How to declare yourself bankrupt - is this an easy task?

It would seem that it can be easier than declaring yourself or your legal entity as such an economic object that can not conduct economic activity? However, in practice, it is rather difficult to implement this procedure correctly. Therefore, the question of how to declare itself bankrupt requires detailed consideration.

The fact is that the legislator introduced a complicated legal procedure to protect the people who are carrying out economic activities with bankrupt from abuse.

For example, a firm (a legal entity) has in time gained a lot of debts, and in order not to pay money, formalizes the bankruptcy of the debtor. Or the careless entrepreneur decided that he was enough, and closes the case.

How to declare yourself bankrupt, observing all the subtleties of the law

First of all, it is necessary to understand whether a legal entity falls under the concept of bankruptcy, which is connected with the inability to execute creditors' applications or continue their economic activities. The final decision is made by the arbitration court, and only it.

Step 1

To begin the procedure, an application must be submitted to the arbitration court. It is brought by a representative of a legal entity (in the case of an entrepreneur an application is submitted to them personally) or a creditor. By the way, in order for a court to accept a creditor's application, a legal entity owes it at least 100,000 rubles, while "promising" for more than three months.

Pay attention: the law determines which payments or debts are not considered as grounds for bankruptcy. Therefore, in any case, legal assistance is needed.

The application shall contain information on:

- amounts that creditors want to receive;

- money that by law can not be counted as sources of satisfaction of creditors' requests;

- amounts required to pay off tax liabilities;

- amounts that a bankrupt can reasonably pay will not be able to pay;

- court cases (if any) in which a legal entity participates;

- numbers of bank accounts;

- the desired candidate for the office of the arbitration administrator (the person who will divide the property for all creditors).

Also provides full information about all assets, cash accounts, etc.

Step 2

Within five days a decision is made - after the arbitration court has studied all the materials. Bankruptcy as a legal mechanism is considered neglected.

However, one must bear in mind that the court can refuse to consider the case if it decides that there are no special grounds.

Step 3

In the interval between 15 and 30 days after filing the application will be considered at the court session. Actually, it can be considered a moment of truth in solving the difficult question of how to declare itself bankrupt. After all, without a corresponding decision, which is taken by the arbitration court, bankruptcy does not make sense.

Step 4

The division of property according to the intentions of the arbitration administrator (which is approved by the same court), the "closing" of all debts and the formalization of documentary confirmation of the liquidation of an enterprise or termination of business activities.

Is it worth it?

Bankruptcy is a complicated and often very lengthy legal procedure. In addition, fictitious bankruptcy is subject to sanctions, up to the opening of a criminal case.

Therefore, you need to think three times and consult with a competent lawyer before deciding how to declare yourself bankrupt, and bring an application to the court.