Corporate law. External control (most important)

Lecture notes, cheat sheets
Free library / Directory / Lecture notes, cheat sheets

Corporate law. External control (most important)

Lecture notes, cheat sheets

Table of contents (expand)

34. External management

External administration is introduced by the arbitration court on the basis of the decision of the meeting of creditors for a period of not more than 18 months, which can be extended by not more than 6 months. At the request of a meeting of creditors or an external administrator, the established term for external administration may be reduced.

The introduction of external management is a legal fact and entails for the enterprise and its management the consequences determined by the Bankruptcy Law, which are significant from a legal point of view from the date of the introduction of external management:

1) the powers of the head of the debtor are terminated, the management of the affairs of the debtor is entrusted to an external manager;

2) the external receiver has the right to issue an order to dismiss the head of the debtor or to offer the head of the debtor to transfer to another job;

3) the powers of the head of the debtor and other management bodies of the debtor are transferred to an external manager;

4) previously taken measures to secure creditors' claims are cancelled;

5) seizures of the debtor's property and other restrictions on the debtor in terms of the disposal of his property may be imposed exclusively within the framework of bankruptcy proceedings;

6) a moratorium is introduced on the satisfaction of creditors' claims for monetary obligations and on the payment of mandatory payments, except for the cases provided for by the Bankruptcy Law.

With the introduction of external management, the competence of various management bodies of the organization changes. The powers of the management bodies are divided between some of the debtor's management bodies and an external manager. The debtor's management bodies, within the limits of their competence established by federal law, have the right to make decisions:

1) on the introduction of amendments and additions to the charter of the company in terms of increasing the authorized capital;

2) on determining the number, nominal value of declared shares;

3) on increasing the authorized capital of the joint-stock company by placing additional ordinary shares;

4) on filing a petition with the meeting of creditors to include in the external administration plan the possibility of additional issue of shares;

5) on determining the procedure for holding a general meeting of shareholders;

6) to apply for the sale of the debtor's enterprise;

7) on replacement of the debtor's assets;

8) on the election of a representative of the founders (participants) of the debtor;

9) on the conclusion of an agreement between a third party or third parties and the debtor's management bodies authorized in accordance with the constituent documents to decide on the conclusion of major transactions, on the conditions for providing funds to fulfill the obligations of the debtor;

10) other decisions necessary for the placement of additional ordinary shares of the debtor.

Funds spent on holding a meeting of shareholders and a meeting of the board of directors (supervisory board), another management body of the debtor shall be reimbursed at the expense of the debtor only if such a possibility is provided for by the external management plan.

Author: Sazykin A.V.

<< Back: Rights and obligations of the administrative manager

>> Forward: Rights and obligations of an external manager

We recommend interesting articles Section Lecture notes, cheat sheets:

▪ International economic relations. Crib

▪ Consumer behavior. Crib

▪ Faculty Therapy. Lecture notes

See other articles Section Lecture notes, cheat sheets.

Read and write useful comments on this article.

<< Back

Latest news of science and technology, new electronics:

The existence of an entropy rule for quantum entanglement has been proven 09.05.2024

Quantum mechanics continues to amaze us with its mysterious phenomena and unexpected discoveries. Recently, Bartosz Regula from the RIKEN Center for Quantum Computing and Ludovico Lamy from the University of Amsterdam presented a new discovery that concerns quantum entanglement and its relation to entropy. Quantum entanglement plays an important role in modern quantum information science and technology. However, the complexity of its structure makes understanding and managing it challenging. Regulus and Lamy's discovery shows that quantum entanglement follows an entropy rule similar to that for classical systems. This discovery opens new perspectives in the field of quantum information science and technology, deepening our understanding of quantum entanglement and its connection to thermodynamics. The results of the study indicate the possibility of reversibility of entanglement transformations, which could greatly simplify their use in various quantum technologies. Opening a new rule ... >>

Mini air conditioner Sony Reon Pocket 5 09.05.2024

Summer is a time for relaxation and travel, but often the heat can turn this time into an unbearable torment. Meet a new product from Sony - the Reon Pocket 5 mini-air conditioner, which promises to make summer more comfortable for its users. Sony has introduced a unique device - the Reon Pocket 5 mini-conditioner, which provides body cooling on hot days. With it, users can enjoy coolness anytime, anywhere by simply wearing it around their neck. This mini air conditioner is equipped with automatic adjustment of operating modes, as well as temperature and humidity sensors. Thanks to innovative technologies, Reon Pocket 5 adjusts its operation depending on the user's activity and environmental conditions. Users can easily adjust the temperature using a dedicated mobile app connected via Bluetooth. Additionally, specially designed T-shirts and shorts are available for convenience, to which a mini air conditioner can be attached. The device can oh ... >>

Energy from space for Starship 08.05.2024

Producing solar energy in space is becoming more feasible with the advent of new technologies and the development of space programs. The head of the startup Virtus Solis shared his vision of using SpaceX's Starship to create orbital power plants capable of powering the Earth. Startup Virtus Solis has unveiled an ambitious project to create orbital power plants using SpaceX's Starship. This idea could significantly change the field of solar energy production, making it more accessible and cheaper. The core of the startup's plan is to reduce the cost of launching satellites into space using Starship. This technological breakthrough is expected to make solar energy production in space more competitive with traditional energy sources. Virtual Solis plans to build large photovoltaic panels in orbit, using Starship to deliver the necessary equipment. However, one of the key challenges ... >>

Random news from the Archive

VHS continues to lose ground 19.06.2003

For a long time, the DVD format could not seriously shake the position occupied by VHS standard media in the consumer video sector. It wasn't until the prices of DVD drives, and then consumer players, dropped sharply that the position of the VHS standard in the market began to deteriorate steadily.

Digital media with better picture and sound quality now costs not much more than a regular video cassette, so more and more people are choosing to buy DVD-ready equipment.

A recently California-based organization called the Video Software Dealers Association celebrated the first ever increase in DVD rentals over VHS rentals. During the week in the United States, video rental customers checked out 28,2 million DVDs and only 27,3 million VHS tapes.

If earlier it was noted that the number of sold DVD players exceeded the number of sold VCRs, now it is already obvious that the demand for the "new" format predominates among the media as well. The moment when VHS will take its well-deserved place in history next to vinyl records is inexorably approaching.

Other interesting news:

▪ Intel Core i9-10900K processor for gaming systems

▪ Powder that purifies water from E. coli

▪ Walking speed measurement without wearable devices

▪ Medical nano gel

▪ Treasures of Lake Kivu

News feed of science and technology, new electronics

Interesting materials of the Free Technical Library:

▪ section of the site Aphorisms of famous people. Article selection

▪ article The sleep of reason produces monsters. Popular expression

▪ article How did poetry originate? Detailed answer

▪ article Operation of group liquefied gas cylinder installations. Standard instruction on labor protection

▪ article Shortwave antenna. Encyclopedia of radio electronics and electrical engineering

▪ article Solar batteries in multimeters and radio receivers. Encyclopedia of radio electronics and electrical engineering

Leave your comment on this article:

All languages of this page

Home page | Library | Articles | Website map | Site Reviews