Bankruptcy is prepared by a bankruptcy court and directed to liquidate the insolvent assets in order to distribute the proceeds among creditors according to the principle of equal conditions, subject to the legitimate reasons for refusal. From an operational point of view it appears as a process by which the "corporate system" is broken down and cleared nelòle its elementary components in support of creditors.
From various points of view this procedure is similar to the operation of voluntary liquidation and it is even more if we are going to verify that the purpose of determining capital settlement that the HERITAGE flows from the algebraic sum of values \u200b\u200bno longer linked in functional terms, in what has come to stop all activities. The forced liquidation
apply valuation methods similar to those mentioned for the voluntary liquidation even if the nature of the insolvency procedure is necessary to refer to a complex regulatory environment (bankruptcy law) that requires some differences in the principles of assessment and quantification of corporate assets.
In general, the principles of asset valuation are those of the realizable value of assets, but applied in the bankruptcy, with particular criteria of prudence in the past, that is the policy of the investigation ordered debts and probable extinction.
Regarding activities, the criterion of realization, can be formed by the realizable value derived from the market or replacement value or reproduction, in any case, the realizable value should be applied to both the possibility of piecemeal sale of assets than that of the global supply of functional areas or persons, in view of better realization of the assets.
For liabilities, it is necessary to extinction of the debt raised, following the timely ascertained performed in the verification of the passive state, both in relation to the type of debt that the category of creditor (mortgage, pledge, oriviolegaito, unsecured), and quantification of any potential liabilities posed (not recorded in the accounts to be in litigation or possible). Actually, in professional practice, very raraente are valued as liabilities not subject to transfer (but simple determination to be the formation of the passive state): the evaluation is confined to the post office assets capable of transfer.
A special case is given in the bankruptcy proceedings to transfer from the transfer of business: in such circumstances, the goodwill may be nonexistent or present, and therefore transferable.
In the first case the split sale of the company does not have particular problems in valuation As the breakdown of the business requires estimation of the values \u200b\u200bin the absence of goodwill, which is believed to enjoy during reset after the management company failed. In this case fails to make a badwill, merely to highlight the activities singles originators. If, however, is
found a value of goodwill, it is convenient to obtain the best soddisfaciemnto creditors, continue to realizations in block of the business, for which the guardianship is activated in order to obtain estimates of the economic capital of the company (the company valuation is usually carried out by an assessor who is specifically assigned to prepare a technical report called appraisal.
often start in tale circostanza, viene valutato emipicamente in base agli elementi oggettivi, che in sede fallimentare sono spesso carenti: si pensi all'importanza del volume d'affari, che rappresenta uno dei pochi dati certi, sul quale fondare considerazioni di valore. Il voume d'affari appare infatti come un dato non inficiato dalla negativa gestione (e può dare indicazioni tendenziali di quello che potrebbe essere l'utile dell'azienda se fosse getita in modo tale da assicurare condizioni di normalità di funzionamento e di positività dei risultati).
In tale contesto sono comunque applicabili anche i metodi tradizionali di valutazione d'azienda, in particolare i metodi patrimoniali e misti (agevolati dalla presenza di un inventario fallimentare, predistosto by the editor and guaranteed by the installation of the seals on the seat of the goods). Are more difficult to apply the methods and financial income for the negativity of historical data and the uncertainty of forecasts for the future, the companies failed necesitando of profound restructuring.
E 'therefore important to note that before arriving at the estimate of the value of the company, the expert quantify the costs of restructuring and corporate turnaround and deducts from the total value.
The bankruptcy laws governing the sale of the company (even if temporarily not working) art. 105 LF, leaked its preference for the realization of the block or its branches, because the operation which, in the best soddisfacimneto of creditors, is reallocated more desirable solution to the crisis of the business.
If the firm is declared bankrupt, the business unit can be maintained only by adopting appropriate forms to avoid the dissolution of the hyperlink function that characterizes it: the purpose is to preserve the integrity of the business, especially as a production unit.
The company shall not terminate with the declaration of bankruptcy, could the legal system (not just in bankruptcy) to react to the break-through formulas that make possible temporary solutions, such as the rental company or a branch, even during the procedure (Article 104-bis LF), or the provisional budget (Article 104 LF), in order to balance Maten fencing for manufacturing the compound. With the declared insolvent in fact, the court may order the 'Provisional' (continued operation) on a proposal from the liquidator, after hearing the Bankruptcy Judge and the creditors' committee (or individual, whether he is prepared at the same bankruptcy), including by rental company or a branch of it. The tenant has the right of first refusal in the event of a sale of the detector.
Within 60 days of preparation of the inventory, the trustee prepares the program to clear. Is presented to creditors and the GD (Bankruptcy Judge). After approval, proceed with the sale of goods, company or business units, assignment of receivables also a fiscal second competitive methods (such as public auction). The SG can terminate the sale if there are serious and justified reasons, on the application of the bankrupt or the creditors' committee, or if better offers.
The draft is prepared by the asset allocation becomes executive editor and if, after a period of 15 days, lenders offer no complaint. Otherwise the program becomes enforceable after a provision of the contested amounts on which the court decides. In breaking down loans collateralised prevail prededucibili loans, these loans take precedence over privileged (pledge, mortgage), and last you have the unsecured creditors, subject to creditorum level playing field (in practice, will be met in equal measure on the percentage of credit due to them).
The rule on liquidation of assets in bankruptcy is codified in Article. LF 107, which governs the rules of sales: Despite the complementary relationship that binds the company's assets is more intense in nature than the simple sum of goods in bulk tranfers between the type of sales permitted, however, inspired by criteria of competitiveness, become available as well at auction, offers private, as typical cases of sales bankruptcy, corporate complexes, whose final act is still a measure of a judicial nature.
