Trustee in bankruptcy
A trustee in bankruptcy is an entity, often an individual, in charge of administering a bankruptcy estate.
To become registered as a trustee in bankruptcy (Russian: арбитражный управляющий; transliteration: arbitrazhnyy upravlyayushchiy), one must:[1]
Person who has finished up all above-mentioned requirements is entered in the consolidated state registry of trustees in bankruptcy (Russian: сводный государственный реестр арбитражных управляющих) which is maintained by Federal Service for State Registration, Cadastre and Cartography.[4]
Russian trustee in bankruptcy can be the member of only 1 self-regulatory organizations of trustees in bankruptcy. He can carry out other activities compatible with the position of trustee in bankruptcy, for example, be an individual entrepreneur or advocate (but it must be remembered that the status of individual entrepreneur and the status of advocate are incompatible with each other).
The term "арбитражный управляющий" (transliteration: arbitrazhnyy upravlyayushchiy) means job title. After entrance in particular insolvency (bankruptcy) case, trustee in bankruptcy is called using special term depending on particular insolvency (bankruptcy) proceeding in this case:
The Federal Law of 26 October 2002, No.127-FZ «About insolvency (bankruptcy)» provides that the function of settlement officer in liquidation procedure in insolvency (bankruptcy) cases of banks, insurance companies, pension funds and other financial institutions is carrying out by Deposit Insurance Agency of Russia (with some exceptions).[5]