Maksukyvykkeestä

Maksukyvykkeestä refers to a legal concept in Finnish law concerning the ability of an individual or entity to meet their financial obligations. It is a crucial determinant in various legal proceedings, particularly in bankruptcy and debt restructuring cases.

The assessment of maksukyvykkeestä involves a comprehensive evaluation of an individual's or company's assets, liabilities, income, and expenses. Finnish law distinguishes between two primary states of insolvency: ceases to pay (maksukyvyttömyys) and over-indebtedness (ylivelkaantuneisuus). Ceases to pay signifies an inability to meet due payments as they fall due, even if the overall value of assets might exceed liabilities. Over-indebtedness, on the other hand, refers to a situation where the total liabilities are greater than the total assets, and the individual or entity cannot reasonably foresee a way to pay off their debts.

The determination of maksukyvykkeestä is typically made by a court or a bankruptcy trustee. This assessment is fundamental for initiating insolvency proceedings, which aim to either liquidate assets to pay creditors or facilitate a restructuring of debts to allow for continued operation or repayment over time. The concept is designed to provide a legal framework for dealing with financial distress, protecting both creditors and debtors within a defined legal process.