Bankruptcy of the bread-baking complex

The client contacted DAYLIGHT Law Firm on issues related to the legal support of the bread-baking complex daily activities. During the analysis of the current situation, it turned out that the Client has current payables to the Federal Tax Service in the amount of 51 million rubles.

At the end of 2017, the Federal Tax Service appealed to the court to declare the bread-baking complex a bankrupt. In the course of inclusion in the register of claims by other lenders, as well as preparation for the first meeting, the following became clear. The FTS has a voting requirement of 40%, the rest of creditors – more than 55%. Due to this circumstance, the lawyers of DAYLIGHT Law Firm offered the optimal solution – the introduction of an external management procedure that would allow the enterprise to continue its activities and development without pressure from the FTS side.

In addition, as part of the bankruptcy procedure, the actions of DAYLIGHT Law Firm did not allow former shareholders and former management of the company to join the register of creditors’ claims, since their claims were based on unconditional loan agreements. Considering the practice related to the subrogation of claims, unconfirmed claims for the amount of more than 20 million rubles were not included in the register of creditors.

In September 2017, even before the introduction of bankruptcy procedures, DAYLIGHT Law Firm helped to meet the requirements of all employees of the company and pay wage arrears for 2016-2017.

In June 2018, the plan for the introduction of the external management procedure was implemented.