist include:

he uses various measures to improve the financial condition of the debtor;
the accrual of fines, interest or penalties is suspended;
new fines from creditors are cancelled;
The specialist insists on carrying out a restructuring, which will create a new payment schedule according to which the debtor will deposit funds without any difficulties.

Such a specialist is appointed only if there are signs that the citizen or organization will actually be able to cope with debts. Often, even the professional actions of the manager do not give the desired result, so the bankruptcy procedure has to be continued. The duration of such management cannot exceed two years.

External

This bankruptcy trustee is engaged in external management, the main goal of which is to restore the solvency of a person or enterprise. The nuance of the process is that the company is still managed by its manager, and the manager only monitors his actions and also advises him.

A specialist deals with the debtor’s accounting documents, creates a plan based on which the financial condition of the company or citizen is improved, and also helps in management.

External management is not a mandatory stage of bankruptcy, so it is introduced only if there are appropriate grounds. The duration of this stage cannot exceed 18 months.

Competitive

A bankruptcy trustee is appointed in a situation where all actions aimed at improving the financial condition and solvency of the debtor do not give the desired result. Therefore, the only way to repay the debt is the sale of property and assets. For this purpose, open tenders are held by the bankruptcy trustee. He has many powers:

fully independently manages all assets belonging to the client;
looks for property that was hidden in various ways by the debtor;
returns valuables promptly sold or transferred to third parties in order to hide them;
uses the help of professional appraisers who study all the property owned by the debtor in order to understand what amount can be received as a result of bankruptcy proceedings;
organizes open tenders;
sells the debtor's assets at such auctions, for which assets are provided to those participants who offer the highest price.

All actions must be completed by a specialist within six months. Often during this period of time it is not possible to cope with the assigned tasks, so the court increases the duration of the stage.

Each debtor has a pre-emptive right to purchase his property. The money received as a result of the auction is transferred to creditors based on the priority in the register. Taking this amount into account, the specialist’s remuneration is determined. Based on the work performed, a report is generated on a specific bankruptcy case.

bankruptcy trustee

Advice from lawyers:

1. The cost of services of a bankruptcy trustee in case of bankruptcy of an individual. persons? Who pays?

1.1. If there is nothing to take from you, then the person who submitted the application.

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2. Question - in case of bankruptcy of an individual. whether a bankruptcy trustee is needed,

2.1. Law on bankruptcy of individuals. individuals have not yet begun to act...

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3. Who sets the salary of the bankruptcy trustee in case of bankruptcy of a company?

3.1. The bankruptcy trustee's remuneration is determined by the Federal Law on Bankruptcy. Article 20.6. Part 1 The arbitration manager has the right to remuneration in a bankruptcy case, as well as to compensation in full for expenses actually incurred by him in the performance of his duties in a bankruptcy case. Part 22. Remuneration in a bankruptcy case is paid to the arbitration manager at the expense of the debtor, unless otherwise provided by this Federal Law. Part 3. The remuneration paid to the arbitration manager in a bankruptcy case consists of a fixed amount and an amount of interest. The fixed amount of such remuneration is for: temporary manager - thirty thousand rubles per month; administrative manager - fifteen thousand rubles per month; external manager - forty-five thousand rubles per month; bankruptcy manager - thirty thousand rubles per month.

The amount of remuneration may be reduced by the arbitration court if there is a justified request from the Creditors on the basis of Art. 111 Arbitration Procedure Code of the Russian Federation.

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4. When purchasing an LLC share at a bankruptcy auction, is it necessary to have the agreement certified by a notary? I saw a lot of information that auctions are regulated by law and notarization is not required. But the bankruptcy trustee insists. He says that they have a notarial procedure for re-registration, so that the court will not have questions later when completing bankruptcy proceedings... ...the share at par is very expensive, the fee for registration with a notary will not be expensive. Please explain. what can be done? Thank you.

