Articles from: December 2021

FTS Registration

In general volume of work associated with the restructuring process include: – Formation of a package of documents – message body conducting the state registration of legal entities of the impending reorganization – publication of the announcement of the reorganization of the media – notice to creditors of the upcoming reorganization, in writing. Message to the inspection FNS, extrabudgetary funds, the place of registration of upcoming reorganization – the same way, this includes the transfer of documents in the body carrying out registration of commercial and nonprofit organizations required for entry in the register of legal entity created by reorganization. Once the organization has complied with all the above listed, the registrar shall issue necessary documents stipulated in the Civil Code, depending on the shape of the reorganization: And after five working days of the registering authority shall decide on the completion of the reorganization, and therefore issues a certificate. (Source: ClearSky Business). After completion of the reorganization of the newly created legal person must make a notification as FTS and extra-budgetary funds. The main advantages of restructuring: – restructuring of large enterprises into smaller ones, specializing attracts most investors, as well as it allows you to accurately predict the further development of business;-the reorganization of a legal person can bring out non-core activities for this company, which then can be sold – as in reorganization of the business becomes more understandable, which is much important for the management and the company as a whole. The disadvantages include the risks that may face a legal entity in reorganization.

There is a risk sharing conditional on the two groups. To know more about this subject visit Chris Shumway. Group 1 is the recognition of reorganization invalid group 2 – the risk of financial loss. The first group includes such risks as a violation of legislation, decision-making procedures and work with shareholders, creditors' breach of the order of notice of the impending reorganization. To avoid such violations should be included in this work expert – a qualified lawyer.