Valuation of financial assets
Valuation of claims, receivables, bonds and investment fund units
We value claims against legal entities and individuals, receivables, loans, bonds, promissory notes and other debt instruments, investment fund units and other financial assets.
The value of a claim is determined not by the face value of the debt but by the probability, timing and completeness of its repayment, so the valuation is based on an analysis of the debtor and the collateral.
Finappraisal values financial assets for transactions, bankruptcy and reporting
Assignment of claims
Supporting the price under an assignment agreement when selling receivables, distressed loans and debt portfolios (Article 382 of the Civil Code of the Russian Federation)
Bankruptcy
Valuation of the debtor's receivables and claims to determine the starting price at auction (Articles 130 and 140 of Federal Law No. 127-FZ "On Insolvency (Bankruptcy)")
Debt restructuring
Valuation of a claim before and after a change in terms, novation, exchange or set-off of obligations
Financial reporting
Fair value of loans, bonds and claims without quoted prices in an active market under IFRS 9 and IFRS 13
Capital contributions and intra-group transactions
Valuation of claims transferred as an in-kind contribution or between group companies
Investment fund units
Valuation of units of closed-end funds without market quotations based on the fund's net asset value and the terms of unit redemption
Value is determined using the income approach: expected payments are discounted at a rate reflecting the debtor's credit risk and the term and currency of the debt, taking into account the probability of repayment and the value of the collateral. For bonds traded on the market, quoted prices and yields of comparable issues are used. The terms of the obligation, the debtor's financial condition, court decisions and the progress of enforcement or insolvency proceedings are analysed.
The valuation report is prepared under Federal Law No. 135-FZ "On Valuation Activities in the Russian Federation" and the Federal Valuation Standards and sets out a reasoned conclusion of market value with supporting analysis for decision-making.