In the process of doing business, companies often need borrowed funds, which is why they often turn to banking institutions for loans. In addition, a large number of payments are required to be paid monthly. They are represented by taxes, contributions to the PF and the Federal Tax Service for employees, employees' salaries, as well as payments for goods received from suppliers. The work of organizations is not always profitable, therefore, it is likely that the company will not receive profit from activities. This leads to the formation of debts that cannot be repaid due to the lack of cash receipts. Therefore, the liquidation of the company with debts. The procedure can be performed in different ways, but most often in such a situation, the company is declared bankrupt.
Is it possible to close a company with debts?
Debts can arise for various reasons. Most often, companies owe money to their suppliers, counterparties, tax service and employees. If the organization has no profit, then it will not be able to pay off the debt.
The liquidation of firms with debts is most often implemented in a forced manner, therefore, usually for this the bankruptcy procedure begins. As part of this process, all property belonging to the organization is sold, and the funds received from this are sent to creditors. Debt to individuals and the state is initially repaid, and only then funds are sent to counterparties and suppliers.
Who can act as a creditor?
Liquidation of a company with debts on loans, taxes or other payments can be carried out at any time. The following persons and organizations may act as creditors:
- citizens who have been harmed by the company through various actions, therefore compensation is required;
- company employees who for a long time did not receive salaries and bonuses, as the company simply did not have a profit that could be used for these purposes;
- the state, if the company did not pay taxes on time, moreover, such debt must be repaid without fail, for which bankruptcy proceedings are often carried out in the framework of bankruptcy proceedings;
- government funds, credit institutions, founders, or business partners.
Initially, debts to individuals are paid off, after which the money goes to pay off tax arrears. Only after this, if any funds remain, debts to other creditors will be repaid.
The liquidation of firms with debts is considered a complex, lengthy and specific process, implemented in the correct sequence of actions. The company closes completely only after entering the relevant information in the register.
The founders of enterprises are not liable for the debts of the company with their personal property, if the debt does not exceed 300 thousand rubles. Liquidation of a company with a debt of less than 100,000 rubles. considered a simplified process for owners of this business. They may not worry that they will have to sell their values to pay off debt.
If the debt exceeds 300 thousand rubles, then the creditors have the right to sue the founders, who are brought to subsidiary liability. In this case, it is likely that their property will be sold at auction.
The liquidation of a company with debts can be carried out on the initiative of the direct founders or government agencies.
Preliminary stages
If the founders understand that the company will be closed due to the presence of significant debts, then before filing a lawsuit, it is important to perform some preliminary steps. These include:
- a shareholders meeting is being held to understand what the founders think about the planned liquidation of the company;
- an audit of the organization is carried out, as well as an inventory to assess the possibilities for voluntary repayment of all debt;
- calculates the total amount of debt;
- negotiations are ongoing with creditors to determine the feasibility of restructuring;
- if the company has any means, then debts to individuals are initially repaid;
- usually the largest debts are to credit organizations, so it is important to find an opportunity to repay a significant loan.
Only after completing the preliminary preparation does the immediate liquidation of the organization begin by the appropriate method.
Voluntary company closure
With this method, the direct owners of the company act as initiators. It is not possible to transfer such an organization to third parties. For voluntary liquidation, the founders submit a corresponding application to the Federal Tax Service, on the basis of which the necessary changes are made to the Unified State Register of Legal Entities.
This method of closing the company is considered the most acceptable for any entrepreneur. But during the verification of documentation and statements, it is likely that the tax inspector will find out that the company has debts to the state or other creditors. In this case, additional penalties will be charged, and the company will also be refused voluntary liquidation. Therefore, if the organization has a lot of debts, it is advisable to choose another suitable method.
Only when liquidating a company without debts is it optimal to use a voluntary method.
Bankruptcy
When liquidating a company with debts to suppliers, employees or the state, the bankruptcy procedure is most often used. It is used under the following conditions:
- the amount of debt exceeds 300 thousand rubles .;
- there are no funds with which you can pay off the debt;
- the delay period exceeds 3 months.
Usually, the founders themselves realize that the financial situation of their company is deplorable, so it is simply impossible to get out of the financial hole without bankruptcy. Therefore, they themselves can file a lawsuit in an arbitration court, after which the company is declared bankrupt. During this process, an investigation of the work of the company. If it turns out that the founders violated the requirements of the law during their work, then they can be prosecuted.
Bankruptcy initiators may be lenders or government agencies. To protect against various attacks by the Federal Tax Service and other creditors, it is advisable to use the help of special companies in the process of liquidating a company with debts. Medical consulting provides these services at affordable prices.
Features bankruptcy proceedings
The nuances of declaring a company bankrupt include:
- on the basis of the application submitted to the arbitration court, a manager is appointed who is in charge of all financial matters;
- he evaluates the financial situation of the enterprise, and often the transactions concluded during the last year of work are often canceled altogether;
- a liquidation balance sheet is drawn up;
- a decision is made to initiate bankruptcy proceedings or reorganization;
- if it is impossible to restore solvency, then the property of the company is evaluated, after which it is sold at auction;
- an auction is held at which all valuables belonging to the company are sold;
- received funds are immediately sent to pay off existing debts on the basis of special priority, and the creditors register created at the beginning of the bankruptcy procedure is also taken into account.
If it is not possible to repay all debts using the property of the company, then they are written off. Only after that the company closes. The liquidation of a company with tax and salary debts is most often realized in the form of bankruptcy. This allows you to satisfy the numerous requirements of creditors.
Forced liquidation
In Moscow, the liquidation of firms with debts is carried out in the same way as the closure of organizations in other regions. Forced closure of the company is that the initiator of this process is a creditor or several creditors at once. In this case, the banking institution, state bodies or private creditors file a lawsuit with the arbitration court.
The court considers all the circumstances of the case, after which the company is forcibly declared bankrupt if it cannot handle payments. If at all the leaders of such an organization violated the requirements of the law in the course of work, then they are held accountable.
Selling Organization
In order not to close the company, the owners of the company may decide to sell the organization. Finding a buyer willing to acquire a company with many debts is difficult.
This method of elimination is an alternative, and is also rarely implemented. The new owner must prepare for the need to pay off the debts of the acquired company.
Company reorganization
This method belongs to the alternative, and due to the fact that it is unofficial, there is a possibility that the reorganization transaction will be considered by law enforcement officials as an attempt to evade liability.
The procedure consists in the division or merger of companies. As a result, a new organization is formed, which in fact should be responsible for past debts, but in practice, the founders simply refuse to pay off the debt. In this case, subsidiary liability may apply to managers, and they may also be prosecuted for their illegal actions.
Firm closing cost
The process of closing a company is significantly different in different countries, so the procedure will have significant differences when implemented in Moscow or Minsk. The liquidation of a company with debts in the Russian region is a paid process. The exact size of the board depends on the following factors:
- the way in which the liquidation of the organization is performed;
- number of creditors;
- total amount of debt;
- the period during which it is necessary to close the organization;
- Rates of the consulting company selected to assist.
Usually, it takes about six months for forced liquidation, and about 30 thousand rubles are also spent. If the founders voluntarily close the company, then they spend about 50 thousand rubles, but the process takes no more than 3 months.
Conclusion
If the company has large debts that the organization cannot repay due to the incoming profit, then you have to resort to the liquidation of the enterprise. The procedure can be performed forcibly or voluntarily.
The founders must take care of paying off all debts, otherwise all the property of the company will be sold at auction. The funds received from this process will be sent to creditors.