Duties of the bankruptcy administrator at various stages of bankruptcy

The bankruptcy procedure in the Russian Federation is quite complex and multi-stage. One of the main roles in this process is the arbitration manager, who participates in the anti-crisis management under the arbitration court. He is presented with a number of requirements, such as the availability of higher education, passing a special examination, experience in certain positions, the absence of convictions for intentional crimes, etc.

The organization of arbitration managers is a self-regulatory, non-profit membership organization. It acts as a guarantor of their activities and provides material responsibility for errors and irregularities during the process. Each member is obliged to deposit a certain amount on the account and insure his liability. If the conditions of membership are not respected, a citizen of the Russian Federation can not be considered an arbitration administrator and will not be allowed by the court to carry out his duties.

The arbitration manager has a lot of names. They change along with the range of duties at different stages of bankruptcy. So, for example, during the observation it is called temporary, in the procedure of recovery - administrative, during the external stage it is the external manager of the enterprise, at the final, competitive stage - competitive.

As it was said before, the duties of the arbitration manager are numerous and vary depending on the stage of the bankruptcy procedure.

During the observation period, he requests accounting and other production documentation, provides for a comprehensive audit. On the basis of the data obtained, a report is drawn up which indicates the value of the bankruptcy estate, establishes a register of legitimate applicants for bankruptcy property and holds their first meeting.

The procedure of recovery is characterized by an attempt by an arbitration manager to restore the solvency of a bankrupt enterprise. In the terms specified in the law, he must submit to the court for consideration the financial rehabilitation plan and the schedule drawn up by him, in which the terms under which the debt is to be paid to creditors are clearly indicated.

During external management, the arbitration manager is required to conduct a full inventory and personally develop a plan of measures. An important aspect is the reorganization: staff and management units are being reduced, non-core departments are cut off and output is reduced. Sanitation can mean even reorienting production to a different product or service, a search for a new market.

At the final, competitive stage, a final inventory and evaluation of all bankruptcy property is carried out, the material assets and assets held by third parties are recovered, their return and subsequent inclusion in the bankruptcy estate.

If, on the other hand, the duties of the bankruptcy commissioner in general are characterized, they are aimed at protecting the legitimate interests of creditors, restoring the solvency of the enterprise and ensuring the preservation of the bankruptcy property.