Article 149. Satisfaction of Creditors' Claims Secured By Pledge of Debtor's Property

Satisfaction of the claims of creditors secured by the debtor's property shall be carried out at the expense of funds received after the sale of this property. The rest of these funds shall be directed to satisfy the claims of creditors in accordance with Article 150 of this Law.

If the amount received from the sale of the pledged property turned out to be insufficient to fully satisfy the claims of creditors secured by the property, then the remaining part of the claims must be satisfied in accordance with the order established by Article 150 of this Law.

When bidding in the form of an electronic online auction and (or) repeated bidding in the form of an electronic online auction for the sale of property provided as a security for the fulfillment of the debtor's obligations is recognized as failed, this property shall be offered to creditors whose claims are secured by this property for taking it off their requirements in the prescribed manner. If the market value of the accepted property of the debtor, provided as security for the fulfillment of obligations, is greater than the claims of creditors secured by this property, then the difference that has arisen in this case shall be compensated in monetary funds by the creditors accepting the said property against their claims.

If all the debtor's property is accepted as security for the fulfillment of obligations and the amount received from the sale of this property turned out to be less than or equal to the amount of creditors' claims secured by all the debtor's property, then repayment of the claims of these creditors shall be made after the repayment of expenses and satisfaction of the requirements provided for by part the first article 150 of this Law, and requirements for payment documents providing for the issuance of funds for the payment of wages.