Legal encyclopedia. The letter Φ

FINANCIAL RECONSTRUCTION

-procedure of bankruptcy, which is applied to the debtor in order to restore its solvency and repayment of debt in accordance with the schedule of debt repayment.

The debtor has the right, on the basis of the decision of its founders, to apply to the first meeting of creditors or to the arbitration court with a petition for the introduction of FO

The decision to appeal to the first meeting of creditors on the introduction of the financial institution should contain:

1) information on ensuring the debtor's performance of obligations in accordance with the schedule of debt repayment;

2) the proposed term FO and the term of satisfaction of the claims of creditors.

The following shall be attached to the decision:

1) the plan of F. O .;

2) the schedule of debt repayment;

3) the minutes of the general meeting of the founders of the debtor or the decision of the body authorized by the owner of the property of the debtor - unitary enterprise;

4) the list of the founders of the debtor who voted for an appeal to the creditors' meeting with a petition;

5) information on the proposed enforcement of the debtor's obligations in accordance with the schedule of debt repayment in the presence of security;

6) other documents provided for by law.

An application for the introduction of the Financial Institution, upon agreement with the debtor, may be filed by a third party or third parties. It should contain information on the proposed security by a third party or third parties of the debtor's performance of obligations in accordance with the schedule of debt repayment.

FO is introduced by the arbitration court on the basis of the decision of the creditors' meeting at the same time as the approval

Administrative administrator.

At FE, the debtor's management bodies exercise their powers with restrictions established by law. The debtor has no right, without the consent of the administrative manager, to perform legal transactions.

When the debtor repays all claims of creditors that were provided for by the schedule of debt repayment, before the expiration of the term set by the arbitration court, the debtor shall submit a report on the early termination of the financial

Health improvement. Based on the results of the examination of the results of the Law, as well as the complaints of creditors, the arbitral tribunal shall issue one of the immediately enforceable and subject to appeal:

1) on the termination of proceedings in a bankruptcy case - there is no outstanding debt and the complaints of creditors are not substantiated;

2) the refusal to terminate the proceedings in the bankruptcy case - the existence of outstanding debt and the complaints of creditors are substantiated.

Grounds for early termination of F.

ABOUT.:

1) failure to provide an agreement on securing the debtor's obligations in accordance with the schedule for repaying the debt to the arbitration court within the established time limits;

2) repeated or significant violation of the terms of satisfaction of claims of creditors established by the schedule of debt repayment.

At the same time, the administrative manager must convene a meeting of creditors to consider the issue of applying to the arbitration court with an application for early termination of financial recovery, and the debtor is obliged to present to the creditors' meeting a report on the results of the repayment schedule and the financial rehabilitation plan, if any.

Based on the results of the consideration of the report and the conclusion, the meeting of creditors has the right to decide on applying to the court with a petition:

1) introduction of external management;

2) on the recognition of the debtor bankrupt and on the opening of bankruptcy proceedings.

On the basis of the petition, the arbitration tribunal accepts:

1) determination of refusal to satisfy an application if the debtor's performance of creditors 'claims in accordance with the schedule of debt repayment and creditors' complaints is found to be unfounded;

2) the definition of the introduction of external management, if it is possible to restore the solvency of the debtor;

3) the decision to declare the debtor bankrupt and to open a bankruptcy proceeding, if there are no grounds for introducing external management and there are signs of bankruptcy.

Upon termination of the license, the debtor is obliged to present at least one month before the expiry of the deadline

Administrative report on the results of the financial

Health improvement, to which are attached:

1) balance of the debtor as of the last reporting date;

2) a report on the profits and losses of the debtor;

3) documents confirming the repayment of creditors' claims.