Classification of creditors in bankruptcy case

The article is devoted to the study of the classification of creditors in the case of bankruptcy. Creditors are one of the main participants in the bankruptcy case, because the satisfaction of their monetary claims against the debtor is one of the goals of the bankruptcy process. At the same time, the legal status of creditors in a bankruptcy case is not homogeneous, but depends on many factors – the moment of filing claims against the debtor, the time of obligations, the security of their monetary claims, etc. In this regard, it is urgent to carry out the classification of creditors in the case of bankruptcy. The purpose of the article is to classify creditors in a bankruptcy case in order to determine the peculiarities of the legal position of each group of creditors. Creditors provided for by the Code of Ukraine on Bankruptcy Procedures are divided into: secured and unsecured creditors based on the availability of collateral; at the moment of the requirements – competitive and current. The peculiarities of the legal position of the initiating creditor in the case of bankruptcy of a legal entity are disclosed. It is emphasized that the initiating creditor bears an additional burden regarding the payment of the court fee (which, by the way, the debtor does not pay when applying to the court with a similar statement) and regarding the advance payment of the arbitration manager’s fee. At the same time, even after paying these funds, the initiating creditor does not always receive a result in the form of the opening of proceedings in the case. Since the debtor’s disagreement with the creditor’s demands may indicate a dispute about the right, and this is a reason for refusing to open proceedings. According to the results of the research, the author emphasized that the opening of bankruptcy proceedings significantly affects the debtor, his property, and his creditors. It is proposed to single out such a group of creditors as overdue creditors who have had their claims extended. These creditors belong to forced late creditors, however, unlike other late creditors, they enjoy the rights of those creditors who declared their claims on time.

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Publication Details

Journal
Visegrad Journal on Human Rights
Published
2024-11-11
DOI
https://doi.org/10.61345/1339-7915.2024.4.7
Primary Topic
Corporate Insolvency and Governance
Type
article
Field-Weighted Citation Impact
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article

Classification of creditors in bankruptcy case

O. S. Iarmolenko
Visegrad Journal on Human Rights
Corporate Insolvency and Governance
article

Classification of creditors in bankruptcy case

O. S. Iarmolenko
article en

Abstract

The article is devoted to the study of the classification of creditors in the case of bankruptcy. Creditors are one of the main participants in the bankruptcy case, because the satisfaction of their monetary claims against the debtor is one of the goals of the bankruptcy process. At the same time, the legal status of creditors in a bankruptcy case is not homogeneous, but depends on many factors – the moment of filing claims against the debtor, the time of obligations, the security of their monetary claims, etc. In this regard, it is urgent to carry out the classification of creditors in the case of bankruptcy. The purpose of the article is to classify creditors in a bankruptcy case in order to determine the peculiarities of the legal position of each group of creditors. Creditors provided for by the Code of Ukraine on Bankruptcy Procedures are divided into: secured and unsecured creditors based on the availability of collateral; at the moment of the requirements – competitive and current. The peculiarities of the legal position of the initiating creditor in the case of bankruptcy of a legal entity are disclosed. It is emphasized that the initiating creditor bears an additional burden regarding the payment of the court fee (which, by the way, the debtor does not pay when applying to the court with a similar statement) and regarding the advance payment of the arbitration manager’s fee. At the same time, even after paying these funds, the initiating creditor does not always receive a result in the form of the opening of proceedings in the case. Since the debtor’s disagreement with the creditor’s demands may indicate a dispute about the right, and this is a reason for refusing to open proceedings. According to the results of the research, the author emphasized that the opening of bankruptcy proceedings significantly affects the debtor, his property, and his creditors. It is proposed to single out such a group of creditors as overdue creditors who have had their claims extended. These creditors belong to forced late creditors, however, unlike other late creditors, they enjoy the rights of those creditors who declared their claims on time.

Visegrad Journal on Human Rights(4)
Donetsk State University of Management (UA)
Peace, Justice and strong institutions
Openalex Percentile: Top 67%
Corporate Insolvency and Governance
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