Petition to declare the debtor bankrupt and to open bankruptcy proceedings 2020

Grounds for ending a bankruptcy case

The procedure for declaring a citizen, entrepreneur or enterprise financially insolvent is carried out exclusively by decision of the arbitration court. If the case has already been accepted for consideration, termination of proceedings is permissible only on the basis of an application from an interested person or a corresponding ruling by a judge.

The following legal grounds are identified for termination of an insolvency case, based on Article 57 of the Federal Law No. 127 of 2002 on October 26:

restoration of the solvency of a person declared bankrupt as a result of external management or actions taken for the financial recovery of the debtor;
signing of a settlement agreement between the bankrupt and the lenders;
refusal of all known creditors from their claims for debt payment;
declaring as unfounded the grounds of a person who filed an application to the court for recognition of financial insolvency;
satisfaction of the claims of all creditors from a single register compiled by the temporary manager;
the debtor lacks property and finances to repay debt obligations.

Any interested person - citizen or legal entity - can declare the need to complete the bankruptcy procedure if there are compelling reasons for this. For this purpose, it is necessary to draw up an application for termination of the bankruptcy case (participants in the proceedings file a petition) and submit it to the judicial authority dealing with the consideration of the specific situation.

If the court decides to terminate the case of declaring a person bankrupt, a repeated appeal is unacceptable if we are talking about the same participants in the proceedings, similar grounds and requirements. The plaintiff will be able to appeal to the judicial authority again if the circumstances that served as the reason for refusing to consider the case are eliminated.

Arbitrage practice

If you look at judicial practice, most cases are terminated due to the signing of a settlement agreement by the parties. Typically, a company is given the opportunity to pay off obligations in installments. The second most popular reason is the lack of money for further proceedings.

We invite you to read: Voluntary liquidation of an LLC - step-by-step instructions in 2020

Some clarifications that are of utmost importance for the implementation of legal norms in practice are indicated in the Resolution of the Plenum of the Supreme Arbitration Court of the Russian Federation dated June 22, 2012. It says that it is possible to terminate proceedings at the observation stage, but only if creditors renounce their claims within 30 days from the publication of information about the introduction of this procedure.

In addition, you should pay attention to the clarifications of the RF Armed Forces dated August 15, 2020. They state that the minimum amount of debt to qualify for bankruptcy does not apply where the circumstances of the case clearly demonstrate the insolvency of the company (or individual).

How to write an application to terminate a bankruptcy case?

The procedure for declaring a person financially insolvent is terminated after the arbitration court makes a corresponding decision (from the moment it acquires legal force).

A petition or application submitted to a government body must be drawn up in writing, taking into account all the requirements specified in the legislation of the Russian Federation.

The content of the application to terminate the bankruptcy case must include the following items:

name of the judicial authority;
case number;
information about the participants in legal proceedings (creditors and debtor);
the circumstances on the basis of which the applicant requests to terminate the proceedings in this case;
norms of law to which the person refers (usually these are articles 37, 49, 150 of the APC, as well as articles 53 and 57 of Federal Law No. 127);
the applicant's request for a resolution to complete the bankruptcy procedure;
a list of documents confirming the validity and validity of the grounds for terminating the insolvency case of a person (for example, receipts certifying full repayment of the debt);
applicant's signature;
date and place of paperwork.

Sample Application for completion of bankruptcy proceedings, example

Thus, violations in the form of missed deadlines for submitting reports, failure to comply with creditors’ demands, delays in the assessment of property are not significant grounds for his removal, if this does not lead to losses for the debtor himself or his creditors.

The creditor's application shall be accompanied by the originals of these documents or their duly certified copies. Documents attached to the creditor's application to declare a citizen bankrupt may be submitted to the arbitration court in electronic form. According to paragraph 1 of Art. 9 of the Federal Law of 01.01.2001 N 127-FZ “On Insolvency (Bankruptcy)” all legal expenses, including the costs of paying remuneration to the arbitration manager in a bankruptcy case, are charged to the debtor’s property and are reimbursed from this property out of turn.

Appeal against the ruling of the arbitration court of the KO to establish the claim of Novitsky’s creditor.

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Successful completion of the bankruptcy procedure does not give the right to use credit offers for 5 years without necessarily indicating the fact of bankruptcy.

By the ruling of the Arbitration Court of the Vladimir Region dated April 09, 2020, a monitoring procedure was introduced in the case against Individual Entrepreneur Alexey Vyacheslavovich Potapov. Member of NP SRO "SEMTEK" was approved as temporary manager.

After the successful completion of the bankruptcy case, having gone through all the necessary procedures, the citizen will be freed from overwhelming debt obligations and will receive the long-awaited bankruptcy status. But you should carefully consider the consequences arising from it. In this article we will analyze in detail the completion of the bankruptcy procedure.

