Kolesnyk Ilya

Attorney

Phone numbers
+38 (073) 007-44-49 +38 (073) 007-44-54

Specialist in bankruptcy of individuals and legal entities. Provides legal support in bankruptcy procedures for individuals, private limited liability companies, legal entities, as well as closing executive proceedings, concluding restructuring and settlement agreements with financial institutions

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Case: Bankruptcy of an individual entrepreneur was filed

Restructuring and bankruptcy
Reading time: 2 min.
Authors
Shakhovets Anastasia Kolesnyk Ilya

A story that dispels the “myth” that entrepreneurs are not recognized as bankrupt.

Our company was approached by a Client who is an individual entrepreneur (PPO), but with the full-scale invasion of the territory of Ukraine, the income decreased and, accordingly, a debt of up to half a million hryvnias arose.

The main goal of our work:

  • write off the debt in full;
  • close executive proceedings;
  • unblock accounts.

We analyzed her case, assessed the risks, started work, and by the decision of the Commercial Court dated 04.10.2023, insolvency proceedings were already opened.

In view of the established circumstances and the given norms, after examining the case materials and evaluating the evidence available in the materials as a whole, taking into account the non-submission by the bankruptcy creditors of the relevant statements with monetary claims to the debtor within the period specified by law, as well as the report of the restructuring manager on the verification of the debtor’s property status, the court comes to a conclusion about closing the proceedings in the case of our Client’s insolvency.

According to Part 4 of Art. 90 of the Code of Ukraine on Bankruptcy Procedures in the cases provided for in clauses 4 – 6 of the first part of this article, the commercial court in the decision to close the proceedings in the case notes that the claims of bankruptcy creditors, which were not declared within the time limit established by this Code or were rejected by the commercial court, are considered repaid, and executive documents are recognized as unenforceable according to the relevant requirements.

Photo of the court decision:
Bankruptcy of an individual entrepreneur was filed

So, our goal was fulfilled in full and now our Client continues to carry out her activities as an individual entrepreneur, but without debts and seized accounts.

If you are a business owner and you also need to write off debts through the bankruptcy procedure, fill out the form below for a consultation with specialized lawyers and a calculation of the cost of “turnkey” bankruptcy registration services in Ukraine.

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1 question

Are you a business owner and do you need to file a bankruptcy procedure?

Yes
No
2 question

Do you have debts in the amount of more than UAH 200,000?

Yes
No
3 question

Have you paid loan payments/penalties in the last 6 months?

Yes
No
4 question

Have your accounts been seized by the executive service?

Yes
No
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