Confiscation of property of the enterprise

Finance
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As a result of inefficient economicactivity and due to unskilled actions of the management team, a situation can arise at the production enterprise when no financial leverage is in place and a moment of compulsory free-of-charge withdrawal occurs or, in other words, the property of the enterprise is confiscated. This process can affect how completely all of the company's assets, as a result of its complete bankruptcy, so only part of the property can be withdrawn to pay off any outstanding debts.

There come such unpleasant moments in lifeowners and employees of the enterprise, as confiscation of property, as a result of any offenses in the administrative or even criminal offense for grave and especially serious crimes committed by the management or the owner of the enterprise for mercenary motives or as a result of causing financial or physical damage in large quantities.

Even if the judgment is rendered in favor ofenterprise, the management of the company may face a situation where, due to a lack of financial resources or the inability to use borrowed funds, there is still a moment of bankruptcy, followed by confiscation of the enterprise's property.

Although there is a business strategy when companiesit may be advantageous to allow the bankruptcy of its production structure to get rid of illiquid assets. That is, literally bankruptcy is fictitious, and all assets of the enterprise are deduced from its turnover intentionally. The judiciary, as a rule, lacks levers of influence on the management of the enterprise, and the entire responsibility of the head of production is only in the property risks of the company, and not in personal property. In June 2009, amendments were made to the law "On bankruptcy of enterprises". According to him, such a definition as "the debtor's controlling person", which may be the head or owner of the enterprise, has been operating for the past two years and has led to a loss-making process. Also, changes were made that, in the event of a shortage of the company's assets after confiscation to pay off its debts, the collection requirements are applied to the personal property of the owner or the head of the company. But even such harsh measures do not affect the massive bankruptcies of enterprises. Economically and legally it is a very profitable procedure for liquidating inefficient assets of the company in the form of various property, regardless of its qualification.

Classification of the property of the enterprise divides itassets are divided into own and leased. The confiscation of property by a judicial decision affects only its own assets. Moreover, confiscation is imposed as non-negotiable assets, such as buildings and structures, machinery and equipment, inventory and others, and on current assets, such as stocks of raw materials and materials, fuels, goods in stock and even financial assets. Any property of a company suitable for the concept of property, including assets in the bank accounts of the enterprise, goods already shipped to the consumer or enclosed financial assets in unfinished construction, insurance policies and equity investments in other enterprises, as well as assets placed in public or private securities paper.

The remaining property of the enterprise after the confiscationis transferred to a person who has legal rights to it, as a rule, they are founders of the enterprise or a company that is authorized to act on behalf of the owner.

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