How a creditor learns of a bankruptcy, and why it is usually too late
Take a story assembled from many similar cases. Andrei Kornilov’s company installs refrigeration equipment. In spring 2025 it supplied a bakery chain with chillers and display cabinets for three new outlets, and the customer promised to pay the balance of RUB 8.4 million “after the season”. Andrei did not go to court: the client was a long-standing one, and he had dined more than once with the chain’s owner.
In March 2026 a bank filed a bankruptcy petition against the chain, and the court introduced supervision. Do not count on a letter from the trustee: the deadline runs from publication in any case. Notices are posted on Fedresurs and in the newspaper Kommersant, and court rulings appear in the kad.arbitr.ru case file index. Andrei found out forty days later, from his accountant, who opened the counterparty’s record before a reconciliation. Frankly, he was lucky: many people learn of a partner’s bankruptcy when the register has already closed.
Thirty days, two months and the queue “below the register”
During supervision a claim must be filed within 30 calendar days of the publication announcing the procedure, otherwise the creditor will not make it to the first meeting. For companies the clock is usually counted from Kommersant, but it is safer to go by the earlier of the two dates. Andrei was ten days late. His claim did not lapse: the court will consider it in the next procedure. But the first meeting, which decides the debtor’s fate and chooses the trustee, took place without him.
After that, the rules get stricter. Once the debtor is declared bankrupt, the register closes two months after publication of the opening of bankruptcy (liquidation) proceedings. A late creditor ends up “below the register” and receives only what is left after all registered creditors, which is usually little. Since 2024 the court may restore the deadline if the reason is valid. There is a catch, though: the register is public, and the argument that “we did not see the publication” sounds weak.
Incidentally, a bankruptcy reform law was signed in summer 2026. Most of it takes effect on 27 July 2027, and as a general rule the previous rules will continue to apply to procedures already opened.
Documents and state duty in 2026
The claim is filed electronically with the court handling the case, and copies are sent to the debtor and the trustee. Andrei has no court judgment for recovery, so the debt is proved by the primary documents: the contract, universal transfer documents (UPD), commissioning certificates, a 2025 reconciliation statement, and correspondence in which the chain’s director asks for a deferral. If no one objects, the court reviews the claim without a hearing.
Since 8 September 2024, claims in a bankruptcy case attract half the state duty that would be charged on an equivalent lawsuit. In January 2026 the Supreme Court confirmed that if the debt has not been established by a judgment that has entered into force, an unpaid application will be left without action and then returned. On RUB 8.4 million, the duty comes to RUB 138,500.
Had Andrei held a judgment for debt recovery, he would not have had to pay duty for inclusion, and there would have been almost nothing to dispute about the debt itself.
Who gets paid first
First, current payments are settled from the estate: the costs of the procedure and debts that arose after the petition was accepted. Then comes the register:
- the first priority is paid for harm to life and health;
- the second settles with employees for wages and severance pay;
- the third includes everyone else, among them suppliers like Andrei.
Within the third priority, penalties are paid after the principal debt and interest. A secured creditor receives 70% of the proceeds from the pledged asset, and 80% for a bank loan. In this chain’s case the bank held a pledge over the workshop equipment, so for Andrei, an unsecured third-priority creditor, every rouble that returns to the estate matters.
The “friendly” creditor and votes at the meeting
The majority at the first meeting belonged to the trading house “Muchnoy Dvor”, with a claim of RUB 40 million under loans. It is owned by the chain owner’s cousin, and the loans ran for six years, interest-free and with no demands for repayment. Why would such a creditor need the register? To vote. Votes are counted in proportion to the amount of claims in the register, excluding penalties, and the meeting chooses the trustee and decides whether to ask the court to open bankruptcy (liquidation) proceedings.
The Supreme Court described the heightened standard of proof for affiliated persons as early as its review of 29 January 2020, and in December 2025 it devoted a separate ruling, Plenum Resolution No. 41, to such disputes. If objections raise reasonable doubts, an affiliated creditor must disclose in full where the money came from and why it was lent. If it does not, it is acting in bad faith and inclusion will be refused. The Plenum names multi-year interest-free loans as a possible sign of control.
The party objecting is expected to produce statements showing that the money went round in a circle, or evidence that the lender did not have such funds. A claim that has already been included can be challenged for exclusion or subordination within three months of the day the grounds became known.
