Issues related to insolvency of enterprises and organizations are very relevant, given the current conditions. The instability of the economy, the financial crisis, 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 jur. persons and the main stages of this procedure is the topic of this article.
The concept
A legal entity is recognized insolvent solely by decision of the arbitration court. And this decision is preceded by a long and laborious process. Bankruptcy jur. persons - this is a set of procedures, after passing which confirms the inability of organizations to meet the requirements of creditors and fulfill obligations on basic payments. To file an application with the appropriate authorities, the debtor must meet certain requirements. So, for example, for the implementation of the procedure, the debt of the organization must not be repaid within the last three months.
Bankruptcy proceedings may 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 who represents the interests of the enterprise that must begin this process.
Background
What factors lead to the fact that bankruptcy jur. persons 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 increase. In such an environment, business offenses became quite frequent. Often bankruptcy proceedings persons are initiated by tax authorities. A similar situation arises because debtor enterprises do not declare their insolvency, and lenders are not able to obtain information about the solvency of these organizations.
Signs
Bankruptcy Procedure persons controlled by federal law. In Art. 65 of the Civil Code of the Russian Federation it is determined that an organization may be declared insolvent only if it is not a state-owned enterprise, institution, religious association or political party. Signs of bankruptcy persons - this is the inability of the company to make mandatory payments and satisfy the requirements of creditors.
If the debtor intends to independently apply to the court, he must meet certain criteria. The main one is a certain amount of debt. Only without making obligatory payments in a specified period of time, procedures begin, the result of which is the bankruptcy of legal entities. persons. The amount of debt to creditors should be at least 100 thousand rubles. Undoubtedly, this obligation is confirmed in the arbitration court.
Where does the procedure begin?
Bankruptcy Law persons - a document with which all participants in the process should be familiar with without exception. Updates are constantly taking place in the regulatory framework, and therefore it is necessary to use the latest edition, which includes all changes and additions.
Insolvency (bankruptcy) legal persons - this is the result of a complex lengthy procedure, which has many nuances. It is quite difficult for a person who does not have a legal education and experience in this field to go through all the stages and collect independently a complete package of documents. Most owners of organizations in such cases turn to specialists, whose services, however, are quite expensive.
To have an idea of what the bankruptcy procedure of legal entities looks like. persons should highlight its main stages.
Statement
How to file for bankruptcy legal faces? The initial step in this procedure is to prepare a statement. Both the debtor and the creditor can sue him. Consider a situation in which a business owner, feeling the insolvency of his company, himself acts as the initiator of this process.
Voluntary Bankruptcy Law persons - this is the procedure in which an individual representing the interests of the organization independently submits an application to the arbitration court. This document must be signed by the founder, who has the right to do so in accordance with the charter. In most cases, it is the owner of the organization.
In order to avoid temporary delays, the preparation of the statement should be entrusted to a specialist. In this case, the document will be drawn up correctly, in accordance with all standards. The procedure will take not so much time, in which not only the owner of the enterprise, but also its creditors are interested.
Bankruptcy petition persons must have an established form and possess the following data:
- the name of the arbitral tribunal;
- the amount of payments claimed by creditors in accordance with the financial obligations of the debtor;
- total debt:
- information on the basis of the inability to fulfill all requirements;
- information on documents presented for writing off debt from all accounts of a legal entity;
- information from other credit institutions (if any);
- an indication of 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 general rule. But because the greater the remuneration, the less money is spent on satisfying creditor claims. As well as 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 insolvent organization is drawn up.
Insolvency (bankruptcy) legal persons is recognized on the basis of information provided by specialists after monitoring the operation of the enterprise at different stages of the procedure. At the initial stage, the organization does not stop its activities. Employees continue to fulfill their responsibilities. But certain restrictions appear in the work of governing bodies. The following actions are prohibited:
- 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 the interim manager. This specialist draws up a report on the financial situation in the enterprise and submits it to the arbitration court.
