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Bankruptcy and liquidation

Liquidation by the decision of the owners
Liquidation by court
Bankruptcy procedures

A legal entity, including AT liquidated in the following cases:

1. the decision of the members (shareholders) or organ of a legal entity authorized by the constituent documents,

2. by a court decision that the Court void the state registration of legal persons;

3. by a court decision on the recognition of a legal person bankrupt.

Liquidation by the decision of the owners

Decisions on the Elimination of AT adopted by the general meeting of shareholders.

When a decision to liquidate Company has no obligations to creditors and its assets distributed among the shareholders according to law.

At the general meeting also adopted a decision on the election of the liquidation committee, adoption of the liquidation and distribution among the shareholders of the assets remaining after satisfaction of creditors.

Since the election of the liquidation committee to pass her powers of the supervisory board and executive body of the JSC. Liquidation balance sheet, drawn up by the liquidation commission, subject to approval by the general meeting.

After deciding on the Elimination of the head of the liquidation commission sends the message to the state registrar and shall publish notice of termination. Further actions are taken aimed at the termination of the company, including: settlement with creditors, check the tax authorities and social security funds, transfer of documents to archival institutions, the destruction of stamps and seals, cancellation of issued shares, the liquidation balance sheet preparation.

After all the necessary procedures to the state registrar submitted documents stipulated by the Law "On state registration of legal entities and natural persons - entrepreneurs" , namely:

  • completed registration card for the state registration of the termination of a legal entity in connection with the liquidation;

  • certificate of state registration of legal persons;

  • original founding documents;

  • act of liquidation committee of the liquidation balance sheet, which was approved by a general meeting;

  • certificate appropriate state tax authority of no outstanding taxes, duties (obligatory payments);

  • Help the Pension Fund of Ukraine's lack of debt;

  • Help relevant social insurance funds of no outstanding

  • help archival institutions, acceptance of documents in accordance with the law are subject to long-term storage.

  • copy of instruction to cancel the registration of shares certified by the SEC.

According to said document the state registrar shall submit to the record EVWs cease SA as a result of its liquidation.

AO Liquidation is completed, and the partnership as being stopped from the date of the specified record.

If elimination is that the company's property is not enough to satisfy creditors' claims, it is liquidated in the manner prescribed by law "On Restoration of Debtor Solvency or Declaration of Bankruptcy."

Liquidation by court

The requirement on the Elimination of society on the basis of the invalidity of its state registration may be presented to the court by the state registrar, a member company and the SEC. When making a court decision to liquidate a legal entity on the basis of invalidity of the state registration of the liquidation commission is appointed. Responsibility for liquidation may be assigned to participants.

Further procedure is the general procedure of liquidation.

Bankruptcy procedures

As for bankruptcy, it is conducted in accordance with the Law "On Restoration of Debtor Solvency or Declaration of Bankruptcy."

Bankruptcy cases violated the commercial court at the request of the creditor or the company itself. Bankruptcy cases are considered on the location of the debtor.

Bankruptcy cases violated indisputable if the lender (creditor) to the debtor together constitute not less than three hundred minimum wages that have not been satisfied by the debtor within three months after a deadline for their repayment.

Violation of bankruptcy does not mean compulsory liquidation. In the process of readjustment procedure can be restored solvency of the debtor and resumed his normal activities.

It is important to note that bankruptcy frequently is the best or even the only way for the company, and opportunity for its members (shareholders) to start a business, first with the creation of new businesses or restoration of existing solvency. In a difficult financial situation should be considered as it would end, but as a way out.

If the company is not enough resources and there are debts, it can not simply wind up - need bankruptcy. In this case should contact the liquidator for professional advice and assistance.

 
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