Legal entities can file for bankruptcy by filing an application with an arbitration court. The law on bankruptcy of individuals is under development, and officially individuals cannot be declared bankrupt, which does not prevent them from filing an application to the court if they cannot pay their debts and financial obligations.
Necessary
- -Application to the arbitration court
- -package of evidence
Instructions
Step 1
A legal entity is obliged to submit an application to the court for declaring the enterprise bankrupt in court. The application should indicate the reason for the bankruptcy and provide documentary evidence that there are large debts and there is nothing to pay for them.
Step 2
During the investigation, the court will appoint a commission of specialists to confirm the bankruptcy. The commission will check all financial papers and describe the existing valuable assets of the company. In accordance with a court order, an enterprise can be declared bankrupt on the basis of evidence and investigation. The property of the bankrupt enterprise will be seized and sold at auction, or a bankruptcy administrator will be appointed to solve the arising problems with debts.
Step 3
All funds from the sold property will be used to pay wage arrears in the first place and only after that to pay off other debts of the enterprise. If a bankruptcy trustee is appointed, then the enterprise will work and in the process of work will pay debts to all creditors.
Step 4
For individuals, there is a procedure for deferring payments and obligations or seizure of property. If a person cannot pay off loans, then he can apply to the arbitration court and provide evidence that he has no money.
Step 5
As in the first case, the court will appoint representatives to investigate the situation. Creditors will be obliged to provide the bankrupt with an installment plan for 5 years to be able to pay off debts. The debtor's property will be seized until the debt is fully paid off.
Step 6
If the debtor, after granting a deferral for debts, does not pay them, all his property will be put up for auction.
Step 7
Bailiffs do not have the right to take the last housing, personal belongings and the last 25,000 rubles, everything else will be sold and contributed to the debt.
Step 8
The debtor will be included in the general black lists of the bank, and he will never be able to take out a loan again.
