Bankruptcy is represented by the recognition of a particular organization or individual as insolvent. The procedure is carried out exclusively through the court, and the initiators themselves can become defaulters or creditors. Each company in the process of doing business is subject to certain financial risks, so different companies become bankrupt. Often, residents of one house face bankruptcy of a management company. This procedure is implemented in the correct sequence of actions. For residents of a building, such a process has several specific consequences.
Reasons for insolvency
The bankruptcy procedure of a management company can be initiated for various reasons. They are common to many organizations. The main reasons for the bankruptcy of housing and utilities management companies include:
- there are large debts to other companies or residents of the house that cannot be repaid due to the poor financial condition of the enterprise;
- the obligations are not fulfilled by the organization within the established term, and the delay is more than three months;
- due to its poor financial situation, the company cannot cope with the main responsibilities, which include home repair, its maintenance and the provision of various resources;
- the lack of meters in different apartments, where a lot of officially unregistered people live, so the regulatory fee does not cover the actual consumption of different resources;
- conducting numerous lawsuits with residents who do not agree to pay a lot of money for common-house needs or other items of expenditure;
- maintenance of old houses in need of regular repairs, which significantly increases the costs of the organization;
- lack of payments from residents, from which even through the court it is not possible to recover funds, since they lack official income and property that can be sold at auction;
- selection of ineffective investment policies.
Consumers are residents of different houses that are served by a particular company. Asset management companies are only intermediaries between residents and resource enterprises. Often, the cause of bankruptcy of the management company is the overall poor state of the housing sector in the country. To calculate the payment, incorrect standards are applied, which leads to the inability to obtain a sufficient amount of funds for the normal functioning of the institution.
How is the procedure going?
In Rybinsk, the bankruptcy of the management company takes place during the implementation of standard stages, so the procedure is the same in each region. In the presence of numerous debts, lack of payments from residents and the wrong policy of the company itself, organizations have to face a deplorable financial situation. This leads to material problems, so the Criminal Code ceases to cope with its responsibilities. Under such conditions, there are signs of insolvency, so the bankruptcy procedure of the management company begins:
- An application is submitted to the arbitration court declaring the organization insolvent, and the procedure can be performed directly by the company, residents of the house or other creditors.
- Various stages of bankruptcy are being implemented, initially aimed at improving the financial condition, but if there is no way to restore solvency, then bankruptcy proceedings are carried out.
- The procedure is carried out by the appointed arbitration manager, forming the register of creditors and implementing other actions to satisfy as many of the requirements as possible.
- After the repayment of debts, the company is declared insolvent, after which there are certain negative consequences for both the residents of the house and the management of the management company.
In Moscow, bankruptcy of management companies is considered a fairly common procedure, as these organizations are forced to regularly deal with defaulters and numerous residents who are not officially registered on the territory of one apartment.
Stage of observation
It is the first stage of bankruptcy of a management company. Its main features:
- initially appointed arbitration manager, consisting of a suitable SRO, which deals with all stages of the process;
- information is collected on the work of the Criminal Code, which allows to identify all the problems and opportunities for the restoration of solvency;
- analyzes all the debtors of the company, represented by residents who do not want to pay utility bills for various reasons;
- measures are being taken to recover debts from non-payers, for which lawsuits are being filed, and the bailiffs are working effectively.
Based on the work done, the manager can decide whether reorganization will be effective in relation to this organization. If there are no signs that the company will be able to cope with its existing debts on its own, then a decision is made on the use of bankruptcy proceedings, therefore the last stage of bankruptcy of the LLC management company begins immediately.
Reorganization
It is carried out exclusively on the condition that there really is an opportunity to restore the solvency of the organization. At this stage, many actions can be used by the manager. These include:
- filing lawsuits against defaulters and other debtors who disagree in a peaceful way to return debts to the company;
- debt restructuring to other organizations, but a decision must be made at a meeting of creditors;
- signing a settlement agreement with other companies;
- getting rid of problem houses and concluding contracts with new multi-apartment buildings.
Often, due to reorganization, it is possible to prevent the bankruptcy of housing and utilities management companies. In this case, the organization continues to operate, gradually repaying existing debts based on the schedules.
Bankruptcy proceedings
It is the last stage of bankruptcy of the management company. Reviews about this stage in most cases are negative, since the property of the organization is used, which is used by residents of different houses. The features of this procedure include:
- its main goal is to pay off as many of the company's debts as possible;
- consists in the sale of all assets owned by the organization;
- reveals all property on the balance sheet of the enterprise;
- existing debtors are assessed, from which funds are recovered by lawful means;
- tenders are held at which identified values belonging to the Criminal Code are sold;
- proceeds from the procedure are used to pay off debts, for which the correct order is used, since court costs are initially covered, remuneration is assigned to the manager, and only after that funds are sent to creditors in the register.
After the maximum repayment of register obligations, the final liquidation of the company is carried out. If any debts remain, they are written off. Since an LLC is usually formed for opening a management company, the founders of such an organization are not liable for the debts of the enterprise with personal property.
