The terms of the reorganization plan approved by the court provide for repayment of creditors’ claims, in particular, may include repayment of claims of the initiating creditor, by obtaining funds from the debtor’s activities, collection of receivables and other measures. In this case, the opening of bankruptcy proceedings will lead to the inability of the debtor to comply with the approved rehabilitation plan, which, in turn, will upset the balance of public and private interests of creditors, whose claims must be repaid in accordance with the court approved rehabilitation plan.
According to the bankruptcy law, if the proceedings are opened at the request of the creditor, the commercial court checks the debtor’s ability to fulfill property obligations, which have expired. In turn, the debtor can provide proof of ability to meet its obligations and repay the debt.
The rehabilitation plan approved by the court decision, which provides for the repayment of creditors’ claims of the initiating creditor in the case, there is no reason to claim that the debtor is unable to fulfill its obligations and repay the debt. In addition, the terms of repayment of accounts payable specified in the reorganization plan approved by the court decision give grounds to conclude that in this case the debtor has not yet reached the deadline for fulfillment of monetary obligations to the initiating creditor.
Therefore, if there is an approved reorganization plan before the opening of bankruptcy proceedings and which provides for the repayment of the claims of the initiating creditor – the court refuses to open bankruptcy proceedings at the request of the initiating creditor.