Challenging transactions: what else can be returned to the estate
Once Andrei’s claim was included, he studied the trustee’s report. Four months before the bank’s petition, the chain had sold ovens and two vans to a new company with a similar name for a third of their market price, and carried on using them. Three weeks before the petition, it had repaid a rent debt to a firm owned by the owner’s wife.
Under Article 61.2 of the Insolvency Law, a transaction made within a year before the petition was accepted can be challenged if the debtor received substantially less than it gave, and intent does not matter. For transactions within three years, a purpose of harming creditors is required, but it is presumed, for example, where the transaction is with an interested party during a period of insolvency. The payment to the wife’s firm falls under Article 61.3 on preferences: within a month before the petition the preference alone is enough, while within six months the recipient must have known of the insolvency, which is presumed for interested parties.
There is no need to wait for the trustee. A creditor holding more than 10% of the register, excluding the counterparty to the transaction and its affiliates, can file the application itself. Andrei holds RUB 8.4 million out of RUB 63.4 million, about 13%. We describe how we handle such disputes on the page about challenging transactions in bankruptcy.
Subsidiary liability: when the owner pays
The ovens and vans were returned, and the court found the claim of “Muchnoy Dvor” to be compensatory financing and sent it to the back of the queue. Even so, the money covered only a small part of the register.
Where does the rest come from? From the owner. A controlling person is liable for the debts if, because of them, creditors cannot be paid in full, and the law largely presumes fault: for example, where transactions made on their instructions caused substantial harm to creditors, or the accounting records have disappeared to the point where the procedure cannot properly be carried out. The creditor can file the application itself, and if the case was terminated for lack of funds, even outside the case. The limitation period is three years from the moment the grounds became known, but no later than three years after the debtor was declared bankrupt.
After the ruling, creditors have 10 business days from publication on the Unified Federal Register of Bankruptcy Information (EFRSB) to choose what to do with the claim: collect it within the procedure, sell it at auction, or take a part of it equal to their own debt. A creditor who stays silent is treated as having chosen the sale. Andrei took the assignment and obtained a writ of execution against the owner personally. For more, see our analysis on subsidiary liability.
If an individual goes bankrupt
A year later the chain’s owner filed for personal bankruptcy. It was a miscalculation: subsidiary liability and debts from challenged transactions are not written off at the end of the procedure, and if the court finds that the debtor concealed assets or gave false information, the rest will not be written off either.
Individuals have their own deadlines. In debt restructuring, a claim is filed within two months of publication of the introduction of the procedure; in the sale of assets, the register closes two months after publication that the individual has been declared bankrupt. The court may restore a deadline missed for a valid reason. Almost all notices concerning individuals appear only on EFRSB.
A secured creditor of an individual receives 80% of the proceeds, with 10% going to the first and second priorities. Since 3 April 2026, when a sole mortgaged home is sold, a further 10% goes to a special account of the debtor, up to the amount of the money the debtor has invested. In out-of-court bankruptcy via an MFC, for debts from RUB 25 thousand to RUB 1 million, there is nothing to join: after six months the debts are written off, unless a creditor finds assets or hidden income and secures bankruptcy through the court.
When you cannot do without a lawyer
If the debt is confirmed by a court judgment and no one will contest it, you can file the application for inclusion yourself. It is harder when a “friendly” creditor is entering the register, assets have already been transferred and the deadlines are running out.
In such cases we assess how much can realistically be recovered, prepare the claim and the objections, look for transactions to challenge, and support the creditor through to payment. More on the pages about inclusion in the register of creditors and bankruptcy of a legal entity. We record the plan and the cost of the work in writing before we start.
Frequently asked questions
How long does a creditor have to join the register of creditors’ claims?+
During supervision, 30 calendar days from publication if you need a vote at the first meeting. In bankruptcy (liquidation) proceedings, the register closes two months after publication of the bankruptcy. Individuals also have two months.
Is state duty payable for inclusion in the register in 2026?+
Yes, if the debt is not confirmed by a court judgment that has entered into force: half the duty for an equivalent lawsuit. If there is a judgment, no duty is payable.
What happens if I miss the deadline for filing a claim?+
The claim does not disappear, but the creditor loses their vote at the first meeting, and if they miss the closing of the register they are paid only after all registered creditors.
Need an assessment of your situation?+
Leave a request: a bankruptcy lawyer will review the debt documents and the case file and tell you what you can expect and which deadlines are still open.