Any enterprise that conducts entrepreneurial activity, in one case or another, can act as a debtor or creditor. In the first situation, everything is quite simple. Organizations owe money, at a specific time they must be transferred to its account. Together with this enterprise external loans may be required. Of these, accounts payable arise. Unfortunately, the company is not always able to pay off its obligations. In such cases, it may be declared bankrupt. In this process, among other persons, competitive creditors are involved. Consider their features.
Characteristic
Who are competitive lenders ? First of all, it should be said that these entities have certain differences from ordinary lenders. Consider an example. Enterprise A delivered 200 thousand rubles worth of products. Company B must transfer the payment for the goods that it already has in stock. Until the second organization makes deductions, the first company acts as a creditor. Assume that company B did not make payment on time. In this case, she is given another 3 months. to repay the obligation. If this period is also overdue, then enterprise A may send an application to the arbitration for obtaining the status of a competitive creditor.
Normative base
To understand who such bankruptcy creditors should refer to the Federal Law No. 127. Section 2 defines two categories of participants in a bankruptcy proceeding. As ordinary creditors are all entities that have claims against the debtor. These include various bodies (the Pension Fund, the tax inspectorate, to which mandatory contributions are made), and employees who have not received the due payments. The second category defined by Art. 2 of the Law - bankruptcy creditors . They are persons who have documentary evidence of monetary obligations of the debtor. Inclusion of the creditor in bankruptcy proceedings is carried out at his request. It must be submitted in a timely manner.
Register of creditors in bankruptcy proceedings
In a general sense, it is an accounting document. It contains information about the creditors who have filed applications for their claims. However, the arbitration shall fix the participants in the proceedings. This is due to the fact that the claims of creditors in bankruptcy proceedings can be submitted only at a certain time. It begins to flow after the publication of bankruptcy in official publications. From this moment, the debtor's property is recorded. It will be sold at auction to satisfy claims.
Nuances
Inclusion in the register of creditors in bankruptcy proceedings is carried out on a voluntary basis. Claims of entities that have not submitted their applications after the deadline will be declared null and void. Accordingly, they are deprived of the right to receive due funds. It is worth saying that such a situation in practice is not something rare. Lenders may have their own reasons for not making demands.
General meeting
Article 12 of the Federal Law "On Bankruptcy" expressly establishes that bankruptcy creditors, as well as representatives of bodies whose requirements are recorded in the register, can act as participants in the process. Moreover, information should be entered into the documents based on the date of the general meeting. It is organized to develop common approaches to resolving issues during the bankruptcy process. In fact, the meeting implements the tasks of the collegial body that controls the procedure.
Rights of subjects
Bankruptcy creditors are considered key individuals in a bankruptcy proceeding. They are entitled to:
- Participate in the observation process.
- Apply to the arbitration for the replacement of the manager.
- Participate in the recovery process of the enterprise, if assigned.
- Submit a claim to the arbitration to replace the procedure.
It is necessary to clearly understand the importance of actors in the process. Each claim of the creditor to the bankruptcy trustee is recorded in the minutes of the meeting. The subject who has the most claims can play a decisive role in the appointment. Due to the fact that lenders act as the main participants in the meeting, they influence decisions that are made during the discussion. Article 12 of the Federal Law "On Bankruptcy" lists issues that are assigned exclusively to their competence. Moreover, the norm emphasizes the fact that no one, except for the meeting, can take appropriate decisions.
"Transition point"
How is the status of a competitive creditor obtained? In the practice of applying the rules, there are explanations on this issue. The transition to the status of a competitive creditor occurs from the moment of inclusion in the register by decision of the arbitration court. As for the division of rights between entities, the following can be noted. Inclusion in the register by arbitration allows a person to become a party to the proceedings. Otherwise, the entity remains within the framework of the bankruptcy procedure, but has fewer opportunities. An ordinary lender can protect his interests, and a competitive one can influence the process. Moreover, the latter can count on the satisfaction of its claims in the first place.
Important point
In practice, situations when a company is indebted to several firms are not uncommon. In this case, the subjects choose the main creditor. For this, the debt to him must be at least 10% of the total amount of obligations. To appeal to arbitration in this case, the consent of the remaining creditors is required.
Exceptions
Not all lenders can become competitive. Exceptions are provided for in the Bankruptcy Law. The list of entities that cannot count on obtaining status is considered to be exhaustive. For example, creditors cannot be competitive:
- Concluding a barter transaction with the debtor.
- Having mutual obligations.
- Claims of a non-property nature that arose as a result of damage to health, life.
- Providing the debtor with services related to intellectual work, but they were not paid.
Additionally
The following information shall be entered in the register of creditors:
- The name of the person.
- Location address.
- Account details.
A citizen may also be a claimant. In this case, indicate:
- FULL NAME.
- Passport data.
Debt information is also included in the registry. Moreover, the fact of its presence is confirmed by relevant documents. After entering information, subjects receive notifications. From this moment, the lender may request an extract from the register from the manager. This document is submitted within five days.
Conclusion
Bankruptcy proceedings are a rather unpleasant process for all parties. However, if lenders want to get their money, they will have to participate in it. It should be borne in mind that the introduction of information in the documentation is carried out in a certain order and on time. Upon presentation of claims, documentary evidence of their existence shall be provided. It can be invoices, contracts, etc. The arbitration manager can establish a specific list of supporting materials.