The law of Ukraine, which is recognized as a quarantine force majeure, does not resolve all issues related to the termination of monetary obligations that have expired.
The current legislation provides for subsidiary liability of the head (bodies of management) of the enterprise, owners (founders) for failure to meet the creditors’ requirements.
In case of bankruptcy of the debtor due to the fault of its founders (participants, shareholders) or other persons, including the fault of the debtor’s head, who have the right to give obligatory instructions to the debtor or are able to determine its actions in another way, to the founders (participants, shareholders) ) the debtor – legal entity or other persons, in case of insufficient property of the debtor, can be held subsidiary responsibility for its obligations.
The debtor is obliged to apply to the commercial court within a month to file a statement on the opening of proceedings in the case if the satisfaction of the claims of one or more creditors will make it impossible to fulfill the debtor’s monetary obligations in full before other creditors (threat of insolvency). If the debtor’s head violates these requirements, he is jointly and severally liable for failure to meet the creditors’ claims.
With the opening of bankruptcy proceedings, a moratorium on satisfaction of creditors’ claims is introduced at the same time, as indicated in the resolution of the economic court. The decree is the basis for the suspension of enforcement actions.
A moratorium on satisfaction of creditors ‘claims is the suspension of the debtor’s fulfillment of monetary obligations and obligations to pay taxes and fees (obligatory payments), the term of which has come to an end before the moratorium is imposed, and the termination of measures aimed at ensuring the fulfillment of these obligations.’ taxes and fees (mandatory payments) applied prior to the moratorium.
Following the abolition of the quarantine and resumption of effective entrepreneurial activity, the current legislation provides for the possibility of withdrawal from bankruptcy at any stage (disposal of property, rehabilitation).
Arbitration Manager, Revealing Information Lawyer – Igor Golovachev.
Address: Kyiv, str. 25a Degtyarevskaya St., building L.
Phones: +38095 868 35 90
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