In order to complete the process initiated by the court, it is necessary to submit a corresponding application or petition to the authorized state body.

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When forming a bankruptcy estate, it is necessary to go through three stages:

property inventory;
its assessment;
exclusion of objects that are not included in it.

In the appeal, its applicants note that the court ruling dated December 10, 2012 in this case declared the actions of the bankruptcy trustee regarding the sale of the debtor’s property to be illegal and not giving rise to legal consequences.

The term of bankruptcy proceedings cannot exceed one year, but the Arbitration Court has the right to extend bankruptcy proceedings for six months, and if the need arises, it can be extended even more.

Required documentation to be included with the application

As mentioned above, any interested person participating in the process (for example, the debtor himself or his creditors) can submit an application or petition to the court. The law does not prohibit acting on behalf of a representative.

Any application to the court must be accompanied by the provision of additional documentation confirming that the applicant has grounds for filing documents and reasons for completing the procedure. Such papers include:

the applicant's identity card;
power of attorney certified by a notary office (if necessary);
constituent documents of the enterprise (if the debtor-applicant is a legal entity);
papers confirming the existence of the circumstances specified in the application or petition, but on the basis of which the person requires the completion of legal proceedings.

The exact list of documents required to be included in order to submit an application to the judicial authority depends on the circumstances as a result of which the termination of the procedure became possible. You can check the list of papers with a court employee or a lawyer (for example, a lawyer).

A detailed procedure for bankruptcy of individuals is in this article.

What to do if you are threatened by collectors, read this article https://urmozg.ru/bankrotstvo/ugrozhaut-kollectory/.

Consequences of termination of bankruptcy proceedings

Based on Article 56 of Federal Law No. 127, after the completion of the process in the case of declaring a person financially insolvent, all restrictions established in connection with the beginning of the procedure are lifted.

In other words, prohibitions on the disposal of property, the impossibility of crossing the border of the Russian Federation, making any transactions to alienate the debtor’s property, etc. are removed.

After considering the insolvency case, the court makes a decision to terminate the procedure initiated against the citizen or enterprise. Not all of a debtor's obligations cease after a court order is issued.

For example, a citizen in respect of whom a decision has been made to pay alimony must fulfill his obligation even if he is declared insolvent. The same rule applies to payments for compensation of damage caused to the health of citizens, as well as those related to an officially concluded employment contract.

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Sep 10, 2019adminlawsexp

Bankruptcy proceedings in case of bankruptcy of a legal entity

External management and bankruptcy proceedings under the control of the arbitration court in the event of bankruptcy of a legal entity are introduced with the aim of maximizing the full fulfillment of the debtor’s obligations to creditors with the subsequent liquidation of the enterprise and exclusion from the Unified Register.
These procedures are aimed, first of all, at satisfying the interests of third parties whose debts have not yet been repaid by the bankrupt company. Also, these measures are mandatory for the debtor, since without their implementation the official liquidation of the enterprise is impossible. Let us understand in detail what bankruptcy proceedings are as a bankruptcy procedure.

In this article you will find all relevant links to Russian legislation.

Insolvency proceedings - regulatory aspects

In accordance with stat. 124 of Law No. 127-FZ of October 26, 2002, bankruptcy proceedings represent the final stage of recognizing the debtor’s insolvency.

The duration of the event is a maximum of six months, but may be extended at the request of the participant in the case for another six months.

The corresponding decisions are made only by the arbitration court, the basis is the petition of the manager or the meeting of creditors.

Note! Not all bankruptcy procedures include bankruptcy proceedings: often rehabilitation measures in the form of reorganization or external management can bring positive results so that the debtor pays off debts without selling off assets. And in some cases, on the contrary, creditors may file a petition to skip the reorganization stage due to the unfoundedness of this measure in order to proceed to proceedings immediately.

From the date of the decision on production, the bankrupt enterprise does not receive a second opportunity to carry out rehabilitation, that is, there is no turning back. The debtor will have to part with his own property, pay his obligations and completely close his activities by liquidating the business. In this case, introduction into bankruptcy proceedings is possible in the following situations:

The stages of financial recovery and external management did not produce a positive result in the form of repayment of current debts.
The arbitration court considered it inappropriate to open rehabilitation stages when confirming the debtor's insolvency.
The terms of the concluded settlement agreement were disrupted due to the fault of the bankrupt company.

Since the final stage of the bankruptcy procedure opens if the total amount of debts exceeds the total value of the organization’s available funds and assets, the goal of bankruptcy proceedings (CP) is absolutely complete settlement with creditors by legally selling all the property (bankruptcy estate) of the bankrupt and maximizing the repayment of obligations . If it is not possible to fulfill the requirements in full, the debts are repaid proportionately, after which the bankrupt as a legal entity is officially liquidated.

