Maksukyvyttömyysmenettelyjä

Maksukyvyttömyysmenettelyjä refers to legal procedures and processes undertaken when an individual or a company is unable to meet their financial obligations. These procedures aim to manage the situation in an orderly manner, protect the rights of creditors, and, where possible, allow the debtor to resolve their financial difficulties or provide a structured way to liquidate assets.

In Finland, where the term is commonly used, these procedures include both individual and corporate insolvency. For individuals, this can involve debt restructuring (velkajärjestely) where a court-approved plan is made to repay debts over a specified period, or personal bankruptcy (konkurssi) where an individual's assets are sold to cover their debts. For companies, the primary procedures are bankruptcy (konkurssi) and corporate restructuring (yrityssaneeraus).

Corporate bankruptcy involves the liquidation of a company's assets to pay off its creditors. A bankruptcy trustee is appointed to manage this process. Corporate restructuring, on the other hand, is designed for viable companies that are facing temporary financial distress. It involves creating a plan to reorganize the company's operations and debts, often with the aim of continuing the business. The goal is to achieve a lasting solution that allows the company to recover.

The specific procedures and their application are governed by Finnish law, primarily the Bankruptcy Act (Konkurssilaki) and the Act on Corporate Restructuring (Laki yrityksen saneerauksesta). These laws outline the conditions for initiating proceedings, the roles of various parties involved, and the steps to be taken. The overarching principle is to provide a fair and equitable resolution to situations of financial incapacity.