In the Irkutsk region, debtors will begin to have property registered to others seized

In the Irkutsk region, bailiffs are preparing to seize debtors property, even if it is formally registered to other people. This became possible after changes in federal law and should help fight attempts to hide expensive assets from collection. In the first half of 2009, bailiffs recovered about 1.5 billion rubles, which is significantly more than a year earlier, and the number of debtor cases continues to grow.

Bailiffs in the Irkutsk Region will soon begin seizing from debtors cars, apartments, and other property that is officially registered in other people’s names.
Bailiffs in the Irkutsk Region collected about 1.5 billion rubles from debtors over the first six months of 2009. This is 300 million rubles more than in the same period of 2008. Of the total amount collected, 700 million rubles were transferred to budgets of various levels. This was reported at a press conference by Viktor Shchapov, head of the Federal Bailiff Service Administration for the Irkutsk Region.
Over the first six months of this year, the Federal Bailiff Service Administration for the Irkutsk Region handled 580,000 debt cases, which is 21% more than in the same period last year. In debt recovery from credit institutions, the Irkutsk Region administration of the Federal Bailiff Service of Russia had 33,000 cases in process, which is 13,000 more than in the first half of last year.
Bailiffs in the Irkutsk Region will soon begin seizing from debtors cars, apartments, and other property that is officially registered in other people’s names. As Viktor Shchapov, head of the Federal Bailiff Service Administration for the Irkutsk Region and chief bailiff of the Irkutsk Region, said at the press conference, this is due to changes in federal legislation.
- If a person drives a car, vacations at health resorts, lives in a cottage, and at the same time is a debtor, we will look into it. We now have the right to seize property registered in other people’s names, - said Viktor Shchapov.
Bailiffs will prove that the debtor transferred expensive property into other people’s names in order not to repay debts on loans or other obligations, but continues to use it. However, according to the chief bailiff, the work will be difficult.