Unjustified receivables are those that arose as a result of violation of settlement and financial discipline, existing shortcomings in accounting, weakening of control over the supply of material assets, the occurrence of shortages and thefts (goods shipped but not paid on time, debt for shortages and thefts, etc. ).
The following types of receivables are also distinguished: receivables from buyers and customers, subsidiaries, affiliates, jointly controlled legal entities, other receivables, deferred expenses, receivables for advances issued.
Accounts payable can be reduced to three groups.
The first is the organization’s debt to the budget and social funds.
What is moratorium debt
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Duration of the moratorium
The legislation does not provide for a fixed period for the duration of the moratorium on satisfying creditors' claims. The period for freezing payments is set by the manager. If necessary, the period can be extended.
The reasons for this may be the following conditions: for example, it was not possible to achieve the set goals within the allotted time, and the situation at the enterprise has not changed for the better.
During the period of freezing the fulfillment of financial obligations, the manager has the right to:
- do not make payments on accumulated debts;
- not to execute doubtful transactions;
- postpone contracts that interfere with achieving financial stability.
That is, everything that could interfere with the restoration of solvency and lead to losses is rejected.
The maximum possible moratorium period is 3 months, although external management can be extended up to one and a half years.
When the moratorium is lifted, two scenarios are possible for the situation to develop. The positive scenario is that:
- financial stability has been achieved,
- funds appeared to pay off debts to creditors;
- bankruptcy proceedings are suspended.
For your information
If such results could not be achieved during the past moratorium period, then a general meeting of creditors is convened, where a decision is made on the bankruptcy procedure. In other words, it is proposed to sell all existing property under the hammer to receive a competitive sum of money.
All proceeds go to pay off debts. Repayment occurs in order of priority, according to the entries in the register. The next stage: liquidation of production and closure of all debt obligations.
Moratorium receivables: what does a moratorium on debt payment mean?
Or information about this appears in the media at the initiative of the creditor. In some cases, employees of an enterprise may initiate bankruptcy of the enterprise if large wage debts have accumulated.
Therefore, the decision on the issue of introducing a moratorium on satisfying claims is in the hands of the external manager. But it is not within his competence to independently introduce such a decision: an official moratorium on the fulfillment of financial obligations is issued by the court. When making a decision, the arbitration court takes into account the following factors:
- the possibility of obtaining a positive result from the moratorium.
- the feasibility of introducing a ban on the fulfillment of obligations;
From the moment the court decision is made, all debt payments are suspended.
To do this, the amount of debt must be more than 300 thousand rubles. The company's management is removed from fulfilling its responsibilities for managing and disposing of finances.
What are receivables, payables and moratorium debts - Auctions and bidding for bankruptcy
Thus, an economically healthy organization should mark accounts receivable an order of magnitude higher than accounts payable.
The debtor's balance has increased - this indicates the possibility of repaying one's debts using obligations reimbursed in the future. An important indicator of the analysis is the turnover of receivables. It shows how many revolutions are made by funds over a certain period (year). It is quite possible to turn receivables into financial resources, if necessary.
How can this be “cranked out”? The sale of receivables is the transfer of someone else's obligations that have arisen to you to another person for money. To explain it in simple words, this is the name given to debts that appear after the bankruptcy procedure has been completed.
They usually arise in companies going through bankruptcy proceedings. This measure becomes a kind of support for debtors, because they have the opportunity to count on some deferment.
The essence and concept of a moratorium
A moratorium debt is a certain obligation that appears after a careful study of the situation and situation in which the enterprise finds itself. The decision whether or not to assign bankrupt status to a company also matters.
Essentially, moratorium debt is debt incurred after bankruptcy.
Such a measure of influence is support for debtors. Legal entities have a certain temporary deferment. Typically, the moratorium scheme is applied simultaneously with the appointment of external management of the company.
When carrying out an inspection, the debtor is deprived of the right to make decisions independently. Moreover, you cannot decide where and for what purpose to send funds.
