Section 27. Expenses Related to Insolvency Case

Expenses related to an insolvency case shall be reimbursed at the expense of the debtor's property, unless otherwise provided by this Law.

In order to ensure the fulfillment of their rights and obligations, judicial managers may conduct payment to persons involved on a contractual basis, payment of court expenses, state registration of the debtor's rights to real estate, inventory, assessment of property, if necessary, expenses for using the services of an auditor, auction expenses, expenses for transfer, storage of documents, as well as other costs associated with the conduct of an insolvency case.

The amount of payment for the services of persons involved by a judicial manager in an insolvency case shall be established as a percentage of the balance sheet value of the debtor's assets (with the exception of expenses provided for in Article 26 of this Law) calculated in relation to the basis calculating amount (hereinafter referred to as the BCA), if the balance sheet value cost is:

up to a thousand BCA — in the amount of not more than twelve percent of the balance sheet value of the debtor's assets;

from one thousand to five thousand BCA — in the amount of not more than ten percent of the balance sheet value of the debtor's assets;

from five thousand to ten thousand BCA — in the amount of not more than eight percent of the balance sheet value of the debtor's assets;

more than ten thousand BCA — in the amount of not more than five percent of the balance sheet value of the debtor's assets. In this respect, expenses should not exceed two thousand two hundred times the size of the BCA.

For the purposes of this Article, the balance sheet value of the debtor's assets shall be defined on the basis of the financial statements as of the last reporting date prior to the initiation of insolvency proceedings.

In cases where it is impossible to define the actual balance sheet value of the debtor's assets, it shall be defined on the basis of the appraised value established by the appraisal organization. These rules shall not apply to judicial rehabilitation and external management procedures.

Information about the costs associated with the debtor's insolvency case shall be reflected respectively in the plan of judicial rehabilitation, external management and liquidation, as well as debt restructuring and sale of property.

Expenses associated with the sale of the pledged property shall be borne by the secured creditor, unless otherwise determined at a meeting of creditors or a meeting of a committee of creditors.