арбитражный управляющий при банкротстве

Legal briefing notes

Why is it necessary to analyze the procedure of bankruptcy?

In planning an analysis of the bankruptcy (both the own and the bankruptcy of the debtor), a head of enterprise or a natural entity runs the risk of facing a number of negative consequences, including:

  • the risk of being indebted;
  • the risk of challenging transactions with friendly persons/lenders;
  • the risk of compensation for losses;
  • the risk of being prosecuted subsidiary for the debts of a company;
  • the risk of being prosecuted.

It is necessary to conduct a pre-bankruptcy audit to draw up a detailed roadmap for the upcoming bankruptcy procedure, assess the presence/absence of risks of being prosecuted, identify suspicious transactions at the stage of preparation, and leveling the possibility of particular risk. During the analysis of the bankruptcy of the organization, the following will be analyzed: the existing property, the obligations of a potential bankrupt, the presence / absence of suspicious transactions, with an assessment of the possibility of their potential challenge, the risk of subsidiary prosecution of the head, etc. The result of the work is a conclusion, where a complete roadmap for your bankruptcy has been drawn up with minimization of potential risks and a list of recommendations. Perhaps, in the analysis of the bankruptcy of the enterprise, we will come to the conclusion that it is necessary to delay the upcoming bankruptcy and a debt restructuring plan will be developed, etc.

Each situation is individual, and the specialists of the Tsentralny Okrug Law Firm will make the most objective picture of the upcoming bankruptcy with recommendations for conducting the procedure as efficiently and painlessly as possible.

Why do you need a Due Diligence of the procedure of bankruptcy?

So, you are already a participant in the procedure of bankruptcy: as a debtor, a creditor. The arbitral receiver has a great responsibility, but the court does not always have the opportunity to properly assess his work. It is up to the arbitral receiver to determine whether the bankruptcy is intentional or fictitious, as well as whether all claims of creditors are justified. He draws up reports, controls the distribution of funds, and submits petitions. Invariably, sooner or later, you are going to have some questions:

  • How to check what if the arbitral receiver is violating the law?
  • Have all assets/liabilities been identified?
  • Have all transactions been challenged? And is everything in okay?
  • Does the arbitral receiver violate the rights of the debtor and his family members?
  • Does the arbitral receiver conclude agreement with the debtor?
  • Is there a need to replace the arbitral receiver?

So to get answers to all the questions above, Due diligence of the bankruptcy procedure should be carried out. All the activities carried out as part of audit are analyzed in bankruptcy, starting from the first meeting of creditors to selling the debtor's property at auction and distributing the funds received among creditors. Also, during the audit, an analysis of the activities of the arbitral receiver is carried out with the identification of the mistakes and violations made, and issuing recommendations for a proper response to the established violations. At first sight complicated, the procedure of bankruptcy is subject to the established procedure, the algorithm of actions. Specialists of the Tsentralny Okrug Law Firm will help identify mistakes and violations, as well as they give useful recommendations for their elimination.

Advantages of working with the Tsentralny Okrug Law Firm:

The Tsentralny Okrug Law Firm offers a range of services for pre-bankruptcy audit and Due Diligence of the procedure of bankruptcy. Lawyers of the Tsentralny Okrug Law Firm have been working on the preparation and support of bankruptcy procedures for legal and natural entities for more than 15 years. Deep knowledge of the processes in the bankruptcy procedure, many years of judicial work, as well as extensive experience of cooperation with arbitral receivers, allow the lawyers of the Tsentralny Okrug Law Firm to identify violations in the procedures of bankruptcy and eliminate them promptly and potential risks and minimize them

Author is Oleg Grinev

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