Some restrictions also apply to creditors. They will have to forget about their demands for a set time, and some will need to be closed completely.
Debt moratorium is a method of dealing with debts
During this period, the legal entity must take all measures to improve its situation. The main goals of introducing a moratorium include:
- Ensure simplicity and ease of exit from a crisis situation.
- Providing assistance to the enterprise and its restoration.
- Direct funds from the activities performed for development and return to the standard regime.
- Stabilize the overall financial situation.
A moratorium on debts is the most attractive aspect of bankruptcy. A moratorium, as a method of obtaining funds for debts, is introduced as soon as the debtor makes a public statement about his own insolvency.
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The company must officially and publicly declare that today it does not have the ability and means to repay its debts.
The bankruptcy procedure can be introduced not only at the initiative of the manager, but at the request of the employees if they do not receive a salary for a long time.
Additional nuances
The use of a simplified bankruptcy procedure makes it impossible to introduce a moratorium. In this case, they immediately begin with the liquidation of the company. Health improvement and external management are simply not carried out.
It happens that entrepreneurs declare fictitious bankruptcy. There may be reasons for this action:
- hide the size of large thefts;
- mislead counterparties;
- evade payment of obligations;
- receive additional personal benefits.
All these actions are punishable and are subject to the Criminal Code. Intentional bankruptcy is in itself a violation of the law.
At the same time, creditors and the debtor always have the opportunity to begin peaceful negotiations. The main thing is that the arbitration court approves such an agreement. This allows you to stop bankruptcy.
What is moratorium receivables
At the initiative of the creditor, this information may be released to the media. enterprises can be initiated by the employees themselves.
For example, when they have not received wages for too long.
But this requires a debt amount of 300 thousand rubles or more. At such moments, the company’s management is removed from the direct management of the project.
This issue is managed by an external manager. However, the final decision on the case is made only by an employee of the arbitration court. He is considering how appropriate it would be to introduce such a ban. It is also important whether the moratorium will lead to a positive result. Debt payments are suspended as soon as the court makes an appropriate decision.
A moratorium debt is part of a forced or voluntary procedure. First, a decision is made that the bankruptcy application is justified. After this, they begin special measures aimed at improving or reorganizing the production process.
Important points
If the company begins to go through simplified bankruptcy, the measure to establish a moratorium will not be used. In such a situation, the process of liquidation of the enterprise immediately begins.
Some dishonest managers declare bankruptcy for no reason, fictitiously. Such an operation is carried out for the following purposes:
- Hide the volume of thefts;
- Deception of numerous counterparties;
- Evasion of debts and other obligations;
- Receiving benefits.
Fictitious bankruptcy is prohibited by law. Such actions are criminally punishable.
It is also worth understanding that the head of the organization and creditors are able to reach an amicable agreement among themselves. If the arbitration court staff approves this agreement, this will allow the bankruptcy process to be officially suspended.
What are receivables, payables and moratorium debts
This kind of debt negatively affects the financial condition of any enterprise whose loan has acquired the status in question.
Important! If any person undertakes to repay at least part of the debts, and voluntarily, then he is not obliged to pay for the moratorium (debt litigation is moratorium). This rule applies only if the time of voluntary payment coincides with the time of bankruptcy proceedings. In order to prevent unjustified receivables from arising, the organization regularly carries out the following “preventative” processes:
- assessment of the financial condition of the consumer who is the owner of such debt as a creditor.
- the creditor is subject to careful analysis;
- specific deadlines for paying off debts are determined;
In some cases, a debt moratorium is the only correct way out of the current situation.
Debt management participants
When bad accounts receivable appear, the company receives less profit and is left without working capital. If there are a lot of such debts, the company cannot purchase raw materials, produce products, pay salaries and taxes - this is fraught not only with losses, but also with bankruptcy. Therefore, the task of managers is to repay debts, and ideally, to prevent such situations. This work is called accounts receivable management.
