Intentional bankruptcy

Under bankruptcy is understood the process thatbegins in the event that an entrepreneur or an organization becomes unable to pay off their creditors. This process is associated with the deprivation of property, which is carried out in accordance with the law and only by a court decision. Due to property and debts are paid off. The procedure for bankruptcy of an enterprise is complex and has a large number of its nuances. Only a court has the right to declare bankrupt.

The initiator can be any creditor, andalso the debtor himself. The bankrupt, as a rule, until the full settlement with the debtors is severely limited in financial rights. It is important to note that bankruptcy can come not only for objective reasons (real lack of money needed to pay debts), but also because an entrepreneur or organization has decided to enrich itself and get rid of unnecessary creditors. Fictitious and deliberate bankruptcy is what many businessmen use to solve their problems. Sometimes this is followed by criminal responsibility.

Intentional bankruptcy and its characteristics

It refers to crimes in the economic sphere.In itself, it damages creditors, the enterprise itself, as well as its employees. Its essence is that the head of the enterprise in all possible ways tries to make him insolvent, that is, unable to pay off his creditors.

For their own purposes, dishonest businessmen are placed in theaccounting reports false information, draw up deliberately unprofitable purchase and sale transactions, begin to spend unnecessary and expensive repairs, purchase all kinds of equipment and so on. As for property, it's worth noting that good things are sold, and in return they get something less quality. This, in the first place, is due to the fact that without any regret to alienate it with further confiscation.

In most cases, deliberate bankruptcyis revealed during regular audit, analysis of the debtor's condition, inventory and so on. Sometimes it can be difficult to identify. In general, deliberate bankruptcy has a number of characteristics:

- the debtor hides obligations and property;

- there are large amounts of overdue accounts receivable;

- there are financial investments after the current payments have been suspended.

Intentional bankruptcy is one of the most common financial irregularities. This fact creditors often use when negotiating with debtors.

The debtor, carrying out deliberate bankruptcy,tries to deceive its creditors, to break all agreements, not to pay everything that it is obligated to pay. Yes, creditors receive some sort of compensation, but it often turns out to be too small. It is a question of that compensation which is paid at the expense of the means received from sale of property of the bankrupt. Deception and violation of the law are obvious.

Legislation establishes various formsresponsibility for those who decided to resort to deliberate bankruptcy. In case of major damage, the debtor is brought to criminal liability. Major damage is damage to the amount of more than one and a half million rubles. In all other cases, the debtor is brought to administrative responsibility.

The fine can reach five hundred thousand.At least two hundred thousand rubles. In some cases, the debtor may be sentenced to imprisonment. The maximum period is six years. The penalty will still be imposed.

Intentional bankruptcy is an easy but dangerous way out of a difficult situation. Do not forget that for such measures you can pay heavily.