Moscow court declares former Russian deputy defenсe minister bankrupt

The Moscow Arbitration Court has declared former Russian Deputy Defenсe Minister Timur Ivanov bankrupt and opened proceedings to sell his assets.

The decision followed a claim by Promsvyazbank (PSB), which listed Ivanov’s debts at approximately 228 million rubles (around $2.9 million), including 175 million rubles ($2.23 million) in unpaid loans, Caliber.Az reports, citing RIA Novosti.

The court approved a special procedure for selling his assets without prior debt restructuring, a method typically applied to individuals with unresolved convictions for economic crimes. Ivanov had previously filed a request from detention to recognise his debts and immediately begin asset liquidation proceedings.

The loan was secured by Ivanov’s 300-square-meter apartment on Povarskaya Street in Moscow.

According to the Unified State Register of Real Estate, the property remains in his name and is pledged to PSB. Igor Minaev of the Moscow Self-Regulatory Organisation of Professional Arbitration Managers was appointed financial manager for the bankruptcy case.

Ivanov served as deputy defence minister from May 2016 until his dismissal in June 2024. On July 1, 2025, the Moscow City Court sentenced him to 13.5 years in prison for embezzlement during ferry procurement for the Kerch crossing and for diverting over 3.9 billion rubles ($49.7 million) from Interkommerts Bank.

He was also accused of accepting bribes totalling around 1.3 billion rubles ($16.6 million), money laundering, and illegal possession and modification of weapons.

By Jeyhun Aghazada