Here are some methods you can use to manage accounts receivable:
- Inventory debts - this helps to identify doubtful and bad receivables. A company can conduct an inventory of debt at any time on its own initiative, but there are cases when it must be carried out - for example, if theft is discovered at the enterprise or the owners decide to liquidate the organization. In addition, an inventory is carried out before issuing the annual report. The inventory of settlements with debtors, buyers and suppliers is drawn up in a special act, and based on its results, the accounting department draws up a special certificate.
- Determine debt repayment dates and remind counterparties about them. In this case, the accounting department checks the debt with the dates specified in the contracts, checks shipments, and also sends letters to partners reminding them of the payment date.
- Estimate labor costs for debt collection. It is possible that the cost of collection work is not comparable to the amount of debt - lawyers' fees and court costs will be more than the money that can be returned. Therefore, you can set a minimum for which it is worth organizing collection work, and control only the debt that is higher than this amount.
- Check the debtor's solvency. Perhaps the bankruptcy stage is already underway, and everything must be done urgently to get into the register of creditors. In the file of arbitration cases, you can see if a bankruptcy claim has been filed against the counterparty. To see if it is already at any stage of bankruptcy - in the Unified Federal Register of Information on the Facts of the Activities of Legal Entities. You can check whether the debtor is in the process of liquidation or reorganization in the Transparent Business service of the Federal Tax Service.
To ensure that partners pay on time, company employees check debtors before concluding a deal, and also draw up contracts so that it is unprofitable for the client to become a debtor. For example, they prescribe fines for late payments.
In addition, the company must control the volume of overdue accounts receivable and issue claims to unscrupulous customers. Accounts receivable management also involves collecting debts from persistent defaulters through the courts.
The accounts receivable management process is divided into four stages:
- Planning, during which the company’s management determines the company’s receivables management policy and work regulations.
- Coordination of employees from different departments who will check potential counterparties, evaluate debt and contact debtors.
- Motivation of employees involved in accounts receivable management.
- Control over how all this work goes.
Company employees keep records of debts, periodically reporting to management, study the reasons for what happened, repay existing debts and make sure that new ones do not accumulate.
Moratorium on satisfying creditors' claims
During this period, the legal entity must take all measures to improve its situation.
The main goals of introducing a moratorium include:
- Providing assistance to the enterprise and its restoration.
- Ensure simplicity and ease of exit from a crisis situation.
- Direct funds from the activities performed for development and return to the standard regime.
- Stabilize the overall financial situation.
A moratorium on debts is the most attractive aspect of a bankruptcy process. A moratorium, as a method of obtaining funds for debts, is introduced as soon as the debtor makes a public statement about its own insolvency. The company must officially and publicly declare that today it does not have the ability and means to pay off its debts . The bankruptcy procedure can be introduced not only at the initiative of the manager, but at the request of the employees if they do not receive a salary for a long time.
Let's sum it up
- The moratorium should not be regarded as an infringement of the rights of creditors. On the contrary, this is the only opportunity to receive funds.
- If a difficult situation arises at the enterprise, a moratorium can play a positive role.
- The moratorium applies only to those areas, information about which is documented.
- Failure to comply with the moratorium requirements may result in certain penalties.
- In case of simplified bankruptcy, a moratorium procedure is not carried out.
Moratorium receivables are
This issue is managed by an external manager.
However, the final decision on the case is made only by an employee of the arbitration court. He is considering how appropriate it would be to introduce such a ban.
It is also important whether the moratorium will lead to a positive result.
Debt payments are suspended as soon as the court makes a corresponding decision.
Info The document limits the bank's rights regarding the return of the debt. In simple terms, this procedure represents the right to defer payments on obligations. It falls under the category of insurance cases.
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From the moment of its introduction, the organization suspends all payments and operations except current ones. During the validity of the law, an external administrator evaluates the assets of a company or bank and the possibility of payment for all required items. Having a problem? Call our lawyer: Moscow and Moscow region: (the call is free) The introduction of the measure is due to the need to restore a person’s ability to pay existing debts.
