What is the bankruptcy of the enterprise. Bankruptcy proceedings. Liquidation bankruptcy.
Bankruptcy enterprise recognized by the arbitral tribunal established in the Arbitration Procedural Code of the USAn Federation iFederalny law the Federal Law "On Insolvency (Bankruptcy)" the inability of the enterprise to fully satisfy the claims of creditors on monetary obligations and (or) to fulfill the obligation to pay the required fees.
Bankruptcy of the enterprise is possible and necessary in the case where the debtor's existing cash and other assets are not sufficient to satisfy the claims of creditors and the company needed measures to withdraw from the crisis (in this case most often introduced external control procedure now, but the procedure provides several important observations advantages to being in a difficult situation of the enterprise), and if such measures are taken too late, the company declared bankrupt and creditors 'claims are satisfied proportionally according to the register of creditors' claims. Bankruptcy of the enterprise is not always its destruction, as many believe, often only the bankruptcy of the enterprise can bring it out of the crisis and to further work.
Bankruptcy allows the company to establish a moratorium on payments to creditors are given the opportunity to restructure debt, to avoid further charges sanctions. In addition, often in the process of bankruptcy is a settlement agreement with creditors. This is especially the case with such procedures as external management or financial recovery that you can get with mybkhelp.com help.
In this case, to the bankruptcy procedure was implemented enterprise requires a number of conditions.
Collage: Bankruptcy particular enterprise is considered to be unable to meet the demands of creditors on monetary obligations and (or) to fulfill the obligation to make compulsory payments, if the relevant obligations and (or) the obligation is not fulfilled them within three months from the date when they should have been done. The total amount of claims should not be less than one hundred thousand. Only under these two conditions simultaneously possible bankruptcy of the enterprise. In this case, the lender has the right to file for bankruptcy the company only if the debt is confirmed by a legally effective judgment. In this case, if the court decision terminated the contract and awarded funds must wait three months and then submit an application for bankruptcy of the company.
There are several procedures of bankruptcy introduced depending on the particular circumstances
observation is used in order to safeguard the assets of the enterprise, the analysis of its financial condition, in which the register of creditors' claims and the first meeting of creditors; Observation essentially designed to prevent further bankruptcy and possible illegal actions of its management, since many transactions are made only with the consent of the arbitration manager.
financial recovery as the procedure of bankruptcy is used to restore the company's solvency and repayment of debt held by the company in accordance with the debt repayment schedule;
external control - is also used to restore the solvency of the debtor. In fact the place of the director takes an external manager, which manages the activities of the debtor and is taking steps to bring the crisis
bankruptcy proceedings apply to the debtor, who adjudged bankrupt. This procedure is introduced for bankruptcy proportionate satisfaction of creditors in accordance with the register of creditors' claims, after which the company is liquidated, not debt repayment can no longer be brought to recover.
Also it should be noted that the bankruptcy of the enterprise is the only legitimate way of liquidation with debts. All other methods are actually or a change of management and founders of the company, or to join one organization to another, while the debt remains and lenders, as well as tax and law enforcement authorities at any time can make a complaint. So if you have decided to legally liquidate the company and he has debts, bankruptcy procedures can not be avoided. It is important to know that the liquidation of the enterprise through bankruptcy is possible under a simplified procedure with the introduction of bankruptcy proceedings immediately bypassing the stage of observation in order to reduce the cost of bankruptcy.
In addition, the bankruptcy of the enterprise is a good tool for recovery of bad debts in cases where conventional measures do not lead to positive results. Following the filing of a bankruptcy petition on business owners in danger of losing control over it, so part of the debt is extinguished even early in the bankruptcy process. If the competition has already been assigned or external manager, it also increases the chances to return the money, because manager is entitled to challenge the transaction and take other measures to identify and return the property of the debtor.