Preparation of bankruptcy application

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Bankruptcy can be initiated if the debtor is unable to pay its debts to other companies or organizations. He is not solvent, which leads to the inability to pay for services rendered. The bankruptcy procedure requires certain skills and experience. That is why most business owners turn to specialists. If you need professional preparation of a bankruptcy petition, trust the employees of Legal Solution.

Bankruptcy petition: briefly about the main things

A bankruptcy petition is a special document that describes the circumstances that confirm the insolvency of a legal entity/individual. As a rule, it indicates the total amount of debt, all income, assets, and other information related to the company's financial situation.

The document shall be accompanied by:

• proof of payment of the court fee;
• proof of advance payment of remuneration to the insolvency officer;
• proof of sending a copy of the application with the annex to the debtor;
• proof of confirming the existence of creditor claims.

If you are interested in competent preparation of the company for bankruptcy, we recommend that you consult with specialists.

Filing for bankruptcy: what should you be prepared for?

As soon as you file for bankruptcy of your company, many different activities will begin, which not all business owners are ready for. That is why it is necessary to study the peculiarities of this process from «a» to «z».

In bankruptcy, the company's property can be described. This includes:

• funds held in open bank accounts;
• the debtor's available cash savings;
• things of special value;
• shares and securities.

How to file for bankruptcy of an LLC: stages

Many people are interested in how to file for bankruptcy of a legal entity. The procedure is not easy. To declare yourself bankrupt, you need to go through a number of stages:

1. Credit history analysis. It is necessary to carefully analyze the current situation. This allows you to find out if your business is definitely eligible for the procedure.
2. Collection and preparation of documents. After the credit history is analyzed, you should start collecting all the necessary documents. A list of them can be found in the special Code on Bankruptcy Procedure. The papers are submitted to the Economic Court at the place of registration or actual residence. Then you should expect the opening of the proceedings. It involves the involvement of an insolvency officer in the case. After the company's bankruptcy petition is filed, the court must make a decision within 5 business days. Once a bankruptcy case is opened, it can be considered for about 120 days. Then a decision must be made: either restructuring or full repayment of the debt.

Please note: after the procedure is completed and a bankruptcy decision is made, the debts can be repaid in full, and the owner is completely relieved of burdensome loans. Procedure for filing a bankruptcy petition for a legal entity

Documents for the bankruptcy of an LLC can be submitted in person or sent by mail, through the Public Services Portal. If you are an individual entrepreneur, you must publish a notice of intention to declare yourself bankrupt in the Unified Federal Register of Information on the Facts of Activity of Legal Entities in advance, 15 days before filing a bankruptcy petition.

Consult with Legal Solution specialists to learn more.

How to file for bankruptcy of a legal entity: expert assistance

If you are interested in how to start the process of bankruptcy of an LLC, contact the specialists of Legal Solutions. They have extensive experience in this field, which allows them to perform tasks of any level of complexity as quickly and competently as possible.

The main advantages of cooperation with the company are:

• reliability;
• scope and deadlines fixed in the contract;
• individual approach;
• professional solution;
• low cost of services.

Registering the bankruptcy of an LLC with the specialists of Legal Solution will be a profitable cooperation for you. Leave a request on the website to learn more. The contacts are listed on the website.

Application for bankruptcy of a legal entity: financial aspect

The cost of services for preparing a bankruptcy application is calculated on an individual basis. It depends on:

• Term of execution;
• Type of services;
• Level of complexity of the task.

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