7.06.2017

The unified state register of bankruptcy information offers to foreign businesses the assets of bankrupt companies.

Acquisition of a part of the property of a bankrupt organization or the whole enterprise by the investor as a single property complex allows starting a business from scratch. Before putting up for sale, an independent property valuation is conducted, and the investor buys assets that have been cleared from debts, social obligations without any preconditions.

 “Today, a complete list of assets of bankrupt enterprises is available at bankrot.gov.by.  However we want potential investors to be able to know about these offers, so now we are working to supplement the investment opportunities presented on the NAIP website with the assets of organizations that are in economic insolvency proceedings,” said Acting Director of the National Agency of Investment and Privatization Sergei Vaganov.

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If we talk about the advantages of such investments, it is worth mentioning that the investor does not have obligations to maintain the social infrastructure when acquiring the enterprise as a property complex.       

 “In addition, bankruptcy exempts property from all types of encumbrance and transfer of social facilities and infrastructure to local authorities. Also, the investor's right to acquire bankruptcy assets does not require the approval or consent of local authorities and management, and is implemented by the investor independently without any delay,” Sergei Vaganov noted.

The process of acquiring such assets is regulated by the Law of the Republic of Belarus "On economic insolvency (bankruptcy)" and is exercised under the control of the judiciary. Property (non-movable assets) is realized through open bidding, the mechanism of which has been mastered in practice, and the value of the object can be reduced directly by the creditors. Also the object can be sold to the specific investor through direct contracts (realizable value). The entire list of realized property in economic insolvency (bankruptcy) is presented on the website of the Unified State Register of information about bankruptcy.