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Bankruptcy The bankruptcy - one of the mechanisms of recovery. Recovery through bankruptcy proceedings effectively in the event that the debtor has real assets to repay debt, while evading repayment. Bankruptcy - effective when the founders of the debtor's interest in maintaining a legal person debtor and its continuation. In such circumstances, the debtor is interested in resolving the issue of pay, in order to continue doing business for the entity. The issues are governed by federal bankruptcy law, the Russian Federation of 26.10.02 N 126 of the Federal Law «On insolvency (bankruptcy)». Federal Law «On insolvency (bankruptcy)» establishes the basis for the recognition of the debtor-entity, individual entrepreneurs and citizens insolvent (bankrupt), regulates the procedure and conditions for the implementation of measures to prevent insolvency (bankruptcy) procedure and conditions of bankruptcy procedures ».


Bankruptcy

The bankruptcy - one of the mechanisms of recovery. Recovery through bankruptcy proceedings effectively in the event that the debtor has real assets to repay debt, while evading repayment.

Bankruptcy - effective when the founders of the debtor"s interest in maintaining a legal person debtor and its continuation. In such circumstances, the debtor is interested in resolving the issue of pay, in order to continue doing business for the entity.

The issues are governed by federal bankruptcy law, the Russian Federation of 26.10.02 N 126 of the Federal Law «On insolvency (bankruptcy)». Federal Law «On insolvency (bankruptcy)» establishes the basis for the recognition of the debtor-entity, individual entrepreneurs and citizens insolvent (bankrupt), regulates the procedure and conditions for the implementation of measures to prevent insolvency (bankruptcy) procedure and conditions of bankruptcy procedures ».

Article 65 of the Civil Code stipulates that "legal person is a commercial entity, with the exception of SOE, as well as a legal entity acting in the form of consumer cooperatives or charitable or other fund, by court order can be insolvent (bankrupt).

In accordance with art. 3 Federal Law of 26.10.02 N126-FZ «Legal person is considered unable to meet the demands of creditors on monetary obligations if the obligations are not fulfilled them within three months from the date on which they were to be executed». Thus, if a debtor has execution, which was not he executed within 3 months, the creditor is entitled to apply to the Arbitration Court an Application instituting proceedings against the debtor"s bankruptcy proceedings.

The term of punishment in case of allegations against the debtor on the recognition of bankrupt average of 2 to 6 months.

Working arrangements to recover in the bankruptcy proceedings:

- Analysis of the debtor"s financial position and prospects for the initiation of bankruptcy proceedings;
- Application for bankruptcy in the Court of Arbitration;
- Negotiate with debtors;
- Participation in the case of bankruptcy of the arbitral tribunal;
- Consideration of entering into a settlement agreement with the debtor;
- Interaction with the liquidator;
- Control payment.

In the case of a debtor"s assets to repay debt under bankruptcy, the debtor or the payment of arrears in full or recovery of the debt is through the sale of property owned by the debtor.



Опубликовано: 04.01.2009
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