Bankrupting a legal entity in a fast procedure

The financial crisis of our country, mass liquidation of banks, inflation, as well as  frequent changes in the sphere of state regulation negatively affected the financial condition of most enterprises.

A bank that is in the process of liquidation, according to current legislation, can demand early repayment of the loan and most often does exactly that. No one will care that your mortgage was originally issued for 10-20 years. "Irrespective of the term of validity of the credit agreement, the liquidator has the right to demand early fulfillment of the terms of the credit agreement before the end of the liquidation process".

If you do not know how to deal with accounts payable, banks do not allow the enterprise to function normally, there is a solution to your problem - liquidation through the bankruptcy procedure.

The company "RegService", which provides legal services to the population in various areas of law, offers support services at all stages of the bankruptcy and liquidation procedure.

The bankruptcy procedure is a very convenient legal mechanism that allows you to solve many issues in favor of the client. Competent use of specialized legislation can protect the interests of both the debtor and the creditor.

Bankruptcy by owner's decision is a controlled process initiated by the debtor. Due to the bankruptcy procedure, the company can, for example, optimize work with creditors. The Law of Ukraine "On restoring the debtor's solvency or declaring him bankrupt" provides for the introduction of a moratorium on the satisfaction of creditors' claims from the moment of the commencement of bankruptcy proceedings.

In case of enterprise bankruptcy, the debtor receives a number of undeniable benefits:

• The debtor himself can control and initiate the bankruptcy process of the enterprise.
• Accrual of penalties (fines, penalties), interest and other economic sanctions on all types of debts of the bankrupt enterprise is stopped.
• The arrest imposed on the debtor's property, as well as other restrictions on the disposal of property, are lifted.
• Controlled process of sale of enterprise property.
• After the court issues a decree on the liquidation of the enterprise, all debts are considered paid (regardless of the amount that remained unpaid).
• If the debtor under the credit agreement was liquidated, the effects of suretyship agreements (pledges, mortgages) that ensure obligations under this credit agreement are also terminated.

The main stages of liquidation through bankruptcy by decision of the owner:

1. Decision on termination of activity and appointment of the chairman of the liquidation commission.
2. Conducting the liquidation procedure according to the decision of the owner.
3. In 2 months after the decision on liquidation - submission of an application for recognition of bankruptcy to the court.
4. Issuance of a resolution on recognition of bankruptcy by the court.
5. Liquidation procedure.
6. Decision by the court on the liquidation of the enterprise. Exception from the Unified State Register of Legal Entities and Individual Entrepreneurs.

The services we provide in this area include:

• Free consulting support at all stages of the process regarding the specifics of the bankruptcy procedure.
• Legal analysis of the situation with modeling of possible solutions.
• Comprehensive support of the pre-trial liquidation procedure (preparation of the decision on termination of activity and appointment of the chairman of the liquidation commission, submission of the necessary documents to the state registrar, publication of the announcement, inventory of property, obtaining the necessary statements, closing accounts, passing checks in state bodies, consideration of creditors' claims, collection accounts receivable, property valuation, etc.).
• Preparation of the necessary package of documents for submitting an application to declare the debtor bankrupt  to the court.
• Initiation of bankruptcy procedure in court.
• Comprehensive implementation of the liquidation procedure in court (participation in court sessions, inventory of property, obtaining the necessary extracts, consideration of creditors' claims, analysis of financial and economic activity, dismissal of employees, valuation of property, formation of liquidation mass, sale of property, distribution of money, etc. ).
• Preparation of the necessary package of documents for submitting the liquidator's report to the court.
• Introduction of changes regarding the termination of the activity of a legal entity to the Unified State Register of Legal Entities and Individual Entrepreneurs.

In order to start the liquidation procedure of a legal entity, we need the following documents:

No	Document name	+/-
1.	Copy of the statute in the latest version
2.	Copy of inventory acts for the last three years
3.	A copy of the balance sheet for the last reporting period
4.	Copies of credit agreements, surety, pledge, mortgage agreements
5.	Copy of the certificate of registration with the tax service (4-OPP) and the certificate of the payer of VAT or single tax
6.	Documents confirming receivables
7.	Copies of property title documents
8.	A list of your debtors, if any
9.	A list of your creditors, if any

 

As you can see, declaring bankruptcy is a rather complicated process that requires a large number of documents. With the help of the company "RegService" you will be able to collect them all without any problems.

By contacting our specialists, you will receive a 100% positive result and professional help of practitioners in bankruptcy procedures, your time and nerves will be carefully saved by the company.

For a free consultation, fill out the application right now.

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