Bankruptcy proceedings in the Russian Federation are quite complex and multi-stage. One of the main roles in this process is played by the arbitration manager, participating in
anti-crisis management under the supervision of the arbitration court. A number of requirements are imposed on him, such as having a higher education, passing a special exam, seniority in certain positions, lack of criminal record for intentional crimes, etc.
The Arbitration Manager Organization is a self-regulatory, non-profit membership organization. She acts as a guarantor of their activities and provides liability for errors and violations during the process. Each member is required to deposit a certain amount into the account and insure his liability. If the conditions of membership are not respected, a citizen of the Russian Federation cannot be considered an arbitration manager and will not be allowed by the court to fulfill his duties.
The arbitration manager has many names. They change along with the circle of responsibilities at different stages of bankruptcy. So, for example, during the observation it is called temporary, in the recovery procedure - administrative, during the external stage - it is the external manager of the enterprise, at the final, competitive stage - competitive.
As mentioned earlier, the obligations of the arbitration manager are numerous and vary depending on the stage of the bankruptcy procedure.
During the observation period, he requests accounting and other production documentation, ensures a comprehensive audit. Based on the data received, a report is drawn up which indicates the value of the bankruptcy estate, opens a register of legal applicants for bankruptcy property and holds their first meeting.
The recovery process is characterized by an attempt by the bankruptcy commissioner to restore the solvency of a bankrupt enterprise. Within the time specified in the law, he must submit to the court a plan for financial recovery and a schedule drawn up by him, which clearly outlines the terms within which the debt must be paid to creditors.
During
external management, the arbitration manager is required to conduct a full inventory and personally develop a plan of measures. An important aspect is the reorganization: the staff and management links are being reduced, non-core departments are being abandoned and production volumes are being reduced. Remediation may even imply a reorientation of production to another product or service, or the search for a new market.
At the final, competitive stage, a final inventory and assessment of all bankrupt property is carried out, a search is made for material values and assets held by third parties, their return and subsequent inclusion in the bankruptcy estate.
If to characterize the obligations of the arbitration manager as a whole, they are aimed at protecting the legitimate interests of creditors, restoring the solvency of the enterprise and ensuring the safety of bankruptcy property.