4.1. Need to. The reason for the acquisition is unimportant. Arbitration/financial manager Vitaly Snytko.

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5. Can the bankruptcy trustee include in the bankruptcy estate and put up for auction property obtained fraudulently and under arrest by a criminal court verdict, Article 159. Part 4 of the Criminal Code of the Russian Federation of a conditionally convicted bankrupt individual, because The bankruptcy law does not regulate criminal proceedings. Provided that out of 6 victims in a criminal case, five are included in the register of creditors, one is not included. Paragraph 9 clause 1 of article 126 of the Bankruptcy Law.

5.1. No, it cannot until the investigation lifts the arrest.

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5.2. Clarification of the Supreme Court regarding property seized as part of a criminal case - the arrest is lifted, the property is included in the bankruptcy estate.

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6. I bought an LLC with debts, which the seller hid during the sale, and indicated in the notarial agreement that the company was clean and without problems. I missed the possibility of bankruptcy out of ignorance, now the bankruptcy trustee is asking arbitration to involve me in subsidiary answers, but I was only listed as a director and founder and did not sign a single piece of paper, did not carry out a single transaction. The debt is enormous. There is a month before the trial. What awaits me? What to do?

6.1. You can then challenge the LLC purchase and sale agreement in court, but you need to look at what is written in it.

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6.2. Hello. Terminate the LLC purchase and sale agreement through the court.

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6.3. Hello. Termination of the contract in court is the only way.

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7. My father died, the apartment is registered on him, and the individual entrepreneur headed by him is also undergoing bankruptcy proceedings. When inheriting an apartment, how will a bankruptcy trustee who bankrupts an individual entrepreneur behave? And also debts?

7.1. If the apartment is the only one, then the bankruptcy trustee will not touch it in any way if you receive a certificate of the right to inheritance in advance; if the individual entrepreneur dies, he will go bankrupt and the debts will not pass to you.

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8. Was the founder of an LLC, 1/3 share. He left the founders in August 2020. 11 days before my resignation, the Director, who is also the founder, entered into an agreement with another construction company, without informing me. This agreement led to bankruptcy in 2019. The bankruptcy trustee wants to hold me vicariously liable. What could this mean for me?

8.1. According to the text - nothing. There was no expression of your will on this issue, and the transaction was carried out without your participation, i.e. and without your fault for what happened.

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8.2. Most likely nothing, based on the information you provided. For a more detailed answer, you need to familiarize yourself with the documents and the bankruptcy trustee’s statement. Arbitration/financial manager Vitaly Snytko.

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9. Can the presence of a writ of execution affect when applying for a job? Was there a transaction to purchase a vehicle from a company in bankruptcy, which was later declared invalid? The writ of execution is not closed because the bankruptcy trustee is delaying the transfer of property?

9.2. Question from the series: two birds are flying, one big and the other to the left, how old is the hedgehog. One of the principles of labor legislation is the prohibition of discrimination in the world of work.

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10. I entered into an agreement with a law firm. I owed money to the bankruptcy trustee, who hired me as a third party as an accountant to keep records in the company during bankruptcy. There is an agreement, extra. agreement, act of completed work with the manager. The law firm lost a 99% winning case, I think that it was not competent in relation to court cases in bankruptcy. Moreover, I was also awarded the defendant’s costs. What are my actions in relation to this company and the defendant. Bankruptcy ended on February 6, 2018. Thank you!

10.1. If there is reason to believe that the company has not fulfilled the terms of the contract, you can demand the return of part of the payment under the contract (in addition, the contract may have special conditions).

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11. I can’t find an article in the Housing Code of the Russian Federation stating that if an apartment is in social rent, it does not have the right to be included in the bankruptcy estate in the event of bankruptcy of the management company. Thanks for the answer.

11.1. Natalya, there’s nothing to look for here... the municipal apartment does not belong to you, but belongs to the municipality, how can you include in the bankruptcy estate in bankruptcy something that does not belong to you?

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11.2. Only what belongs to you can be included in the bankruptcy estate. This apartment belongs to the state.

