This article is a part of the discussion about the capacity for bankruptcy of the legal persons of the churches or other religious organizations. It deals with such issues as the bankruptcy of a religious association as a whole, regulations allowing to determine the status of a legal entity as an entrepreneur, and limitations in its operation in this area, determining the composition of the bankruptcy estate of a religious organization, including the institution of waqf. The application of the bankruptcy law regulations to the religious organizations or their legal persons may require the cooperation of specialists in the field of bankruptcy law, constitutional and religious law, and even specialists in the internal law of a given religious association.