Article 159. Property of Debtor Remaining After Repayment of Creditors' Claims

The property remaining after satisfaction of the claims of the debtor's creditors shall be transferred to the founders (participants) of the debtor or the owner of the debtor's property.

The debtor's property offered for sale, but not sold in the course of liquidation proceedings, shall be offered to creditors by liquidation manager to pay off accounts payable. The creditor, within ten days from the date of receipt of the offer on unsold property, shall notify in writing the liquidation manager of the consent or refusal to accept the said property or to submit this issue, in the cases established by law, for consideration by the supervisory board or the general meeting of founders (participants) of the creditor. The creditor's failure to submit a response notice in writing within the prescribed period shall be equivalent to a refusal to accept the property.

The liquidation manager shall notify the local executive authorities in writing on the property of the debtor, which was offered for sale, but was not sold in the course of liquidation proceedings, if the creditors refuse to accept the said property to pay off their claims.

Local executive authorities shall, within fifteen days from the receipt of the notification, take the property onto their balance sheet and bear all expenses related to its maintenance.

The liquidation manager shall have the right to apply to the court with an application to compel the relevant body to accept the said property in case of refusal or evasion from accepting the property. The court, on the basis of documents on the transfer of property, shall issue a ruling on the completion of liquidation proceedings.

Property of an enterprise with a state share in its charter fund (charter capital) that has been offered for sale but remains unsold during liquidation proceedings shall pass into state ownership if creditors refuse, within the prescribed period of liquidation proceedings of the debtor legal entity, to accept such property in satisfaction of their claims. The liquidation administrator shall transfer the property to the balance sheet of the local executive authorities. On the basis of documents confirming the transfer of the property, the court shall issue a ruling on the completion of the liquidation proceedings.