How does the opening of bankruptcy proceedings proceed?

If the court opens bankruptcy proceedings, what does this mean? Since the task of the CP is to repay creditors’ debts according to fairly proportionate principles, the debtor’s property is accumulated through the formation of a bankruptcy estate, and then its sale is carried out. The legal consequences of the production stage are listed in stat. 126 No. 127-FZ:

The debtor is finally presented with obligations by the arrival of deadlines for fulfilling the requirements.
The accrual of all kinds of penalties, interest, and fines stops.
Information about the current financial situation of the bankrupt is no longer recognized as a trade secret and can be disclosed publicly.
Concluding transactions aimed at alienating company assets is prohibited.
The validity of previously applied executive documents is terminated upon transfer to the bankruptcy trustee.
Any claims of creditors are allowed to be presented only directly during the CP process.
All restrictive arrests previously imposed on property are lifted - for example, blocking of accounts, etc.
Calculations for the current obligations of the bankrupt, including tax payments, are carried out by the bankruptcy trustee, taking into account current legislative norms.
All governing powers, including the transfer of reports, other documentation, and seals, are transferred to the bankruptcy trustee from the date of the court decision on the CP.

The result of the bankruptcy is the deprivation of the bankrupt's legal status, the removal of the business from the list of economic entities, and the liquidation of the legal entity.

The approval of the candidacy of a manager (competitive, not external) is carried out by the court (stat. 127 No. 127-FZ) with immediate assumption of office from the date of publication of the ruling.

Control over the actions of the manager in order to avoid abuse is assigned to the meeting/committee of creditors and court authorities.

Petition for the introduction of bankruptcy proceedings - download a sample here.

Main stages of bankruptcy proceedings:

The arbitration court makes a decision on the need to conduct a commercial contract and appoint a manager.
Notification of a bankrupt company about the commencement of proceedings, removal of previous management, issuance of an order on the transfer of powers.
Notification of the territorial division of the Federal Tax Service according to the approved form about the bankruptcy of the organization.
Publication of an announcement in the media indicating information about the place of receipt of requirements and the upcoming deadlines for compiling the register.
Accumulation of information about the assets of the bankrupt, the formation of a bankruptcy estate from property, if necessary, a search for assets, collection of receivables, analysis and control of transactions are also carried out.
Introduction of a moratorium on compliance with requirements.
Formation of a register of bankruptcy creditors, that is, with priority benefits in the payment of debts.
Valuation of property of the bankruptcy estate, organization and subsequent holding of open trade events.
Payments to creditors, taking into account register requirements and priority.
Closing bank accounts after satisfaction of requirements.
Formation of a manager’s report on the results of production and presentation of documentation in court. If the review is positive, the court makes a decision to declare the company bankrupt.
Publishing a message in the media.
Transfer of the decision to the Federal Tax Service for the official liquidation of the enterprise within 5 days (working days) from the date the tax authorities received the court decision.
Making an entry in the Unified State Register of Legal Entities, which means termination of the manager’s powers and closure of the business.

Presentation of creditors' claims in bankruptcy proceedings

It is not enough to just declare the debtor bankrupt and open bankruptcy proceedings; you need to pay off your debts to creditors as fully as possible. Repayment of all claims is carried out according to the statute. 134 No. 127-FZ priority:

Out of turn - repayment of current obligations is carried out according to the priority determined by clause 2 of the statute. 134.
First-priority payments – repayment of claims related to harm to the health of citizens or life is carried out.
Payments of the second stage are made according to settlements with personnel under employment contracts or royalties.
Payments of the third stage - all other types of payments are performed.

Note! It is legally prohibited to move from one queue to another until the debts on the previous one are completely closed, which in some situations makes it impossible for some creditors to get their money.

Completion of bankruptcy proceedings

In accordance with stat. 149 No. 127-FZ, the determination to complete the CP is made by the court based on consideration of the manager’s report on the actual results of the proceedings. After the debts are repaid, a decision is made to declare bankruptcy.

Then, within 30-60 days, the court sends information to the registration authority to make an appropriate entry about the liquidation of the debtor in the Unified Register. The Federal Tax Service is given 5 working days for such actions from the date of receipt of the court ruling.

Conclusion - in this article we found out that bankruptcy proceedings are a bankruptcy procedure applied to the debtor for the purpose of settlements with creditors and the subsequent exclusion of the bankrupt from the Unified State Register of Legal Entities.

Source: https://www.zakonrf.info/content/articles/konkursnoe-proizvodstvo/