CASE / PERSONAL INSOLVENCY
Insolvency of Ms Sh.: full discharge from debt
A textbook case of mandatory insolvency: the signs of inability to pay were obvious, and the question was not whether to file but how to file without mistakes. We assembled the documents, ran the case and took the procedure through to a full discharge.
- Headline figure
- 6 months of procedure
- Practice
- Personal insolvency
- Year
- 2024
The task
Ms Sh. approached Kovalev & Partners LLC for help in being declared bankrupt. By then her loan obligations had been in default for more than three months and the debt exceeded five hundred thousand roubles.
What we did
- Reviewed the documents provided and concluded that the statutory signs of insolvency were present.
- Prepared the set of documents required by Federal Law No. 127-FZ of 26 October 2002 “On Insolvency (Bankruptcy)”.
- Filed the application with the Arbitrazh Court of the City of Moscow.
- Supported the insolvency procedure through to completion.
The result
The court declared Ms Sh. insolvent (bankrupt). Six months after that ruling the procedure was completed and Ms Sh. was fully released from her debt obligations.
This description reflects the result in a particular matter on particular facts. A result in one case neither guarantees nor implies a similar result in another.
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