Bankruptcy of legal entities. Stages, application and consequences of bankruptcy of a legal entity. faces

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

Issues relating to the insolvency of enterprises and organizations are very relevant, given the current conditions. The instability of the economy, the financial crisis, the overstatement of taxes and other negative circumstances create a difficult atmosphere in which it becomes difficult for owners of small and medium-sized businesses not only to develop, but also to stay afloat. Bankruptcy of a legal persons and the main stages of this procedure - the topic of this article.

Concept

A legal entity is declared insolvent solely by the decision of the arbitration court. And this decision is preceded by a long and laborious process. Bankruptcy of a legal persons - this is a set of procedures, after which the inability of organizations to satisfy the requirements of creditors and fulfill obligations for basic payments is confirmed. To apply forthe relevant authorities, the debtor must meet certain requirements. So, for example, to implement the procedure, the organization's debt must not be repaid within the last three months.

The bankruptcy procedure can be initiated independently by the organization itself. And in some cases, according to Article 9 of the Federal Law No. 127, it is the official representing the interests of the enterprise that should initiate this process.

Background

What factors lead to bankruptcy of a legal entity. faces becomes the only possible way out of a difficult situation? Today, the number of bankrupt enterprises and organizations is constantly growing. Along with it, non-payments to the budget and debts on obligations to other organizations are increasing. In such an environment, business offenses have become quite frequent. Often, bankruptcy proceedings persons is carried out at the initiative of the tax authorities. This situation develops because debtor enterprises do not declare their insolvency, and creditors do not have the opportunity to obtain information about the solvency of these organizations.

Signs

Bankruptcy procedure jur. persons controlled by federal law. In Art. 65 of the Civil Code of the Russian Federation it is determined that an organization can be declared insolvent only if it is not a state-owned enterprise, institution, religious association or political party. Signs of bankruptcy persons is the inability of the company to carry outobligatory payments and meet the requirements of creditors.

If the debtor intends to go to court on his own, he must meet certain criteria. The main one is a certain amount of debt. Only without the implementation of mandatory payments within a specified period of time, procedures begin, the result of which is the bankruptcy of a legal entity. persons. The amount of debt to creditors must be at least 100 thousand rubles. Undoubtedly, this obligation is confirmed in the arbitration court.

How does the procedure begin?

Bankruptcy law jur. persons - a document with which all participants in the process, without exception, must be familiarized. The regulatory framework is constantly updated, and therefore it is necessary to use the latest edition, which includes all changes and additions.

Insolvency (bankruptcy) jur. faces is the result of a complex, lengthy procedure that has many nuances. It is quite difficult for a person who does not have a legal education and experience in this area to go through all the stages and collect a complete package of documents on their own. Most owners of organizations in such cases turn to specialists, whose services, however, are quite expensive.

To have an idea of what the procedure for bankruptcy of a legal entity looks like. face, its main stages should be highlighted.

Statement

How to file for bankruptcy faces? The first step in this process is the submission of an application. It can be sued by both the debtor and the creditor. Consider a situation in which a business owner, feeling the insolvency of his company, himself acts as the initiator of this process.

Voluntary bankruptcy of jur. persons is a procedure in which an individual representing the interests of the organization submits an application to the arbitration court on his own. This document must be signed by the founder, who has the right to do so in accordance with the charter. In most cases, this is the owner of the organization.

In order to avoid time delays, the preparation of the application should be entrusted to a specialist. In this case, the document will be drawn up correctly, in accordance with all norms. The procedure will not take much time, which is of interest not only to the owner of the enterprise, but also to his creditors.

Application for bankruptcy jur. persons must have the established form and have the following data:

• name of arbitration court;
• the amount of payments claimed by creditors in accordance with the financial obligations of the debtor;
• total debt:
• information about the reason for the impossibility to fulfill all requirements;
• information about the documents presented for writing off the debt from all accounts of the legal entity;
• data from other credit institutions (if available);
• indicating the remuneration of the arbitration manager.

As for the arbitration manager, his remuneration affects the interests of all participants in the process. This amount is paid from the property of the debtor, according to the generalrule. And therefore, the greater the remuneration, the less funds are spent on satisfying creditor claims. And also for payments to all members of the organization.

Observation

The first stage of bankruptcy lasts up to seven months. During this time, a financial assessment of the “problem” entity is carried out, the first meeting of creditors is held and a register of an insolvent organization is compiled.

Insolvency (bankruptcy) jur. persons are recognized on the basis of information provided by specialists after observing the work of the enterprise at different stages of the procedure. At the initial stage, the organization does not stop its activities. Employees continue to perform their duties. But there are certain restrictions in the work of the governing bodies. It is forbidden to perform the following actions:

• reorganize the enterprise;
• create a legal entity;
• establish branches and representative offices.

The authorized person who controls the activities of the debtor at this stage is called an interim manager. This specialist draws up a report on the financial situation in the enterprise and submits it to the arbitration court.

