Bankruptcy of absent or liquidated debtor and simplified bankruptcy procedures
In order to quickly exclude property of companies which actually stopped working from economic turnover so-called simplified bankruptcy procedures are applied. They also can be applied to remove assets of company which undergoes liquidation procedure or whose location cannot be determined.
To simplify the process of declaring a company insolvent, reduced duration of its conduction is applied. This ensures more favorable conditions for the parties of bankruptcy relationship.
Legal entity’s bankruptcy in simplified manner has following advantages:
- there is only one stage – bankruptcy proceeding;
- reduced terms: from 6 to 9 months, whereas the normal bankruptcy process usually takes more than a year;
- deadline for closing register of creditors’ claims is 1 month instead of two in normal bankruptcy procedure;
- economy of money.
Thus, simplified bankruptcy procedure can be applied in two following case: when debtor is at the stage of liquidation and when debtor is not present at all, so it is impossible to determine its location. Such procedure helps to get rid of accumulated debts in relatively short period and with minimal costs.
VALEN specialists are highly experienced in the field of conducting bankruptcy procedure and can provide following services:
- determine whether simplified bankruptcy procedure is suitable for you as a debtor;
- conduct all activities under simplified bankruptcy;
- provide consultation to creditor on issues related to insolvency of absent or liquidated debtor and draw up a debt repayment plan.
Two degrees in Lomonosov Moscow State University. Faculties of Law and Philology.
1996 – obtained status of attorney
Foreign Languages: English
Specialist in the field of legal representation, corporate conflict resolution, structuring and support of transactions for the acquisition of business, as well as defense / representation in the framework of criminal prosecution
1994 – has written more than 150 publications in the Russian newspapers and magazines
Since 2019 – Senior Lawyer at VALENOur specialists
Law degree in Lomonosov Moscow State University, 2014
Postgraduate education diploma in Institute of Legislation and Comparative Law under the Government of the Russian Federation, 2017
Foreign Languages: English, German, Spanish, Portuguese
Since 2014 – practice in obtaining and collecting of low liquid debts, in bankruptcy procedures of legal entities and litigation in commercial and regular courts
Since 2020 – lawyer at VALENOur specialists