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11.3. You will not find such an article in the Housing Code of the Russian Federation, since this law does not regulate relations related to bankruptcy. An apartment in social rent cannot be included in the bankruptcy estate, since it is not related to the debtor’s property.

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12. Do I have to pay expenses to the bankruptcy trustee in case of bankruptcy of a housing cooperative? The register of requirements for an apartment contains:

12.1. If you are a lender, then no.

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12.2. Hello, if you are a petitioner in a bankruptcy case, then in some cases, you may be required to pay the administrator's fees and costs. Applicant is a person on the basis of whose requirements the court declared the debtor bankrupt and introduced bankruptcy proceedings.

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13. Who will be the defendant in the claim of a member of SNT for recognition of estimates as illegal, approved solely by the bankruptcy manager of SNT? (during bankruptcy proceedings)

13.1. The bankruptcy trustee of SNT, you are appealing his actions.

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14. On April 8, 2020, she was fired due to layoffs; on April 15, the organization filed for liquidation and a bankruptcy court was appointed for June 20, 2019. Dismissal benefits (vacation pay) and compensation for dismissal for 3 months remained unpaid. Will the bankruptcy trustee pay these payments voluntarily or should he go to court? And won't it be too late?

14.1. Good afternoon. You need to apply to the arbitration court to include a claim for payment of benefits and vacation pay in the register of creditors.

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14.2. No, you need to write a letter to the arbitration manager to include you in the register of creditors regarding wage arrears (Attach to the application documents confirming the existence of wage arrears (employment contracts; payslips; extracts from paid bank cards... (certified copies). If the organization has initiated bankruptcy proceedings, then all employees working in the organization that has initiated bankruptcy proceedings must send an application to the insolvency administrator and send it by registered mail with notification.

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15. We can submit applications to the arbitration court for inclusion in the bankruptcy register, but we do not have a decision... we just found out today that a bankruptcy trustee has been appointed and everything is heading towards bankruptcy of the enterprise. We only sent a complaint.

15.1. You do not need a court decision; the main thing for you is to submit your claims as a creditor to the court, justifying your claims. Submit to the arbitration court for inclusion in the register of creditors with all supporting documents.

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15.2. Dear Alina! According to paragraph three of paragraph 1 of Article 142 of the Bankruptcy Law, the register of creditors' claims is subject to closure after two months from the date of publication of information on declaring the debtor bankrupt and on the opening of bankruptcy proceedings. For the consequences of missing the deadline, see clause 4, 5 tbsp. 142 of the Bankruptcy Law, Read more >>> I recommend that you promptly seek legal assistance to prepare and submit to the ARB the corresponding claim of the creditor and represent his interests in the bankruptcy proceedings of the debtor.

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15.3. Alena, hello. You do not need a court decision to include your claims in the register. It is necessary to timely submit an application to the arbitration court for inclusion in the register. The arbitration court, when considering the application, will check the validity and size of your claims. You can draw up an application yourself or seek help from a lawyer.

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16. Will a bankruptcy trustee be needed during bankruptcy proceedings if only a laptop is the property? If so, what are the costs for it in rubles and in time?

16.1. A financial manager is required regardless of the presence or absence of property from the debtor.

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16.2. Good afternoon. The participation of the Arbitration Manager in the bankruptcy procedure is mandatory regardless of the availability of property. The cost of services consists of the number of creditors, the total amount of debt, property, and major transactions over the last 3 years. By region it varies from 70 tr. to infinity)

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17. How does the bankruptcy trustee dispose of non-privatized land plots in the event of bankruptcy of ST?

17.1. Bankruptcy of SNT is how and why this is the first time I’ve seen this and why bankruptcy of SNT where do the debts come from in SNT I don’t understand?

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17.2. Plots for which ownership has not been registered are not included in the bankruptcy estate. With respect, lawyer in Volgograd - Stepanov Vadim Igorevich.

