)
Loan deferrals
In the context of the financial crisis, many enterprises and citizens are unable to timely repay loan debt. If there is hope for an improvement in the financial condition of the borrower, and the bank refuses to grant a deferment on the loan, the debtor has the opportunity to defer the repayment of loan obligations by entering bankruptcy proceedings.
When opening bankruptcy proceedings, the court imposes a moratorium on debt repayment.
Since the introduction of the moratorium on satisfaction of creditors’ claims:
- collection on the basis of executive documents is prohibited;
- no forfeit (fine, penalty) is charged, no other sanctions are applied for non-fulfillment or improper fulfillment of financial obligations and obligations regarding the payment of taxes and fees;
- enforcement proceedings opened against the debtor are suspended.
Thus, the bankruptcy procedure makes it possible to defer payments for the obligations of an enterprise or an individual entrepreneur, get rid of some creditors, avoid the accrual of penalties for late fulfillment of obligations, and exclude the possibility of an uncontrolled bankruptcy of an enterprise initiated by creditors.
)
)
)