It is worth saying that the bankruptcy procedure is often used as a way to evade one’s obligations. This action is unlawful. In addition, liability is provided for in the Criminal and Administrative Codes for intentional bankruptcy.
An important step in the monitoring procedure is the first meeting of creditors. 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 monitoring 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 a debt repayment plan. It is designed for a period of up to two years. But if the situation does not change after the deadline and the requirements are still not satisfied, the meeting of creditors draws up a petition to the arbitration court.
Information about bankruptcy jur. persons are reviewed and verified repeatedly. After undergoing 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 activities of the organization at this stage are significantly different from the work of the enterprise at the previous stage of the bankruptcy procedure. The General Director and other governing bodies are suspended from business, and their duties are performed by an external manager. The positive moment in this period is that a moratorium is established to satisfy the requirements of all creditors. Debt that arose before the arrival of the external manager is not paid, and this enables the company to restore its financial well-being.
All stages of bankruptcy persons have their own characteristics and nuances. Each of them is aimed at achieving any goals. In the framework of external management, a plan is drawn up that forms the main measures to eliminate insolvency. This can be achieved through various actions.
Restore company insolvency with the help of the following measures:
- closing unprofitable industries;
- sale of property of the debtor;
- reprofiling 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 final. If the above procedures did not produce results, and the debt to the creditors could not be repaid, bankruptcy proceedings are introduced. From this moment, 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 manager at this stage is led by a bankruptcy trustee. The duration of this procedure is six months. The main function of the bankruptcy trustee is a detailed inventory and assessment of all property of the bankrupt organization.
The specialist also draws up a report. It shows the bankruptcy estate , that is, the property of the debtor in full. Based on this report and after satisfying the claims (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 received information to state bodies, where the fact of liquidation of the legal entity is recorded. The entry is made in the unified state register.
Bankruptcy Law persons called upon to improve the financial situation of the enterprise. Its purpose is not to liquidate the organization. Bankruptcy proceedings are usually a last resort. Debt collection using this procedure does not always lead to results that could satisfy creditors.
The legislation provided for several scenarios for the development of bankruptcy proceedings. At best, it could be “financial rehabilitation.” At worst, the criminal liability of the founder. But still, in many cases, this process contributes to the improvement of the organization. After passing 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 the creditors, whose claims will be satisfied by liquidating the organization. If not in full, then at least partially. The procedure, of course, is able to alleviate the fate of both the owner and director of the company. The owners of the organization, whose activities were in a difficult situation, the law provides an opportunity to get rid of life-long repayment of debts, having gone through the bankruptcy of legal entities. persons.
Effects
After completion of all procedures, organizational documents are transferred to the archive. The debtor ceases to exist, and with it ceases to exist and its debts. Often, a bankruptcy of legal entities is a saving tool for an enterprise. persons with loans. The consequences of such a procedure, however, do not always have a positive effect on the fate of the CEO. Although in most cases, after going through all the procedures, he does not lose anything and even the court cannot force him to make additional investments, nevertheless there are exceptions to this rule.
Law enforcement agencies can establish a causal relationship between the failure of the organization and the actions of the founder, which will indicate fictitious or intentional bankruptcy. In this case, the losses of the victims, namely creditors, will have to be compensated for by the perpetrator at the expense of their personal property. This mechanism can only be implemented by a court verdict. The Director General shall be liable with his own property only when establishing a fact that indicates the commission of an economic crime.
Criminal liability
As already mentioned, fictitious or deliberate bankruptcy can lead to very unpleasant consequences. Law enforcement authorities can initiate a criminal case upon the commission of such crimes on the basis of a statement from a creditor, observer, bankruptcy trustee, external manager or other interested person.
Restriction of rights
The fact that the organization was declared insolvent can in no way affect its founders. They have the right to engage in entrepreneurial activity, create new enterprises and firms, and implement various commercial projects.
But strict measures are being taken against the CEO or accountant. If serious violations are discovered during company liquidation, legal proceedings may be instituted. The result may be a deprivation of rights to conduct a particular activity.