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18. In case of bankruptcy of an individual entrepreneur, are debts on land and transport taxes also transferred to the bankruptcy trustee or are they paid as an individual?

18.1. Hello. Transferred to the competition.

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19. Can an assignment agreement be concluded 4 years after the organization is declared bankrupt? Despite the fact that the organization that was declared bankrupt still exists to this day and is not excluded from the Unified State Register of Legal Entities. How long after bankruptcy must the bankruptcy trustee enter into an assignment agreement?

19.1. May be concluded. How to understand “must conclude”... This is his right, but not his obligation...

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20. The arbitration court, when considering the completion of the competitive process, issued a ruling on termination in the case acc. Paragraph 8, clause 1, article 57 of the bankruptcy law (lack of financing for further conglomeration). Is this determination legal and is it possible to appeal it on what grounds and within what time frame? The bankruptcy trustee performed his job formally, which is confirmed by numerous evidence in the case materials, which the court for some reason ignored.

20.1. In accordance with part 1 of Art. 223 of the Arbitration Procedure Code of the Russian Federation and clause 1 of Art. 32 of the Bankruptcy Law, insolvency (bankruptcy) cases are considered by the arbitration court, as mentioned earlier, according to the rules provided for by the Arbitration Procedure Code of the Russian Federation, with the features established by federal bankruptcy legislation. The procedure for appealing rulings made in insolvency (bankruptcy) cases is regulated by the Arbitration Procedure Code of the Russian Federation and the Bankruptcy Law, and is also explained in the Resolution of the Plenum of the Supreme Arbitration Court of the Russian Federation dated April 8, 2003 No. 4, in the Resolution of the Plenum of the Supreme Arbitration Court of the Russian Federation and dated December 15, 2004 No. 29. I According to the general rules of section VI of the Arbitration Procedure Code of the Russian Federation, i.e. to the court of appeal - within a month from the date of their adoption, to the court of cassation - within two months from the date of their entry into legal force (Articles 188, 272, 276 and Article 290 of the Arbitration Procedure Code of the Russian Federation) Not from your question It was clear whether the appeal to recognize his/her actions as inconsistent with the law was at all clear. If this issue was not addressed, then the court on its own initiative could not make a decision.

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Stages of work

The bankruptcy procedure for any debtor is carried out in several successive stages. They may vary slightly depending on different circumstances and features. But as a standard, it is required to involve a financial manager who assesses the condition of the company or person, develops measures to restore solvency, and also sells property and pays off with creditors.

How does the bankruptcy procedure work? To do this, successive steps are implemented:

a claim is filed to declare the defaulter bankrupt, and it can be filed by creditors, government agencies or the citizens and enterprises themselves;
a receiver is appointed by the court;
the specialist collects information about the debtor’s financial condition, previous transactions and other features of his work;
all creditors are notified of the commencement of the procedure for declaring the defaulter insolvent;
a management plan is being formed, which may include reorganization if there are signs that make it possible to restore solvency;
holding a meeting of creditors, and often a settlement agreement is formed at it or a decision is made to conduct bankruptcy proceedings;
the approved plan is submitted to the court;
a decision is made by the court;
the debt restructuring procedure is controlled;
if it is not possible to restore solvency, then bankruptcy proceedings are carried out;
debts are repaid as much as possible;
remuneration is paid to the manager, who additionally receives compensation for all expenses incurred.

Based on the work performed, a report from the bankruptcy trustee is drawn up. This document lists all the actions implemented by the specialist, and also lists the achieved results of the work.

Reporting

Lenders and the judge can request a report and information related to bankruptcy proceedings from a specialist. The bankruptcy trustee is required to prepare reports as requested. The standard form of the document contains the following items:

information about the debtor’s property that will be used to pay off his obligations;
information about the inventory carried out;
information regarding the valuation of the company's property;
data on the amounts of creditors’ claims and the order of their repayment;
information about funds received into the legal entity’s account, proceeds from the sale of the company’s property;
facts about assets identified and seized from third parties;
a report on the results of the work done (list of repaid debts, list of seized property, data on expenses, work on invalidating the transaction, etc.);
information on measures taken to bring the company's management to subsidiary liability;
data on the number of dismissed workers and information on working personnel.

