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Bankruptcy

Bankruptcy

    • Bankruptcy Support Regarding a Debtor
    • Challenging Transfer of Assets and Debtor’s Deals
    • Analysis of Economic and Business Activities of a Debtor to Uncover Bankruptcy Fraud (Deliberate Bankruptcy)
    • Appeal to Law Enforcement Authorities, Initiation of Criminal Proceedings for Bankruptcy Fraud
    • Listing a Creditor
    • Legal Representation in the Meeting of Creditors
    • Bankruptcy Proceedings Support
    • Representation of Creditor's Interests in a Bankruptcy Proceeding
    • Legal Support of Insolvency Practitioners
    • Legal Support of Liquidation

    What exactly is bankruptcy, and why do people go for it? The Russian law provides that bankruptcy is the inability of a debtor, as established by the Arbitration Court, to pay debts fully and (or) to fulfil the liabilities regarding the payment of obligatory payments. To put simply, a person is bankrupt when they cannot repay the debts, and the Court states this. 

    The bankruptcy means proportional satisfaction of all creditors’ claims, while a debtor after he has paid everything that he was able to be declared insolvent and subject to liquidation. 
    Bankruptcy proceedings can be the best way to move forward for both a debtor and a creditor. A debtor terminates his business legally while a creditor seeks for debtor’s assets to satisfy his claims.

    It should also be noted that in case a debtor is engaged in fraudulent transfer (e.g. sell his property to affiliated persons), creditors are entitled to challenge these transactions. 


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