Relatively recently, a law was passed, the provisions of which regulate public tenders for the sale of pledged real estate . The order of their organization is defined in the Federal Law No. 102, Art. 59. Let us further consider how public sale is carried out.
General information
Public bidding is organized at the location of the facilities. Previously existing norms provided for the obligation to publish in the official publication information that the event took place within 30 days. from the date of its completion. This notification indicated the date, place of the auction, as well as the price of the material assets that were sold. Currently, the indicated period has been reduced to 10 days.
Specificity
A public auction notice is published on the FSSP official website. In this case, the information should go to the territorial divisions of the service. If there are entities that are willing to participate in the auction, they must make a deposit. Usually its size is 5% of the value of material assets. If the public auction is declared invalid, these persons will receive the deposited funds in full. If at the end of the event the subject refuses to pay for the purchased items, the deposit will not be returned.
Contract
The subject who wins the auction signs an agreement. The contract is executed with the organizer of the auction. The document contains all information about the subject who bought the property, date, place of the event. Information from the contract will act as the basis for entering data into the Unified State Register.
Members
A limited number of entities may be admitted to public tenders for the sale of real estate. The event, as a rule, is attended mainly by persons with the right to use the facilities. Among them may be relatives, friends, acquaintances of the mortgagor. A mortgagee may also participate in the auction.
Clearance transaction
The person who has offered the highest price for objects is considered to have won the public auction . After recognition of the subject as such, an auction protocol is drawn up. The winning bidder signs it. After this, a contract of sale is drawn up. Within five days, he needs to pay the full amount for material assets. In this case, the previously paid security deposit is included in it. Funds are transferred to the account of the event organizer.
Auction recognition failed
The rules provide for several requirements that must be met to recognize the legitimacy of the event. The first concerns the number of those present. If not a single person has come to the event or there are less than 2 of them, the bidding will be declared invalid. A failed auction can also be considered if the winner has not paid the full amount for the acquired material assets. After the announcement of the auction as failed, the pledge holder may become the owner of the objects. However, for this it is necessary to conclude an appropriate agreement. It is signed with the mortgagor according to the rules provided for in the Civil Code. The document expresses the consent of the debtor to transfer items to the property of the creditor. In the event that this transaction did not take place for some reason, repeated public tenders are allowed to be organized no earlier than 1 month later. The total cost of the facilities should be reduced by 15%.
Nuance
Participants in a controversial relationship may enter into a settlement. In accordance with it, the creditor may terminate the collection if the debtor fully repays its obligations. In this case, the holding of public tenders may be canceled. If a settlement is concluded after the announcement of the date of the event, the debtor will have to pay all losses that were associated with his organization.
Seizure of wealth
In the framework of enforcement proceedings, one of the most common measures to ensure the implementation of a court decision is the seizure of property. He, acting as a procedural act emanating from the state authority, is required not only for the debtor himself, but also for third parties whose interests they are affected. The latter, in particular, may be deprived of the right to dispose of material values entered in the inventory. Moreover, restrictions may be imposed regardless of whether the objects are in the possession of the debtor or these third parties. Seizure of items for their subsequent sale is carried out five days after the seizure. Moreover, the time limit for this is established directly by the bailiff. An employee of the FSSP in the process of executing executive measures, subject to the relevant circumstances, may simultaneously withdraw all items or some of them from the time the inventory is drawn up.
The specifics of the implementation of objects
The seizure and sale of seized property subject to rapid deterioration is carried out immediately. The sale of items is carried out by a specialized government agency under the Government. Sale of seized property is carried out according to the rules similar to those provided for pledged items. The proceeds from the sale go to pay off debts to creditors and the state.
Recognition of an entity insolvent
Bankruptcy public tenders are traditionally organized at the stage of bankruptcy proceedings and external management. The implementation of material assets belonging to the debtor is in line with the achievement of the goal of recognizing the insolvency of the subject. The external manager organizes open public bidding for bankruptcy, provided that such an event does not lead to a halt to the work of the debtor. He has the right to realize the entire enterprise of the subject, sending the proceeds to repay obligations to creditors. In this case, the implementation of values is focused on restoring the solvency of the company. Bankruptcy proceedings have a slightly different purpose. After the sale of the property, the funds are sent to pay off debts to creditors, and then the entity is declared bankrupt.
Normative base
Federal Law No. 296 introduced many amendments to Law No. 127. In particular, they regulated the procedure for the sale of the values of the debtor at the auction in a slightly different way than was previously accepted. As before, the insolvency act prefers the auction, the winner of which is determined only by price. Competitive bidding was previously organized only in cases that were directly determined by Federal Law No. 127. Currently, their list has remained unchanged. However, the current version of the regulatory act establishes that tenders are organized if the acquirer does not have to comply with any conditions determined by decision of the creditors with respect to the property.
Open and closed events
The types of tenders allowed by the legislation differ primarily in the composition of the participants. So, any entities can be involved in public (open) tenders, and only specially invited ones can be involved in closed tenders. In the legislation, meanwhile, preference is given to the first category. Closed or open bidding may be depending on the form of price offers. In the second case, they are presented orally by the participants in the event. For this, a step-by-step auction form is used. In closed tenders, offers are transmitted in sealed envelopes to the organizer. This can be done on the day designated for their submission, or directly at auction. Moreover, the legislation provides for mixed forms of bidding. For example, they can be open by the composition of the subjects participating in them, and closed by the method of submitting proposals, or vice versa.