What is a bankruptcy of enterprises?

Bankruptcy (economic insolvency) - a concept that frightens all businessmen, and for the most part in vain. Bankruptcy of the enterprise is often the best way out of an awkward location, which turned out to be a business.

Let's look at the order of what bankruptcy LLC or entity, why it is necessary and how to spend it with the maximum benefit and minimum losses for themselves.

So, bankruptcy organization - its inability to meet its obligations to the lender, ie return on investment.

Objectives of bankruptcy
A bankruptcy involves a complete write-off of its debts and the exclusion from the USR of legal entities and individual entrepreneurs. This is the cherished goal of any businessman caught in a state of insolvency.
In order to achieve the desired goal it is necessary to take into account legal requirements, experience and practice of professionals in the field of liquidation and bankruptcy.

How and when there is a failure of organization
Bankruptcy of the enterprise occurs in a number of internal and external factors that influence the activity of any business entity - not from the effective management of the enterprise to "strict conditions of business climate" in our country.

The main feature of bankruptcy is the inability to settle with creditors on various debts. This may be payable:

to employees on wages
to the budget on obligatory payments, penalties, interest (current accrued or Sought after inspections and court decisions)
to banks for loans secured by a pledge
before other creditors for obligations arising in the course of economic activity and other debt.
Regardless of the type of debt - if the assets of your company can not cover the amount of his debt - you are bankrupt.

Methods and types of bankruptcy
Bankruptcy of the enterprise can be accomplished in two ways - either voluntarily or forcibly.

It is voluntary, initiated by the debtor itself, the Manager elected from among candidates proposed to them. This method is the most favorable and least risky for the owner.

It is compulsory, initiated by the lender, the Manager elected from among candidates proposed to them. This method is the least favorable and most risky for the owner.

Only on your timely action depends, in what way and with what consequences will take your company's bankruptcy.

How not to miss the point of bankruptcy?
Regardless of the type of debt - if its total amount can not be satisfied due to the total value of assets of the company - you are bankrupt.

But how the founder becomes aware of solvency of its business? After all, it is usually not personally involved in financial and economic activity does not lead accounting, and hires for this director and accountant.

In this situation, the law imposes a duty approved by the owner of the annual balance. It was at this point (formally) the founders to become aware of the bankruptcy of the company.

The legislation establishes a period of one month from the date of signing of the annual balance sheet for the study of the owner of the company's financial condition.
Founders, by reference to the annual balance sheet is necessary to study the company's solvency ratios, and if they have a negative value to take immediate response.

What obligations come from the owner after the establishment of signs of bankruptcy of his company?
Within 1 month from the date of signing of the annual balance you (the owner) is obliged to take measures to pre-trial financial health of the enterprise, and in the event of his inability or is not appropriate - decided to apply to the court.

In case of insolvency, and there is no possibility of financial recovery (repayment of debts due to the personal funds and external sources) you are required within one month from the date of signing of the annual balance sheet to apply to the court.

This regulation is binding, as it guarantees the owner further protection from foreclosure payable on his private property (vicarious liability). Namely, payables arising from the time when the owner became aware of the company's insolvency. The Ones. further than the owner delays the decision, the greater the amount of vicarious liability it is threatened.

Thus, in order to minimize the negative consequences of insolvency - need timely decision on its liquidation.

We urge you to carefully monitor the state of the company's debts in the event of insolvency - contact the professionals.

What are the advantages and disadvantages of bankruptcy?
Bankruptcy of the enterprise is not its collapse, as it seems most entrepreneurs, it is a natural part of the life cycle of the organization. The phases of the origin, formation, lifting the company is required to follow the recession and crisis. During the last stage can be introduced anti-crisis measures, but if it is clear that the company has settled, it is worth considering on its liquidation. Most legal way to liquidate the entity with the recognition of its debt maturity - is bankrupt organization.

Bankruptcy Ltd., PUE, SP, legal entities can be considered as health treatments that will prevent the company from large debts, or as a way to repay the debt. With professional and skillful conduct of the procedure, the organization can quite legally avoid liability, both criminal and administrative, for failing to pay the debts.

In any case, the bankruptcy of the organization will help you to focus on new business, not trying to save the old unprofitable.

The disadvantages include the duration of the procedure and its complexity. In some cases, litigation can drag on for years.

If the court decides that the blame solely the owner of the company, he'll have to pay for the debts of their own property.

Why should we trust?
To perform this procedure successfully, you need professional support of this process, legal advice on bankruptcy from http://mybkhelp.com will help a lot. Not all companies offering this service, carry out its quality because of its complexity and lack of expertise of staff. Therefore, you should choose a firm that specializes in complex professional conduct of the bankruptcy legal persons, organizations or enterprises LLC. By doing this you will save yourself from problems and unnecessary expenses.

We have 6 years of age are engaged in bankruptcy procedures:

conscientiously and professionally.
with minimal risk for you.
according to your wishes and interests.
in full compliance with the law.
with minimum cost to you.
for the shortest possible time.
Trust the professionals, and we'll go along with you all the stages of this process, to reduce to a minimum your losses and help you tune in to the new wave of successful business ventures. Cooperation with us will convince you that the bankruptcy of the company - it is not crash, but the beginning of a new path.