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.