It should be said that the bankruptcy procedure is often used as a way to escape from their obligations. This action is illegal. In addition, the Criminal and Administrative Codes provide for liability for intentional bankruptcy.

An important step in the observation procedure is the first meetingcreditors. It decides the further course of the procedure and considers the possibility of concluding a settlement agreement.

Bankruptcy jur. persons is a long process, which, in addition to supervision, consists of external management, financial recovery and bankruptcy proceedings. The first two procedures are an alternative to the third. They are focused on restoring the solvency of the organization, while bankruptcy proceedings lead exclusively to the liquidation of the enterprise.

Financial Recovery

During this procedure, the court approves the debt repayment plan. It is designed for a period of up to two years. But if, after the expiration of the established period, the situation does not change and the claims are still not satisfied, the meeting of creditors draws up an application to the arbitration court.

Information about bankruptcy jur. persons are examined and verified repeatedly. After going through financial recovery, such an analysis is crucial, since the next stage in the process can be both external management and bankruptcy proceedings.

External management

The activity of the organization at this stage differs significantly from the work of the enterprise at the previous stage of the bankruptcy procedure. The general director and other management bodies are removed from business, and their duties are performed by an external manager. A positive moment during this period is that a moratorium is established on satisfying the claims of all creditors. Debt that arose before the arrivalexternal manager is not paid, and this enables the company to restore its financial well-being.

All stages of bankruptcy jur. faces have their own characteristics and nuances. Each of them is aimed at achieving some goals. Within the framework of external management, a plan is drawn up that forms the main measures to eliminate the insolvency. This can be achieved through various actions.

Restore the insolvency of the company through the following activities:

• closure of unprofitable production facilities;
• sale of the debtor's property;
• reshaping the activities of the enterprise.

The term of external management is eighteen months. In some cases, by decision of the court, this period may last longer.

Bankruptcy proceedings

This stage is the final one. In the event that the above procedures did not produce results, and the debt to creditors could not be repaid, bankruptcy proceedings are introduced. From that moment on, the company is already considered bankrupt.

The purpose of this procedure is the liquidation of the organization and the subsequent sale of its property. The bankruptcy trustee manages the process at this stage. The duration of this procedure is six months. The main function of the bankruptcy trustee is a detailed inventory and evaluation of all property of a bankrupt organization.

The specialist also makes a report. It displays the bankruptcy estate, that is, the debtor's property in full. Based on this report andafter satisfaction of the requirements (as far as possible, based on the financial situation of the bankrupt enterprise), the court makes a decision to terminate bankruptcy proceedings - the last stage of bankruptcy. Then the bankruptcy trustee sends the information received to state bodies, where the fact of the liquidation of the legal entity is recorded. The entry is made in the unified state register.

Bankruptcy law jur. persons is designed to improve the financial position of the enterprise. Its purpose is not to liquidate the organization. Bankruptcy is usually a last resort. Debt collection through this procedure does not always lead to results that could satisfy creditors.

The legislation has provided several scenarios for the development of the bankruptcy procedure. At best, it can be "financial rehabilitation." At worst, the founder's criminal liability. But still, in many cases, this process contributes to the improvement of the organization. After going through a long and difficult anti-crisis procedure, the debtor gets the opportunity to pay off his creditors and fulfill all obligations. But if solvency cannot be restored, the law is on the side of creditors, whose claims will be satisfied by liquidating the organization. If not completely, then at least partially. The procedure, of course, is able to alleviate the fate of both the owner and the director of the company. The law provides the owners of an organization whose activities are in a difficult situation with the opportunity to get rid oflifelong payment of debts, going through bankruptcy jur. persons.

Consequences

After completion of all procedures, organizational documents are transferred to the archive. The debtor ceases to exist, and with it, his debts also cease to exist. Often, the saving grace for an enterprise is precisely the bankruptcy of a legal entity. people with loans. The consequences of such a procedure, however, do not always have a positive impact on the future fate of the CEO. Although in most cases, after going through all the procedures, he loses nothing and even the court cannot force him to make additional investments, there are still exceptions to this rule.

Law enforcement may establish a causal relationship between the insolvency of the organization and the actions of the founder, which will indicate fictitious or deliberate bankruptcy. In this case, the losses of the victims, namely the creditors, will have to be compensated by the culprit at the expense of their personal property. This mechanism can be implemented only by virtue of a court verdict. The General Director is liable with his own property only when a fact is established that indicates the commission of a crime of an economic nature.

Criminal liability

As already mentioned, fictitious or deliberate bankruptcy can lead to very unpleasant consequences. Law enforcement agencies may initiate a criminal case on the fact of committing such crimes on the basis of a statement from a creditor, observer, bankruptcy trustee, external administrator or otherperson concerned.

Restriction of rights

The fact that the organization was declared insolvent cannot in any way affect its founders. They have the right to engage in entrepreneurial activities, create new enterprises and firms, and implement various commercial projects.

But strict action is being taken against the CEO or accountant. If serious violations are discovered during the liquidation of a company, lawsuits can be initiated. The result may be the deprivation of the right to conduct a particular activity.