Maksukyvyttömyysmenettely

Maksukyvyttömyysmenettely, often referred to as insolvency proceedings in English, is a legal process designed to address situations where an individual or a company is unable to meet their financial obligations. This can involve a situation where debts exceed assets or where the debtor simply cannot pay their debts as they become due. The primary goal of insolvency proceedings is to provide a structured framework for managing the debtor's financial affairs, distributing any available assets to creditors in an orderly manner, and potentially offering the debtor a fresh start or a supervised winding down of operations.

There are generally two main types of insolvency proceedings: liquidation (or bankruptcy for individuals) and reorganization (or administration for companies). Liquidation involves the sale of the debtor's assets to repay creditors as much as possible. Any remaining debts may be discharged, depending on the specific laws and circumstances. Reorganization, on the other hand, aims to allow the debtor to continue operating, often by restructuring their debts, operations, or both. This might involve negotiating new payment terms with creditors, selling off certain assets, or seeking new investment.

The specific procedures and terminology associated with maksukyvyttömyysmenettely vary significantly between jurisdictions. However, common elements include the appointment of an insolvency practitioner (such as a trustee or administrator) who takes control of the debtor's assets and manages the proceedings. Creditors are typically required to file claims against the debtor's estate. The process aims to ensure fairness to all parties involved, balancing the interests of creditors in recovering their funds with the potential for the debtor to resolve their financial difficulties.