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During each bankrupting procedure the functions, rights and duties of the arbitration managing director are defined71. The arbitration court approves arbitration managing directors according to one of bankrupting procedures as temporary managing directors, administrative managing directors, external managing directors or competitive managing directors. The information on self-managing organizations of arbitration managing directors of St. Petersburg registered in the unified state register of self-managing organizations of arbitration managing directors see in the table below. Features of the Bankruptcy of Individual Entrepreneurs The application for an acknowledgement of an individual entrepreneur a bankrupt can be submitted by: 1) a debtor (an individual entrepreneur); 2) the creditor whose claims are connected with the obligations regarding the carrying out of business activities; 3) authorized bodies. By the application of the bankruptcy procedures creditors whose claims are not connected with the obligations regarding business activities, and also creditors whose claims are connected with their person, have also the right to raise the claims. When the decision on the acknowledgement of an individual entrepreneur a bankrupt and the decision of the opening of the bankruptcy proceeding are made by the Arbitration Tribunal, the state registration of a citizen as an individual entrepreneur becomes invalid, and also the issued licenses for individual kinds of business activities are cancelled. The individual entrepreneur to be acknowledged a bankrupt cannot be registered again within a year since the moment of the acknowledgement of him a bankrupt.

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See the Federal Law dated by October, the 26th , 2002. № 127-ФЗ “About the Insolvency (bankrupt)” (with the changes to the date on 05.02.2007 and 26.04.2007). 106

Business.support.structure.in.St.Petersburg  

1. STATE AND MUNICIPAL AUTHORITIES IN ST. PETERSBURG In St. Petersburg the system of state authorities was formed which has statutory object...

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