Lawyer, Head of Judicial Practice of NOBILI Law Firm Meshe Oleksiy

How to prepare a statement on the opening of bankruptcy proceedings?

An application for the opening of bankruptcy proceedings may be filed by a creditor or a debtor. Such an application is prepared in writing and submitted to the commercial court at the location of the debtor.

The applicant should keep in mind that the application must comply with the Bankruptcy Procedure Code of Ukraine and the Commercial Procedure Code of Ukraine.

The application must specify: the name of the commercial court; name of the debtor (location, identification code, contact details and means of communication); name (name) of the creditor (location (residence), identification code (RNOKPP), contact details and means of communication); a statement of the circumstances that are the basis for the application; information on the amount of the creditor’s claims against the debtor, indicating separately the amount of the penalty (fine, penalty) to be paid. a list of documents that must be duly certified and which differ depending on the applicant.

 

If the application is submitted by a creditor, it is accompanied by:

1. Receipt or payment order for payment of court fees.
2. Receipt or payment order for advance payment of remuneration to the arbitration trustee of 3 minimum wages for 3 months.
3. Proposal of the candidate of the administrator of property (if available).
4. Power of attorney or other document, if the application is signed by a representative.
5. Description to the valuable letter and postal consignment note on sending the debtor a copy of the application and the documents attached to it.

A creditor’s application may be based on the debtor’s combined debt for the sum of its various obligations to that creditor. Creditors also have the right to combine their claims against the debtor and go to court with one joint application. This statement is signed by all creditors who have joined their claims against the debtor.

 

If the application is submitted by the debtor, it is accompanied by:

1. Receipt or payment order for payment of court fees.
2. Receipt or payment order for advance payment of remuneration to the arbitration trustee of 3 minimum wages for 3 months.
3. Evidence of insolvency.
4. Constituent documents.
5. Balance sheet as of the last reporting date.
6. List of creditors whose claims are recognized, indicating the total amount of monetary claims of all creditors, as well as for each creditor.
7. List of property indicating its book value and location, as well as the total book value of the property.
8. A list of persons who have unfulfilled obligations to the debtor, indicating the value of such obligations, the term of performance and the grounds.
9. Information on all accounts in depository institutions opened with banks and other financial institutions, their details.
10. Information on all accounts on which the rights to securities belonging to the debtor are recorded, their details.
11. Minutes of the general meeting (conference) of the debtor’s employees, the relevant decision of the debtor’s primary trade union organization on the election of a representative of the debtor’s employees to participate in the case (if such meeting (conference) took place before filing an application to the commercial court).
12. The decision of the governing body to appeal to the commercial court with a statement to open proceedings.
13. Power of attorney or other document, if the application is signed by a representative.
14. Other documents confirming insolvency.

The debtor is obliged to apply to the court within a month if the satisfaction of the claims of one or more creditors will lead to the impossibility of fulfilling the debtor’s monetary obligations in full to other creditors (threat of insolvency).

After submitting the application, the commercial court accepts such an application and issues a decision indicating the date of the preparatory meeting of the court.