Failure to submit the requested reports indicates the incompetence of the manager and his dishonest attitude towards work. After completion of the production, the manager draws up a final report on the results of his activities and provides information about the company to the Pension Fund.

It should contain the following information:

date and place of compilation;
manager details;
data on third parties involved in the production process;
complaints about the manager’s work (if any);
information about the realized rights and obligations of the specialist;
data on the bankruptcy estate;
a list of measures taken aimed at preserving the debtor’s assets;
information about the register of lenders indicating the amounts of creditor claims against the company;
information about the sale of the company’s property and the proceeds;
measures taken by a specialist to increase cash flows to the company’s account;
information about the company's debts paid;
information about the personnel of the bankrupt company;
information about the manager’s expenses;
signature of the official and seal of the organization.

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The report is accompanied by a register of creditors and other documents confirming the information specified in the report. When sending the report to the judicial authority, the manager must inform all participants in the process about this.

How is a specialist appointed?

The appointment of a bankruptcy trustee is carried out in the correct sequence of actions. For this, the following nuances are taken into account:

when drawing up an application to initiate bankruptcy proceedings, you can specify different SROs of insolvency practitioners so that the court selects one participant from these organizations to manage the process;
the court makes a request to the SRO with a request to provide any candidate for the role of manager;
specialists evaluate the remuneration that they can receive based on the results of their work, and if it is too small, they refuse the offered vacancy, for example, if the debtor does not have personal property and savings;
if within three months it is not possible to find a specialist, then the case is not considered;
if the right candidate is found, it is approved by the court, and it is first important to make sure that the specialist does not have any connections with the debtor, since otherwise the procedure will be illegal.

Only after appointment by the court can the appointed manager begin his immediate duties. He carefully studies the bankruptcy case, evaluates the debts the defaulter has, and also performs other actions to recognize the citizen or company as insolvent.

Responsibility of SRO

Receivership in bankruptcy does not pursue the goal of saving a company from ruin, since the bankruptcy of the enterprise has already been officially approved by a judge.

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The bankruptcy manager needs to sell the bankrupt’s property and pay off his debts with the proceeds (Article 129 of Federal Law No. 127).

Article 133 of the Bankruptcy Law obliges a bankrupt company to have only a single bank account. This is where the bankrupt's money from the sale of assets and property will be kept for the time being. If there are several accounts, the bankruptcy manager closes the extra ones, accumulating all the money in one of them.

If the debtor issued shares with a mortgage backing, then according to Law No. 152-FZ, a separate account must be created for each such issue. It will not be possible to close such accounts, but the funds contained in them are also taken into account in the bankruptcy estate.

On a monthly basis, the bankruptcy trustee reports to creditors and arbitration on the movement of money in the bankrupt's current account.

Sometimes the bankruptcy manager is temporarily removed from the case or even “removed from office.”

Suspension

due to the court satisfying the corresponding petition from the meeting of creditors (ground: inadequacy for the position, fails); on the basis of a reasoned complaint about losses incurred from the activities of financial law or the danger of incurring them (any interested citizen has the right to write);
it turned out that the bankruptcy specialist does not have the right to hold this position (does not meet the qualification requirements);
the bankruptcy manager violated the charter of the SRO of arbitration managers and he was expelled from its composition;
the actions of the bankruptcy manager violate the norms of the Code of Administrative Offenses of the Russian Federation;
based on an application for self-recusal.

As soon as the bankruptcy trustee is removed, the judge then appoints another bankruptcy specialist. Such a decision may be challenged.

What is the bankruptcy manager most often accused of when demanding his resignation? Surprisingly, this is rarely a professional mismatch. Usually - banal sluggishness. Thus, the financial authority is obliged to publish information on the progress of bankruptcy on the Fedresurs portal in a timely manner. But he forgets to do it. For which there are fines, but if you forget again, you can easily get a recusal.

