Agrarian law. Responsibilities of the board of the cooperative in the event of signs of insolvency (bankruptcy) (most important)

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Agrarian law. Responsibilities of the board of the cooperative in the event of signs of insolvency (bankruptcy) (most important)

Lecture notes, cheat sheets

Directory / Lecture notes, cheat sheets

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46. Obligations of the board of the cooperative in the event of signs of insolvency (bankruptcy)

The requirement to liquidate the cooperative on the grounds specified in paragraph 2 of Art. 42 of the Federal Law "On Agricultural Cooperation", may be brought to court by a state body or local government, which is granted the right to make such a claim by law.

The grounds for declaring a cooperative bankrupt by a court or for declaring a cooperative about its bankruptcy, as well as the procedure for liquidating such a cooperative are established by the law on the insolvency (bankruptcy) of agricultural organizations. In the event of the occurrence of signs of insolvency (bankruptcy) of the cooperative established by law, the board of the cooperative is obliged (part 5 of article 42 of the Federal Law "On Agricultural Cooperation"):

1) send a request for an audit of the financial and economic activities of the cooperative to the audit union, of which the cooperative is a member;

2) to familiarize the supervisory board of the cooperative with the conclusion of the audit union on the results of the audit of the financial and economic activities of the cooperative;

3) develop an action plan to prevent insolvency (bankruptcy) of the cooperative.

If the board of the cooperative and the supervisory board of the cooperative decide on the need to apply to the arbitration court with the debtor's application for declaring the cooperative bankrupt, or if the bankruptcy creditor or authorized bodies apply to the arbitration court for declaring the cooperative bankrupt, the supervisory board of the cooperative or the board of the cooperative are obliged to convene a general meeting of members of the cooperative.

In accordance with Part 6 of Art. 42 of the Federal Law "On Agricultural Cooperation", the supervisory board or the board of the cooperative at the general meeting of members of the cooperative are obliged to:

1) to familiarize the members of the cooperative and associated members of the cooperative with the right to vote with the conclusion of the audit union on the results of the audit of the financial and economic activities of the cooperative and on the reasons that led the cooperative to bankruptcy;

2) to elect a representative of the members of the cooperative during the bankruptcy proceedings of the cooperative;

3) adopt an action plan to protect the legitimate interests of members of the cooperative, associate members of the cooperative and employees of the cooperative.

Author: Zavrazhnykh M.L.

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