World Business

Bankruptcy

At bankruptcy except some pluses there are also following minuses:

1. The firm-debtor board – i.e. the representative of the debtor, in various databases remains the person connected with the enterprise till the end of manufacture on bankruptcy.

2. The manufacture course on bankruptcy in many respects depends on personal qualities trustee in bankruptcy , that is from circumstance – whether is had business with the normal healthy person or with simply angered for the whole world and vindictive figure simply angered for the whole world who at the same time is greedy to money. Unfortunately, trustee in bankruptcy such in Estonia about 40 %.

3. Time forecasts it is impossible to give.

Cases happened from one extreme measure to another – manufacture on bankruptcy with total amount of debts of 15 million crones has occupied without 8 months, and bankruptcy with debts of 600 000 crones lasted 9 years, including as the entertaining program interdictions for employment by commercial activity, criminal cases, infinite disputes for court etc. Other examples hold in this interval.

4. The statement about legality of process of bankruptcy is extremely hypocritical. Actually process course is connected only with moods of trustee in bankruptcy. By means of bankruptcy law probably delicately to legalize any reprisal.

5. And if the book-keeping is not in an irreproachable order the situation has especially a high risk. At operating the additional argument arises trustee in bankruptcy to salt to the debtor.

As a result manufacture on the case of bankruptcy is extremely dependent on whims, opinions, mood etc. trustee in bankruptcy and the judge conducting manufacture that leads to extreme subjectivity of all process. At the same time it is impossible to exclude in any way circumstance that manufacture on the case of bankruptcy nevertheless is rather necessary and it is useful.

A question only in for whom? On the essence manufacture on the case of bankruptcy is created for protection of the debtor. We all read articles about the developed countries, where that one other firm asks from court protection in the form of bankruptcy. And to Estonia bankruptcy has turned to the tool with which help operating bankruptcy in cooperation with court try to create to the representative of firm-debtor of probably more troubles. Probably it can be connected first of all with the past of the managing directors which origin frequently causes alarm as many managing directors in a Soviet period could serve except other in ОБХСС or in KGB.

The expenses connected with bankruptcy

1. Drawing up and giving to court of the application for bankruptcy – 2500 crones
2. Compensation of the time bankrupt operating property – from 10 000 to 25 000 crones
3. In a case if it is necessary to protect the positions on court fees to lawyers for disputes, statements and claims are added.

The sum is unpredictable, depends on case.

LIKVIDAATOR