Errors in the process of assessing the value of the bankruptcy estate are also common. But these mistakes can hardly be called malicious intent. The financial manager constantly reports on the progress of his work. He will definitely be forced to redo the report if he messes up. Therefore, it is not in his interests to allow inaccuracies or make big mistakes. His activities are as transparent as under a microscope: too many eyes are watching him.

The activities of the bankruptcy manager at the final stage of bankruptcy are strictly scheduled.

Within ten days after his appointment, he is obliged to publish information that bankruptcy proceedings against the bankrupt have begun (Fedresurs and the Kommersant newspaper).

Ninety days after taking office, the manager must conduct a complete inventory of the company’s property. Make a detailed inventory and estimate how much each item costs. In this way, he forms a bankruptcy estate, after the sale of which at electronic auctions, creditors will finally begin to receive their money.

After creating an inventory of the items that make up the bankruptcy estate, the bankruptcy manager enters this information into the information register.

Then auctions are organized. Based on the results, another report will be required from the bankruptcy manager.

After each stage of bankruptcy, a detailed report on its results is compiled. Based on this report, creditors and the judge can judge the success or, conversely, failure of the manager’s actions. The report is accompanied by analytics: why things are this way and not otherwise, what contributed and what prevented the enterprise from fully using the remaining potential.

The report is accompanied by a large number of documents confirming the words of the bankruptcy trustee:

about the facts of the sale of the bankrupt’s property;
paying off debts;
written notification to the Pension Fund of the Russian Federation about the bankruptcy of a legal entity.

In addition to the above, the report is accompanied by a register of creditors' claims, which indicates the repaid and remaining outstanding debts.

The meeting of creditors has the right to control the work of the bankruptcy manager (Article 143 of Law 127-FZ).

He must report on the progress of work at least once every three months. We're talking about reports. However, if creditors are concerned about any specific issue, for example, what expenses the manager incurs during bankruptcy, he is obliged to satisfy their curiosity as soon as the arbitration judge requests it.

The manager can be held liable for unlawful actions within the framework of bankruptcy.

Types of punishment:

Remove from office. At the request of the council of creditors, such a decision can be made by a judge. This decision can only be made by the court based on a petition from creditors.
Exclude from SRO. For gross violations, creditors can also complain to the heads of SROs, and they have the right to get rid of personnel who discredit the name of the organization forever.
Oblige to compensate for damage and material losses caused by the actions of the bankruptcy manager. Evidence will be required; without it, the court will not be able to make an appropriate decision.
Apply articles of the administrative or criminal code to the manager.

They don't punish you right away. They give you time to correct your mistakes. Didn't fix it? Please receive your punishment.

A complaint is a fairly serious document that you need to be able to write. According to statistics, the judge considers only one out of five complaints received against the actions of a bankruptcy manager as significant. All the rest are an attempt to unsubstantiate a person’s nerves.

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It is definitely worth inviting the management of the SRO to consider the complaint. It is aware of the small mistakes of a particular bankruptcy manager, unlike the judge and creditors, and the cup of patience may overflow: he will be punished, even if the court does not find anything criminal.

The bankruptcy trustee is obliged to provide full compensation for the damage that he voluntarily or unwittingly caused through his actions while dealing with the bankruptcy case (Clause 4, Article 20.4 of Law No. 127-FZ).

Was a penalty imposed on the financial officer by the court? Information about this is subject to publication on the Federal Resources website within three days.

Most often, financial authorities are attracted under articles of the Code of Administrative Offenses of the Russian Federation for:

Untimely settlements with dismissed employees of a bankrupt company.
Conducting transactions with the bankrupt’s property, as a result of which the interests of the parties to the bankruptcy case are not respected.
“Inappropriate” waste of targeted funds.

