The decree on financial recovery of agricultural enterprises allows creditors and debtors to find a compromise
"The position of the Supreme Court is aimed at maximizing the avoidance of litigation when resolving disputes. To implement Decree No. 399, we must create conditions for maximum liberation of business and even administrative initiative of local leaders who see what and how needs to be done for the development of enterprises. The document does not provide for endless judicial procedures, only one is provided for - to appeal the final decision. In addition, according to the decree, both creditors and debtors have the opportunity to negotiate as much as possible and find a compromise," Yuri Kobets noted.
In a situation where all the decree's mechanisms have failed to lead to financial recovery, the liquidation of the agricultural enterprise as an organizational and legal form may be considered, but not the production itself. People will continue to work as they did, but under different conditions.
Yesterday, a seminar "On the proposed tools and mechanisms for the financial recovery of agricultural organizations within the framework of Decree No. 399 "On the financial recovery of agricultural organizations" was held at the Vitebsk Regional Executive Committee. The document provides for the main tools and mechanisms for the recovery of insolvent agricultural organizations. It is planned that by April 6, 2019, lists of organizations in the country subject to financial recovery will be formed.