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22 November, Wednesday

Ufa   °

More than one thousand people officially declared themselves bankrupt in Bashkortostan

Economy/Business

UFA, 25 October 2016. /Bashinform News Agency, Sergey Zakharov/.

According to the Rosreestr Office (Federal Service for State Registration, Cadastre and Cartography) in Bashkortostan, with the entry into force of the federal law "On Bankruptcy of Individuals", 1109 applications were filed for bankruptcy to the Arbitration Court of the Republic, 831 of them — only in the current year.

With regard to 569 individuals bankrupt procedure of their property sale was appointed, and only in 44 cases, a decision on debt restructuring was made. This indicates that the majority of citizens were unable to pay the debts except by selling their property, the Rosreestr reports.

84% of applications for bankruptcy were submitted to the arbitration by citizens themselves; 3.6% — were filed by the banks; 1.1% by the tax service, 10.7% — by other applicants.

According to the Uniform Federal Registry on Bankrupts, total in Russia more than 33 thousand applications to initiate proceedings against individuals were submitted. About 14 thousand cases reached the proceedings phase, of which 4.5 thousand were accounted for debt restructuring.

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