Punishment is fines of up to fifty thousand rubles. The Code also provides for disqualification for periods of six to thirty-six months, but in practice this provision is rarely applied. There are cases when the court is limited to a verbal warning and reprimand. But this is if the losses are minimal.

The following crimes of the bankruptcy manager fall under the Criminal Code of the Russian Federation:

when the financial manager decided to enrich himself at the expense of the bankrupt’s property by stealing or removing mention of it from documents;
if, for the same reasons, he withholds information about the bankrupt’s possession of valuables;
transfers the bankrupt's property to third parties not related to the bankruptcy case;
falsifies reporting documentation.

The Criminal Code of the Russian Federation comes into force if the damage caused by the actions of the manager exceeded a quarter of a million rubles.

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internal disqualification (from 1 to 6 months);
fines (1000-30000 rubles);
warnings and reprimands;
instructions to immediately eliminate identified deficiencies;
drawing up recommendations for the exclusion of the offender from among the members of the SRO and submitting them for consideration by the organization’s council. These recommendations may include a proposal to petition the court to remove the manager. The decisions of the disciplinary commission are appealed to the SRO council.

The arbitration manager is obliged, among other things, to provide reliable information on time:

judge;
meeting of creditors;
representatives of the executive branch.

For example, extracts from the register of claims at the request of any creditor, if the amount that the bankrupt owes him exceeds one percent of the total amount of debt. The extract must be provided five days after receiving the written request.

Also, the financial officer must immediately report all violations that he discovered while dealing with the bankruptcy case. After all, identifying signs of fictitious or deliberate bankruptcy is the area of his professional competence.

He is also obliged to inform the meeting of creditors about the possible consequences of transactions with third parties carried out within the framework of bankruptcy proceedings.

If the parties suffered losses due to information submitted late or not submitted at all, the financial authorities will have to answer.

Like every citizen or legal entity, a bankruptcy manager must comply with decisions made by the court.

Didn't complete it? They will be fined a symbolic amount of up to five thousand. Ignored again? Here the fines are already multiplied - up to two hundred thousand. And you can even go to camps for up to two years.

Without insurance, a bankruptcy manager will not be accepted as a member of the SRO. Insurance is necessary in case of damage that may result from the actions of the arbitration manager in a bankruptcy case. The arbitrator enters into a contract with the insurer for exactly one year. And then periodically extends it. The cost of insurance is from three million rubles. If a bankrupt has more than one hundred million in money and property, additional insurance contracts are concluded.

What powers do you have?

The powers of the bankruptcy trustee are quite extensive. In the process of conducting such a case, a specialist can perform various actions:

act as a financial observer, for which all accounts, money and assets of the client are controlled;
exercise the rights and obligations of a bankrupt on legal issues;
collect debts from other persons acting as debtors;
carry out an inventory of property;
invite appraisers to determine the value of valuables;
perform various actions aimed at protecting property so that it is not stolen, damaged or claimed by third parties;
organize open auctions, the main purpose of which is the sale of client valuables to obtain funds that are then sent to creditors to pay off debts;
transfer the proceeds to creditors;
identify signs of fictitious bankruptcy;
analyze recent transactions with property, and if it turns out that they were illegal, they are canceled;
provide information to creditors about the progress of the case.

A specialist can use certain privileges and powers depending on the specific situation.

Responsibilities and tasks

The bankruptcy trustee has broad powers that are transferred to him from the previous management of the company. According to Art. 129 Federal Law No. 127, the duties of the bankruptcy trustee include:

publications in the media and the EFRS about the beginning of bankruptcy proceedings;
financial analysis of the company's activities;
ensuring the safety of assets and documents of a legal entity;
organizing an inventory of the debtor's property;
valuation of the company's property with the involvement of specialized specialists;
regular notification of participants in the process about ongoing procedures;
entering information about the debtor's property into the register;
increasing the bankruptcy estate by identifying the company’s debtors and seeking company funds from third parties;
maintaining a register of lenders' claims;
notification of company employees about their layoffs;
dismissal and settlements with company personnel;
concluding transactions that will improve the financial position of the debtor;
submission of reports on the work done for a specific period;
fulfillment of other duties established by the court in accordance with the norms of current legislation.