From various points of view this procedure is similar to the operation of voluntary liquidation and it is even more if we are going to verify that the purpose of determining capital settlement that the HERITAGE flows from the algebraic sum of values \u200b\u200bno longer linked in functional terms, in what has come to stop all activities. The forced liquidation
apply valuation methods similar to those mentioned for the voluntary liquidation even if the nature of the insolvency procedure is necessary to refer to a complex regulatory environment (bankruptcy law) that requires some differences in the principles of assessment and quantification of corporate assets.
In general, the principles of asset valuation are those of the realizable value of assets, but applied in the bankruptcy, with particular criteria of prudence in the past, that is the policy of the investigation ordered debts and probable extinction.
Regarding activities, the criterion of realization, can be formed by the realizable value derived from the market or replacement value or reproduction, in any case, the realizable value should be applied to both the possibility of piecemeal sale of assets than that of the global supply of functional areas or persons, in view of better realization of the assets.
For liabilities, it is necessary to extinction of the debt raised, following the timely ascertained performed in the verification of the passive state, both in relation to the type of debt that the category of creditor (mortgage, pledge, oriviolegaito, unsecured), and quantification of any potential liabilities posed (not recorded in the accounts to be in litigation or possible). Actually, in professional practice, very raraente are valued as liabilities not subject to transfer (but simple determination to be the formation of the passive state): the evaluation is confined to the post office assets capable of transfer.
A special case is given in the bankruptcy proceedings to transfer from the transfer of business: in such circumstances, the goodwill may be nonexistent or present, and therefore transferable.
In the first case the split sale of the company does not have particular problems in valuation As the breakdown of the business requires estimation of the values \u200b\u200bin the absence of goodwill, which is believed to enjoy during reset after the management company failed. In this case fails to make a badwill, merely to highlight the activities singles originators. If, however, is
found a value of goodwill, it is convenient to obtain the best soddisfaciemnto creditors, continue to realizations in block of the business, for which the guardianship is activated in order to obtain estimates of the economic capital of the company (the company valuation is usually carried out by an assessor who is specifically assigned to prepare a technical report called appraisal.
often start in tale circostanza, viene valutato emipicamente in base agli elementi oggettivi, che in sede fallimentare sono spesso carenti: si pensi all'importanza del volume d'affari, che rappresenta uno dei pochi dati certi, sul quale fondare considerazioni di valore. Il voume d'affari appare infatti come un dato non inficiato dalla negativa gestione (e può dare indicazioni tendenziali di quello che potrebbe essere l'utile dell'azienda se fosse getita in modo tale da assicurare condizioni di normalità di funzionamento e di positività dei risultati).
In tale contesto sono comunque applicabili anche i metodi tradizionali di valutazione d'azienda, in particolare i metodi patrimoniali e misti (agevolati dalla presenza di un inventario fallimentare, predistosto by the editor and guaranteed by the installation of the seals on the seat of the goods). Are more difficult to apply the methods and financial income for the negativity of historical data and the uncertainty of forecasts for the future, the companies failed necesitando of profound restructuring.
E 'therefore important to note that before arriving at the estimate of the value of the company, the expert quantify the costs of restructuring and corporate turnaround and deducts from the total value.
The bankruptcy laws governing the sale of the company (even if temporarily not working) art. 105 LF, leaked its preference for the realization of the block or its branches, because the operation which, in the best soddisfacimneto of creditors, is reallocated more desirable solution to the crisis of the business.
If the firm is declared bankrupt, the business unit can be maintained only by adopting appropriate forms to avoid the dissolution of the hyperlink function that characterizes it: the purpose is to preserve the integrity of the business, especially as a production unit.
The company shall not terminate with the declaration of bankruptcy, could the legal system (not just in bankruptcy) to react to the break-through formulas that make possible temporary solutions, such as the rental company or a branch, even during the procedure (Article 104-bis LF), or the provisional budget (Article 104 LF), in order to balance Maten fencing for manufacturing the compound. With the declared insolvent in fact, the court may order the 'Provisional' (continued operation) on a proposal from the liquidator, after hearing the Bankruptcy Judge and the creditors' committee (or individual, whether he is prepared at the same bankruptcy), including by rental company or a branch of it. The tenant has the right of first refusal in the event of a sale of the detector.
Within 60 days of preparation of the inventory, the trustee prepares the program to clear. Is presented to creditors and the GD (Bankruptcy Judge). After approval, proceed with the sale of goods, company or business units, assignment of receivables also a fiscal second competitive methods (such as public auction). The SG can terminate the sale if there are serious and justified reasons, on the application of the bankrupt or the creditors' committee, or if better offers.
The draft is prepared by the asset allocation becomes executive editor and if, after a period of 15 days, lenders offer no complaint. Otherwise the program becomes enforceable after a provision of the contested amounts on which the court decides. In breaking down loans collateralised prevail prededucibili loans, these loans take precedence over privileged (pledge, mortgage), and last you have the unsecured creditors, subject to creditorum level playing field (in practice, will be met in equal measure on the percentage of credit due to them).
The rule on liquidation of assets in bankruptcy is codified in Article. LF 107, which governs the rules of sales: Despite the complementary relationship that binds the company's assets is more intense in nature than the simple sum of goods in bulk tranfers between the type of sales permitted, however, inspired by criteria of competitiveness, become available as well at auction, offers private, as typical cases of sales bankruptcy, corporate complexes, whose final act is still a measure of a judicial nature.
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