Founded in 1948 

Moscow Committee of Science and Technology

Support during bankruptcy

Bankruptcy or insolvency is the inability of a debtor (an individual entrepreneur or an organization) recognized by the authorized state body to fully satisfy the creditors' claims for monetary obligations and (or) fulfill the obligation to pay mandatory state payments. ??

In the midst of an economic crisis, the bankruptcy of an organization is a fairly common procedure and many enterprises that are in a difficult financial situation face it. The creditors of such organizations, whose debts often exceed liquid assets, are not insured from participation in the bankruptcy procedure. However, the main thing that needs to be understood is that bankruptcy is not the end of the company's activity, but represents a form of compromise with creditors, after which the financial recovery of the enterprise becomes possible.