All actions and functions of the bankruptcy trustee are aimed at preparing and organizing auctions of the company’s property to further satisfy the claims of creditors and other persons. After assessing the company’s property, the specialist provides the information received to creditors, describing the conditions for the sale of the debtor’s property and the payment of his debts.

Often the reason for a company's bankruptcy is not difficult economic conditions, but rather the managerial incompetence of top managers. During the bankruptcy process, especially at the stage of external management, active work is underway to correct the mistakes made by the previous management. Therefore, a bankruptcy specialist appointed by the court simply must be a great top manager of the company, head and shoulders above the previous managers.

For several months he has been leading the company, trying to return it to a normal rhythm of work. But often all efforts become fruitless.

A bankruptcy trustee is brought into the bankruptcy case of an enterprise when all attempts to save the sinking ship have led nowhere.

The role of this bankruptcy specialist is to profitably sell the property of a bankrupt company, thereby satisfying the requirements from the register of creditors as fully as possible. Without a higher legal or economic education, there is nothing to do as a bankruptcy specialist. He must be an active member of the SRO of financial managers.

The bankruptcy trustee is obliged to:

guard the documents and property of the bankrupt as a watchdog, having previously carried out an inventory and assessed the value of each lot;
enter into the EFRSB information about the property constituting the bankruptcy estate of this bankruptcy;
notify interested parties through publications about the progress of the bankruptcy stage;
inform workers about the upcoming dismissal two months in advance and make settlements with them on their last working day.

Rights of a bankruptcy trustee:

challenge any suspicious transactions of the previous management of the company in the last thirty-six months before bankruptcy;
sell the bankrupt’s property or otherwise sell it profitably (for example, give it to creditors to pay off debt, etc.);
close all bank accounts of a company that has fallen into bankruptcy, with the exception of the only one where all money should be transferred to pay off debt obligations;
officially request any organization about the presence of the bankrupt’s property unaccounted for in the bankruptcy estate;
announce self-recusal from participation in bankruptcy.

Cost of services

The manager's services are paid only by direct debtors. Funds are transferred immediately after the work is completed, but before the client’s debts to various creditors are repaid. According to the law, the minimum remuneration is 25 thousand rubles, since the responsibilities and scope of work are truly numerous. The above remuneration is a one-time fee and not a monthly payment.

For each procedure that is carried out by a specialist, 25 thousand rubles are assigned. Such procedures include restructuring, sale of valuables or drawing up a settlement agreement with creditors. Therefore, the fixed remuneration varies from 25 to 75 thousand rubles.

Additionally, a certain portion of the property sold is paid, equal to 7% of the proceeds. The same percentage is taken when calculating the size of the restructuring schedule.

Rules for changing a manager

According to the law, a specialist can be replaced if he cannot cope with basic tasks or violates the law in the process of work. The change can be made at the request of the manager himself or on the basis of a petition filed by the SRO, creditors or direct debtors.

The reason is usually a lack of knowledge about the rules of bankruptcy of a citizen or organization, the inaction of a specialist, which led to losses, as well as the identification of various violations or crimes in the process of work.

A new manager is appointed only by the court, for which new candidates are evaluated. When a specialist is removed, no remuneration is paid to him if at least one bankruptcy procedure has not been completed.

Grounds for recusal

The basis for changing the bankruptcy manager may be his exclusion from the organization in which he was registered, or neglect of his duties. Unscrupulous attitude towards work can also become a basis for the removal of a manager. To replace a specialist, the initiators must indicate their requirements in an appeal to the court.

After considering the petition, the judge may decide to disqualify the manager and appoint another specialist. If the participants who sent the petition did not indicate their candidacy for the place of the previous manager, the court requests a list of applicants in the specialized organization. The selection of a new candidate for the position of bankruptcy trustee is carried out jointly by the participants in the process.