The procedure for closing a company through bankruptcy is considered quite common, and the organization’s debts cannot be transferred on the basis of succession.
How to find out about the bankruptcy of a management company?
All residents must be aware of the financial condition of their UK. Therefore, if the management company is on the verge of bankruptcy, then all residents of a particular house should be notified about this.
If tenants are creditors, they receive a notice from the court, on the basis of which they can enter their debts in the register of creditors. If citizens are not creditors, then they can receive information on the official website of their Criminal Code, since information about the start of bankruptcy proceedings should be published by companies in open sources.
The consequences of bankruptcy
People should know what threatens the bankruptcy of the housing and communal services management company with tenants. This procedure is considered not too pleasant for citizens, since often the residents of the house face certain costs and dangers.
What threatens the residents of the bankruptcy of the housing and utilities management company? The house remains without the Criminal Code, so citizens have to perform certain actions to solve the problem. These include:
- through the court, residents of the building may demand a recalculation if the Criminal Code has not fully fulfilled its obligations under the existing contract;
- a meeting of residents is held, at which a decision is made on the choice of a new Criminal Code;
- since the old company could have committed unlawful actions in relation to the house, it is advisable to apply to the prosecutor's office so that the organization fulfills its obligations.
All these actions should be carried out by the chairman of the house, who is elected at the general meeting. If tenants do not perform any actions, then they will not have a criminal code, which will lead to additional problems. In this case, the company is appointed by the administration.
Process timeline
The procedure for declaring a bankruptcy company bankrupt is considered quite operational. Usually the observation is carried out for a maximum of two months.
If different measures are applied within the framework of rehabilitation, the process can drag on for up to 7 months or even extend for up to two years.
Usually, in the absence of the possibility of restoring solvency, bankruptcy proceedings begin 2 months after the submission of the relevant application to the court.
Further actions
Residents of the house must perform some steps even after the bankruptcy of the housing and utilities management company is officially recognized in court. What threatens such a situation to the residents? They will face the absence of a housekeeper, so there will be no ongoing or major repairs. It will not be possible to call an electrician or plumbing, as well as get other important housework services.
Therefore, after the Criminal Code is declared bankrupt, actions are taken by residents:
- another management company is selected, for which companies operating on the market are evaluated;
- residents can count on the provision of utilities even during a period when they do not have a criminal code, but in this case receipts will come directly from resource organizations;
- the disadvantages of the process include the fact that residents usually face an increase in tariffs and prices for various services that were agreed upon when concluding an agreement with the previous company;
- if any apartment owners have debts to the closed Criminal Code, then the manager will file a lawsuit against them, after which the funds will be collected by bailiffs by force;
- even after the Criminal Code is declared bankrupt, no debts will be written off, and if recalculation will be made at all, such a debt may double.
Other consequences of a company’s bankruptcy include the appearance of certain temporary difficulties in obtaining utility bills.
Who is responsible for the bills?
If the UK has debts to various resource companies or government agencies, then they can in no way be transferred to the owners of apartments in the house. Therefore, residents may not worry that the local area or common property may be sold by the manager. This property belongs to the residents of the house, therefore, it cannot be used to pay off company debts.
In the process of declaring the company insolvent, apartment owners must still transfer funds for major repairs and maintenance of the building. Additionally, a fee is paid for the use of various resources, which include gas, water, heating and electricity.
Features of the procedure
In the liquidation of the Criminal Code due to insolvency, some nuances should be taken into account. These include:
- companies are declared bankrupt only if they cannot cope with their obligations for 6 months or a longer period;
- the countdown starts from the day when the company did not actually fulfill any agreement with residents, resource organizations or other institutions;
- external managers are not entitled to refuse to fulfill various obligations to consumers on the basis of an agreement drawn up with the Criminal Code;
- it will not be possible to use common property or the adjacent territory to pay off company debts, as these elements are the property of the owners of apartments in the building;
- only companies with a license to carry out activities related to the management of apartment buildings can participate in tenders at which asset management companies are sold.
Companies that have too many debts can completely sell the organization or submit zero declarations to the Federal Tax Service, after which the activities of the management company cease. Often in relation to such organizations numerous checks are carried out by the prosecutor's office, and if significant violations are detected, the founders can be brought to subsidiary liability.
Members of such an organization may be prosecuted on the basis of the provisions of Article 173.1 and Art. 173.2 of the Criminal Code. If the debt exceeds 100 thousand rubles, then the company is declared bankrupt. Therefore, even if the management company is represented by LLC, the founders can cover debts at the expense of their personal property if signs of intentional bringing the company to bankruptcy or illegal business are revealed.
Conclusion
UK are companies whose activities are aimed at the maintenance and repair of apartment buildings. Such organizations often have significant debts that they cannot handle. This leads to the fact that firms are declared bankrupt. The procedure is carried out exclusively through the court, as well as with the involvement of the manager.
For residents, recognition of the Criminal Code as insolvent is not a very pleasant moment, as this leads to some negative consequences. It is necessary to change the Criminal Code, as well as existing debts are not written off, therefore, they are forcibly recovered by bailiffs.