Scope of the moratorium
While the appointed external professional management is being carried out, the resulting loan obligations are transferred to the deferred category. After the restrictions are lifted, you will have to pay off those debts that arose under official executive documents. We are talking about paying off debts such as:
- Expenses for current items;
- Copyright or official intellectual property;
- Items that have become illegally owned;
- Various property claims, for example, mortgages;
- Damage to morale or health;
- Enforcement documents required for forced collection;
- The stipulated salary.
As soon as a moratorium is introduced, the institution of settlement agreements and the statutory limitation period automatically terminate.
What is moratorium debt
In the Middle Ages, an even broader concept of indult appeared, which first meant a delay, and then a different privilege in general.
The moratorium gradually acquires the character of a legal institution, which is provided for by the laws of the country as one of the conditions for the insolvency procedure. Past due means a debt that has not been paid for a payment period for more than one full subsequent payment period.
Specific entries here are made in the appropriate subsection “Fines, penalties, penalties.” Compliance with this rule guarantees the order of the plaintiff’s accounting.
Considering that the reason for declaring bankruptcy is a shortage of material resources, the debtor is interested in saving money and reducing the accrual of moratorium claims.
According to the current law, the accrual of interest on a loan is not included in current payments if the loan was provided before the bankruptcy procedure was introduced.
Penalties and penalties
These are certain sanctions that are assessed due to failure to comply with the requirements established by the moratorium.
You should be aware that the natural inflation index does not apply to such debts. Interest charges on debts are added until one of the following conditions occurs:
- The process of official bankruptcy has been launched and special bankruptcy proceedings have been appointed.
- Satisfying the requirements put forward by creditors.
- Making a court decision regarding the payment of debts.
Demands for the payment of additional interest may be made by creditors or their officially authorized persons. Rates directly depend on the indicators established by the Central Bank. The manager has the right to request a reduction in the percentage or accrual period.
So, under the adopted moratorium regime, penalties, penalties and fines are not assessed. Instead, a certain percentage is charged.
What is moratorium interest in bankruptcy?
Accordingly, interest on the use of other people's funds during bankruptcy actually replaces fines. When bankruptcy procedures are started, the accrual of contractual payments is automatically suspended.
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At the same time, the value in question here acts as a compensatory mechanism for protecting the interests of creditors. Moreover, the legislation forces the plaintiff to include it in the specified amounts. Accordingly, repayment of such obligations becomes a priority for the debtor. During the observation stage, these payments are not included in the list specified in the register of creditors' claims.
This value is not recalculated if separate accompanying amounts arise in the case. To calculate this parameter, a special formula is used, which will be discussed below. In addition, the law requires compliance with certain rules when accounting for these payments. An important task for
When is the moratorium introduced?
After the arbitration court makes a decision to recognize the bankruptcy petition of an enterprise as justified, a number of operations are carried out to improve and reorganize production in order to restore financial solvency and profitability.
At the first stage, monitoring of the activities of the management to resuscitate the enterprise is introduced. Based on the results of the first stage, the meeting of creditors determines the next step. This may be a financial recovery in which the company continues its activities, but with some restrictions. For example, it is not permitted to sell assets or the entire enterprise. It is possible to introduce a bankruptcy procedure. It is also possible to introduce external management, in which management is recognized as ineffective and removed from performing duties. At this stage, simultaneously with external management, a moratorium on creditor claims is established. From this moment, all enforcement obligations and debt payments that occurred before the introduction of the moratorium are terminated.
Procedure for introducing the procedure
The moratorium procedure is introduced by decision of the arbitration court. Usually, a separate resolution on this issue is not issued, and the court makes a decision on the introduction of a moratorium along with the introduction of an external management procedure.
The move to external management means that the court sees potential for restoring solvency, but considers mismanagement of the company to be the main reason for the financial collapse. The court makes a decision on the transition to external management at the request of the first meeting of creditors based on the results of the observation stage or meetings of creditors at other stages.
The transition to the stage of external management involves the removal of the company's management from further activities and the transfer of affairs to an external manager. A company can remain in a preferential regime for up to 1.5 years.
