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06.06.2024
REGISTRATION OF A COMPANY WILL BE REFUSED, IF A MANAGER IS BANKRUPT

For three years after completion of the procedure for the sale of property in relation to a citizen or the termination of bankruptcy proceedings within such procedure, the person cannot hold positions in the management bodies of the organisation or otherwise participate in the management of the company. If these requirements are violated, refusal of state registration is allowed.

A court ruling declaring a citizen insolvent (bankrupt) is not the basis for entering information on the person into the register of disqualified persons. Administrative liability for managing a company by a disqualified person applies only to the person that has been given an administrative penalty in the form of disqualification.

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