Debtor's statement on the application of the accelerated rehabilitation procedure

Jurisdiction.

In accordance with paragraph 1 of Article 27 of the CPC, which regulates the jurisdiction of civil cases to specialized courts, bankruptcy cases of individual entrepreneurs and legal entities and rehabilitation of legal entities are under the jurisdiction of specialized interdistrict economic courts. According to the requirements of Article 29 of the CPC, claims are filed in court at the location of the debtor, a legal entity.

The circle of persons involved in the case.

The applicant (debtor) is a legal entity that is a commercial organization, which, if it is possible to restore solvency and prevent the occurrence of insolvency, has the right to apply to the court for an accelerated rehabilitation procedure.

The defendant is not provided for.

Creditors are creditors belonging to the group (groups) of homogeneous creditors included in the rehabilitation plan.

The Creditors' Committee is a representative body of creditors elected by the creditors' meeting in rehabilitation and bankruptcy proceedings.

The authorized body is a state body that carries out state regulation in the field of rehabilitation and bankruptcy.

When considering a dispute on appealing its decision to include the creditor's claims in the register of creditors' claims, the court issues a ruling on replacing the defendant with a bankruptcy trustee, whose authority includes maintaining the register of creditors' claims.

Circumstances to be established for the proper consideration and resolution of the case.

When considering cases in this category, courts should establish:

- is there a decision by the debtor (the owner of the property, the body authorized by him, the founders, participants) to apply to the court for the application of accelerated rehabilitation;

- the validity of the debtor's conclusion about his insolvency;

- is there a possibility of restoring the debtor's solvency;

- whether there are minutes of the meeting and (or) written confirmation of the approval of the rehabilitation plan by creditors whose claims amount to more than fifty percent of the total claims of each group (groups) of homogeneous creditors included in the rehabilitation plan.

Accelerated rehabilitation procedure is a procedure applied to a debtor in court on the basis of a rehabilitation plan agreed upon with creditors in a pre–trial manner. Rehabilitation (accelerated rehabilitation) procedures are not applied to individual entrepreneurs and peasant (farm) farms. It should be noted that only the debtor has the right to apply for an accelerated rehabilitation procedure. An accelerated rehabilitation procedure is applied if the following conditions are met simultaneously: no rehabilitation or bankruptcy proceedings have been initiated against the debtor; the debtor is a commercial organization; the debtor is insolvent or will not be able to fulfill monetary obligations when they become due in the next twelve months.

The accelerated rehabilitation procedure does not apply to the debtor for the claims of citizens to whom the debtor is responsible for causing harm to life or health; for remuneration and compensation to persons who worked under an employment contract; for payment of arrears in social contributions to the State Social Insurance Fund, mandatory pension contributions and mandatory professional pension contributions, remuneration under copyright agreements, as well as taxes and other mandatory payments to the budget. In the case of an accelerated rehabilitation procedure, a rehabilitation plan is drawn up by the applicant (debtor) and submitted to the court simultaneously with the application for the application of an accelerated rehabilitation procedure, this plan is approved by the court when making a decision on the application of an accelerated rehabilitation procedure. No register of creditors' claims is formed during the accelerated rehabilitation procedure.

The basis for applying to the court for declaring the debtor bankrupt is his insolvency in the absence of the possibility of restoring solvency. The basis for applying for a rehabilitation procedure is his insolvency or the threat of insolvency, when the debtor will not be able to fulfill monetary obligations when they become due in the next twelve months, if there is a possibility of restoring solvency.

The threat of the debtor's insolvency should be understood as a state of his solvency, when in the near future he may be unable to fully satisfy creditors' claims for monetary obligations.    

The possibility of restoring the debtor's solvency should be understood as the existence of a set of interrelated real measures aimed at improving the debtor's financial activities and carried out on the basis of mutual agreement between the debtor and creditors, a group of homogeneous creditors.

To apply an accelerated rehabilitation procedure, two signs must be present simultaneously: 1) the debtor's insolvency or the threat of his insolvency; 2) the real possibility of restoring his solvency.

At the request of the owner of the debtor's property (his authorized body), the founders (participants), on the basis of a decision of the creditors' meeting, the court has the right to retain the right to manage the debtor's property and affairs from the moment of approval of the rehabilitation plan for the owner of the debtor's property, his authorized body, the founders (participants).

In cases of non-fulfillment of the repayment schedule for accounts payable within a period of more than three months and (or) detection of violations of the Law "On Rehabilitation and Bankruptcy", including violations identified by the authorized body, the owner of the debtor's property, the founders (participants), who retain the right to manage the debtor's property and affairs, are removed from management by the court. Such removal is carried out at the request of a person authorized by the creditors' meeting within fifteen calendar days from the date of receipt of the application.

The list of the main documents attached to the statement of claim

In accordance with the requirements of Article 149 of the CPC, including documents confirming the circumstances on which the applicant bases his claims.:

- documents confirming his insolvency;

- contracts, reconciliation reports, debt repayment schedules concluded with all counterparties;

- a list of creditors indicating the amount of debt (principal, penalties and fines), the date of its formation and broken down by groups of homogeneous creditors;

- information about the obligations of the debtor, the deadline for which has not arrived;

- calculation of all accounts receivable, indicating the date of their occurrence, the name of each debtor, with a breakdown of the principal debt, penalties and fines;

- a list of movable and immovable property with an indication of their book value, whether they are pledged, leased and (or) leased;

- information about money held in bank accounts, account numbers and location of banks;

- the decision of the debtor's body (the owner of the property, the body authorized by him, the founders, participants) to apply to the court for the application of this procedure;

- rehabilitation plan agreed with creditors;

- minutes of the meeting and (or) written confirmation of the approval of the rehabilitation plan by creditors whose claims amount to more than fifty percent of the total claims of each group (groups) of homogeneous creditors included in the rehabilitation plan;

- the debtor's written obligation to disclose to creditors the information necessary for decision-making;

- the debtor's obligation that creditors belonging to groups of homogeneous creditors not included in the rehabilitation plan will receive the payments due as part of normal business operations and the submitted rehabilitation plan does not change or affect their rights;

- information on claims against the debtor accepted for production by the courts, as well as claims submitted for undisputed write-off;

- the debtor, who is a participant in state support measures, additionally submits a document confirming the status of a participant in such measures.

Laws to be applied in the consideration and resolution of cases

The Constitution.

GC (General part, Special part).

GPC.

The Business Code.

The Tax Code.

The Law of March 7, 2014 No. 176-V "On Rehabilitation and Bankruptcy".

Regulatory Resolution of the Supreme Court of October 2, 2015 No. 5 "On the practice of applying legislation on rehabilitation and bankruptcy"

 

 

 

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