The relevant committee of the State Duma of the Russian Federation examined the bill No. 105976-6, which concerns the rehabilitation of a citizen who is the debtor.
The draft law notes that the initiative is aimed at protecting the interests of an individual, which is recognized as bankrupt, and allows you to resolve the relationship between the debtor and the creditor if there is overdue debt.
It is stipulated that the debtor can be declared bankrupt or receive a restructuring of his debt, and a plan of restructuring is approved, which is carried out by the debtor himself or the arbitration manager. The initiator of attracting an arbitration manager can become both a debtor and the creditor. Moreover, the one who appeals to his services will pay for them. The restructuring plan is drawn up for a maximum of five years. If a citizen has repaid his debts in good faith, then he, according to the wording of the law, “is released from debts, without losing an active social position”.
When the Russian is not able to return debts according to the restructuring plan, the arbitration court may recognize him bankrupt. To repay the debt, the court has the right to decide on the sale of property of the debtor. An individual can evaluate the value of property independently, but the meeting of creditors has the right to attract an appraiser for this purpose.
To terminate the proceedings in the bankruptcy case between the debtor and the creditor, a settlement agreement is concluded. At the same time, a Russian who was declared bankrupt enters the Unified Federal Register of Bankruptcy Information. The debtor-bankrot or the debt paid a debt for five years after that cannot be declared bankrupt. If a bankrupt individual is an individual entrepreneur (IP), then it loses all issued licenses and loses its state registration as an IP. If the debtor citizen is held accountable for fictitious bankruptcy or the provision of untruthful information to the arbitration court, this does not exempt him from liability for compensation for debt.
The Committee of the State Duma on Property has introduced some amendments to the bill. So, it is proposed to increase the amount of debt, when the citizen can go bankrupt, from 50 to 100 thousand rubles. The committee notes that the Law “On Insolvency (Bankruptcy)” has universal norms that establish a sign of bankruptcy in the amount of at least 100 thousand rubles. The committee also proposed to expand the instruments for identifying the personality of the debtor. It was proposed to use only the name and surname for these purposes, but every Russian can easily change them, so it is worth paying attention to additional signs, for example, an individual tax number. In addition, the State Duma deputies are invited to consider the norm on restriction of the debtor’s departure abroad.
The Committee on Property also proposes to exclude from the property of the debtor to be implemented, his dwelling, if it is the only one for him and his family, as well as land plots that are not in a mortgage and not used in entrepreneurship. At the same time, it is proposed to consider the issue of the possibility of selling only housing if its area is much larger than the accounting norm established by the Housing Code of Russia.
It is expected that in the first reading the bill “On Amending the Federal Law“ On Insolvency (Bankruptcy) ”and individual legislative acts of the Russian Federation regarding the regulation of rehabilitation procedures applied to a debtor citizen” will be considered on November 13 of this year.