Bankruptcy - the inability of the debtor recognized by the commercial court to restore its solvency through reorganization procedures and amicable settlement and repay the established in the manner prescribed by law, the monetary claims of creditors only through the application of liquidation proceedings.
Insolvency of the debtor - the inability of the business entity to fulfill after the due date monetary obligations to creditors only through the restoration of its solvency.
Before deciding to participate in the bankruptcy procedure, it should be borne in mind that the basis for the introduction of a special procedure aimed at restoring the debtor's solvency or declaring him bankrupt and applying the liquidation procedure is the debtor's insolvency, which is established by the court.
The company offers a range of services for legal support of insolvency and bankruptcy proceedings, including:
- creation of the commission on termination (liquidation commission) and its activity;
- notice of creditors of termination;
- creation of an inventory commission and conducting an inventory;
- valuation of fixed assets;
- drawing up an interim liquidation balance sheet;
- systematization and analysis of applications with accounts payable;
- preparation of the liquidation commission's answers on the recognition (rejection) of accounts payable;
- formation and maintenance of the register of creditors "claims;
- preparation and approval of the interim liquidation balance sheet;
- assistance in the independent audit of the interim liquidation balance sheet;
- identification of the available property of the liquidated business entity;
- realization of the debtor's right to apply to the commercial court with a statement on the initiation of bankruptcy proceedings , namely:
preparation of the application and all necessary documents in accordance with the requirements of the legislation on the initiation of bankruptcy proceedings .
- representation of the debtor or the initiating creditor in court during the decision to initiate bankruptcy proceedings and the introduction of appropriate court proceedings;
- realization of the creditor's right to apply to the commercial court with a statement on initiating bankruptcy proceedings;
- representation of creditors 'or debtor's interests in court proceedings applicable to the debtor (disposition of property, amicable settlement, reorganization).