Services /Bankruptcy

If you need to start the process of liquidation of an enterprise, our professional specialists of Partner’s Group of Companies through the bankruptcy procedure will help you to cope with this task within the shortest time and at the lowest cost.

The bankruptcy of enterprises in Ukraine is regulated by the Law of Ukraine “On Restoring Debtor Solvency Or Declaring a Debtor Bankrupt”, the Law of Ukraine “On Enforcement Proceedings”, Commercial Procedural Code of Ukraine, Civil and Economic Codes of Ukraine and other regulatory legal acts.

According to the Ukrainian legislation, the definition of bankruptcy is applied to those enterprises that are recognized by the Economic court as insolvent and as those which can not satisfy the creditors’ claims.

The procedure of bankruptcy can be divided into several important stages.

At the first stage it is necessary to determine the degree of necessity of introducing such a procedure and to conduct financial and legal analysis of the structure of the enterprise to determine the bankruptcy plan, in case of inevitability of the procedure. This stage as a rule takes up to a month, depending on the size of the company-bankrupt. In addition, at this stage the bankruptcy procedure may be finished. The plan of the bankruptcy of the enterprise must include a list of organizational, economic, financial, legal, technical measures that will be directed to the fulfillment of the assigned task.

At the second stage, the bankruptcy plan itself is already implemented and its strategy is as follows:

1. Initiation of bankruptcy proceedings and appointment of an arbitration administrator, the introduction of a moratorium on the satisfaction of creditors’ claims, the inability to enforce a debt that arose before the initiation of bankruptcy proceedings.
2. Publication in the official press organ.
3. Submission of a statement of creditors about their requirements within 30 days. Requirements, which are unclaimed within the time periods established by law, are deemed to be paid.
4. Formation of the register of creditors’ claims.
5. Approval of the Register of Claims of Creditors by the court.
6. Convening of general meeting of creditors and creation of the committee of creditors.
7. The decision of the creditors’ committee on the further procedure – business rescue, liquidation or amicable agreement.
8. The further course of the bankruptcy procedure depending on the decision taken.

In addition to these regulatory enactments, the bankruptcy procedure is regulated by large quantity of legislative acts, extensive judicial practice, which are extremely difficult to understand for a layman. That is why we work with a team of professionals, including arbitration managers with relevant certificates, commodity market, law firm, auditors, and lawyers.

We have successful experience in conducting bankruptcy procedures both for small business and large network of wholesale and retail companies.

It is Partner’s Group of Companies that will help you to conduct bankruptcy procedure, will provide a full range of services and necessary specialists in this sphere! The procedure of the bankruptcy of an enterprise with the help of our experts will save you from a plenty of problems that may arise if you conduct it on your own. It will help you to avoid significant financial losses, save your time and energy.