Liquidation/bankruptcy (bankruptcy of individuals). Solving the problem of the “eternal director”

Liquidation of a business is a no less responsible, and often significantly more complicated procedure than a business creation procedure.

For over ten years,”Legal Consulting Center” aw firm has been providing legal services in this practice. Our lawyers and arbitration managers have extensive experience solving business closures, both by the usual procedure – by decision of the owners, and through the courts – through bankruptcy.

Who are our clients?

Clients with different levels of business structuring resort to the services of our company, in particular:

• we know how to solve problems associated with the closure (removal from the Ukrainian market) of subsidiaries and representative offices of non-residents (large European and American companies); ⇒more details in the article “Representation of a non-resident in Ukraine: from the experience of legal support”
• at the same time, we provide services to owners in support of the procedure for the termination of legal entities relating to medium and small businesses; 
• we also have considerable experience in eliminating non-working legal entities and withdrawing from the state registration of individuals – entrepreneurs;
• besides, our company has developed and successfully implements a mechanism for solving the problem of “eternal” directorship in “abandoned” companies, when there is no legal opportunity, under the decision of the owner, to replace the head of the legal entity.

How can we be useful and what services we deliver?

In this area, “Legal Consulting Center” can quickly help in resolving the following tasks, in particular:

1) advise our clients on the existing ways to terminate a business, giving them step-by-step instructions on liquidating a legal entity, depending on the method of closing the business;

2) study reports and documents, analyze the financial condition of the client (the size of net assets, receivables and payables), identify signs of insolvency, and determine the optimal liquidation procedure;

3) prepare projects of all documents related to the liquidation procedure by the decision of the owner, and carry out all the necessary actions related to such a procedure (organize and hold meetings of the supreme bodies, notify supervisory authorities and accompany the passing of checks for deregistration, notify creditors, dismiss personnel, implement property, close liabilities to creditors, prepare an interim liquidation balance sheet and liquidation balance sheet, cancel shares issue and close accounts in banks and i in the securities depository) – provide the candidacy of the liquidator, if necessary;

4) accompany the process of liquidation through bankruptcy. 

We prepare drafts of all documents related to the bankruptcy court procedure, and carry out all the necessary actions related to such a procedure, in particular:

• we organize and hold meetings of higher authorities;
• we represent interests in the bankruptcy court procedure;
• we carry out an accounting and tax audit;
• notify regulatory authorities;
• dismiss personnel; conduct an inventory of property;
• sell property according to established procedures;
• prepare interim and liquidation balance sheets, closing bank accounts, commit other necessary actions – if necessary, provide the liquidator’s candidacy before the start of the judicial process, and in the future – arbitration manager.

With the entry into force of the Bankruptcy Code, an individual bankruptcy procedure support service will be available;

5) accompany the procedure for closing representative offices of non-residents:

• prepare draft documents related to such a procedure;
• notify supervisory authorities and accompany checks for deregistration;
• notify lenders;
• fire personnel;
• sell assets, close obligations to creditors, transfer funds abroad to the parent company;
• prepare liquidation balance;
• closing accounts in banks;

⇒more about the service “Liquidation of representative offices of foreign companies”

6) accompany the procedure of excluding information from the unified state register of the company’s manager:

• we advise on the procedure for dismissing the director from the position due to the absence of the founders of the legal entity;
• prepare draft documents related to the general meeting of founders, acts and notifications for the fiscal service and statistics bodies;
• the procedure for establishing the fact of termination of labor relations;
• prepare a package of documents on the basis of the court’s decision on the registration of the removal of the director’s data from the USR;
• accompany the court procedure with the requirement to carry out the registration action of removing the director’s data from the USR;
• prepare a package of documents based on the decision of the administrative court on the registration of the director’s data.

What we don’t do

We do not mislead our clients by promising them for a small reward the liquidation of their business and the miraculous deliverance from all problems (unpaid debts, unpaid taxes and other similar concerns) in three days by re-registering the director and participants (owners) of the legal entity to nominees. And we categorically do not recommend believing in the illusion that such a transfer to fictitious persons (local, including those registered in the territory temporarily not controlled by the authorities of our state, or foreigners) will relieve you of legal consequences for mistakes or wrong decisions. taken in the past when doing business.

Such a method of “liquidation” will not solve problems with tax evasion or possible criminal liability, but will only delay, and may even aggravate them in the future! For example, if after some time a legal entity sold by you will be used by unknown persons in fictitious or other illegal operations related to the withdrawal of funds and tax evasion, financing of terrorism and other similar operations !!! In any case, you will definitely have to go to the investigator more than once for interrogation and it is hard to predict how it can end. There are possible options. So, is it really worth trying  and being so careless?!

⇒Answers to frequently asked questions

Why us?

“Legal Consulting Center” offers a comprehensive service that is not limited solely to consulting on issues of procedure or preparation of draft documents necessary for the implementation of the legal part of the liquidation procedure. Therefore, if the owner has decided to terminate the business, our task is to assist him in legal, accounting and consulting support of the liquidation procedure, including resolving all related issues regarding staff, creditors, debtors and the remaining property.

Our goal is to free up time to the owner, sorting out all the concerns in the area of responsibility of our company.related to the liquidation procedure.

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