При несостоятельности юридического лица its forced liquidation is made. All entities that provided funds or assets to a bankrupt company may declare their claims. To do this, each of them should write a statement of the creditor to be included in the register of creditors. The article discusses the bankruptcy procedure and the observance of the principle of priority when demanding the return of money invested in the company.
What is the priority in involuntary liquidation?
Termination of a legal entity can occur in two ways:
- voluntarily;
- forcibly.
The second way actually means that the company went bankrupt.
Most active organizationsthere are current debts that first arise and then are repaid as funds arrive. If for some reason the owners of the business, which are the founders, decide to voluntarily cease the activities of the company, then they liquidate themselves in the liquidation process. In such circumstances, the sequence of payment of debts set by the founders themselves.
The situation changes when a legal entity is declared insolvent by an arbitration court. With this kind of liquidation, the law determines the priority of debt payment. It essentially means the following:
- Requirements will be satisfied only in the order established by law.
- The powers in the course of the competitive process will be divided between the creditors.
Features of the procedure
The priority of satisfying creditors' claims is established only for those persons whose details are included in the register. The law divides lenders into two categories:
A) Current, not participating in bankruptcy.These include persons who filed claims prior to the commencement of the procedure or whose claims are included in the list of mandatory payments, even if they are submitted after the filing of the insolvency petition (FTS). They are not included in the register of creditors.
B) Lenders involved in bankruptcy, of which the queue is made for satisfaction of claims (issued a statement by the creditor to be included in the register of creditors).
General principles of priority
Movement in the queue of creditors is strictly regulated by law. The key points are:
- The arbitration court establishes the size of the queue and its participants.
- Within one queue (for example, the second) the creditor’s claim is satisfied in a calendar sequence. There is no priority inside.
- The satisfaction of the obligations is made aftertermination of settlements with creditors of a higher priority. This rate, however, has one exception. If the obligations of any creditor are secured by collateral, they can be satisfied immediately after the sale. If such liabilities cannot be satisfied at the expense of collateral assets, the creditor will have to wait for the fourth turn.
- If the property is not enough, then within one queue each creditor will receive an amount proportional to the requirements entered in the register.
The liquidation commission through the arbitration court can settle the claims if:
- the debtor did not have enough property to meet all requirements;
- the liquidation commission did not recognize the claims of the creditor due to a court decision, which was denied his satisfaction;
- the liquidation commission did not recognize the claims of the creditor due to the fact that the latter did not go to court.
How is the order of current payments?
Current payments are repaid in the first place, they do not require the application of the creditor to be included in the register of creditors. However, there will have to wait. The first stage consists of:
- remuneration of the bankruptcy trustee;
- court costs of bankruptcy proceedings;
- payment of other persons involved in bankruptcy proceedings.
The second stage includes:
- remuneration of persons working under labor contracts;
- remuneration of persons involved in the case by a bankruptcy trustee.
The third stage includes requirements formed from payments of utility and operational nature.
The fourth installment includes the remaining payments of the current nature.
How is the queue formed for payments?
The priority of meeting the requirements of creditors is formed as follows.
The first stage includes:
- the claims of those persons whose health and lives were harmed (the debtor is obliged to compensate for moral damage);
- claims for compensation for the harm that has arisen due to violation of safety rules during construction and operation of a building, due to damage or destruction of an object, etc.
The second queue contains:
- labor remuneration to persons working under an employment contract who are entitled to severance pay or remuneration for intellectual work.
The third queue contains:
- Mandatory payments (taxes, excise taxes) and payments to extra-budgetary funds.
Finally, the fourth turn includes all other lenders.
How is the registry formed?
Application of the creditor for inclusion in the registercreditors may be filed within two months after the declaration of the debtor bankrupt. Each appeal must be accompanied by supporting documents, which reflect the value of the debt with penalties and fines. They are considered by the bankruptcy trustee.
If you want to get into the register of creditors samplestatements can be made on the basis of a claim to arbitration. It is recommended to state consistently all the circumstances of the debt. If the creditor is not included in the register, he has the right to appeal to arbitration with a complaint against the actions of the liquidators.
Список ведет реестродержатель, который выполняет, in fact, technical work, only fixing the information received from the manager. This includes information about each creditor, information about the size of the obligations and the basis of their occurrence, as well as the turn of the applicant.
After two months is closedregistry of lenders. Russian legislation, however, does not provide for the possibility of extending this period, no matter what good reasons are given.
The final stage
Settlements with creditors are made by the bankruptcy commissioner on the basis of the list of such persons formed. When funds are received, all debts are paid in strict accordance with the sequence.
If the money is not transferred to the creditorpossible, then use the deposit of the notary, which is located at the location of the lender. If the funds are not demanded for three years, they will go to the federal budget.
