What documents are needed to file for bankruptcy

In post-COVID times, the number of declared bankruptcy cases has increased compared to previous periods. This is due to the difficult situation in the market after the pandemic. According to official sources, about 60% of bankruptcies are accounted for by organizations involved in trade, construction and real estate transactions. But this does not mean that other industries are out of the risk zone.

The bankruptcy procedure is prescribed step by step in the legislation. In order for it to pass and end successfully, it is necessary to comply with a number of requirements fixed in 127-ФЗ "On Insolvency (Bankruptcy)".

Bankruptcy can be initiated by the CEO of the company himself.

To start the bankruptcy procedure of a legal entity, it is necessary to draw up an application and send it to the arbitration court.

The application must describe the entire current financial condition of the organization - a list of all assets of the company, a list of all creditors, the amount of debts to each creditor, the amount of unpaid salaries, the amount of remuneration of the arbitration manager and other overdue payments, including mandatory.

The application must be accompanied by all documents confirming all the debts listed in the application, as well as an extract from the Unified State Register of Legal Entities, the charter of the legal entity, the balance sheet for the last three years and receipts for payment of the state fee.

Legal entity bankruptcy support is a process that requires the painstaking collection of all necessary documents and the study of individual circumstances in each specific case. On average, the procedure itself takes about a year.

Deciding to file for bankruptcy on your own, you may face many difficulties, from filing an application to declaring the company bankrupt.

Therefore, we recommend that you immediately contact a specialist.

Law Firm “PARITET” employs highly qualified lawyers with extensive experience in cases related to the bankruptcy of legal entities. Working with us, you will receive an individual approach to each situation.