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Company / Laws

How is the property in bankruptcy

Question - answer - Legal advice 11.04.2019 at 16:50

Question - answer - Legal advice

The sale is one of the final stages of bankruptcy, which is held in respect of the bankrupt to cover the claims of its creditors. Describe how to implement a property with the bankruptcy of legal entities and individuals. sale of property of the bankrupt within bankruptcy proceedings, it is regulated by Chapter VII of the Federal law from 26.10.2002 № 127 "About an inconsistency (bankruptcy)" (FZ № 127). Implementation of bankrupt citizens is regulated in Chapter X of this law. The arbitration court decision enters receivership (KP). It lasts six months (likely to extend for the same period). The court shall appoint a special bankruptcy (financial) Manager, he organizes and controls the implementation of property and rassredotochit funds that raised in total sales. Before that, the Manager conducts the meeting of creditors, composed their registry, and list of claims.