EXPLANATIONS OF PRESIDIUM OF THE SUPREME ECONOMIC COURT OF UKRAINE

of August 21, 2001 No. 02-5/926

About procedure for institution of cases on bankruptcy on statements of bodies of the State Tax Service

For the purpose of ensuring identical and correct application by economic courts of articles 7-9 of the Law of Ukraine "About recovery of solvency of the debtor or recognition by his bankrupt" the presidium of the Supreme Economic Court of Ukraine considers necessary to explain procedure for the beginning of bankruptcy proceeding according to statements of bodies of the State Tax Service.

1. According to article 1 of the Law of Ukraine "About recovery of solvency of the debtor or recognition by his bankrupt" requirements about tax payments and charges (obligatory payments) can be satisfied by rules, the established this Law. On the called regulation bodies of the State Tax Service are creditors, and the taxpayer incapable to fulfill the obligations on tax payment and charges, - the debtor.

2. Case on bankruptcy is opened by economic court according to the statement of the creditor (including body of the State Tax Service) in the presence of the bases, the stipulated in Article 6 Laws of Ukraine "About recovery of solvency of the debtor or recognition by his bankrupt" i.e. if indisputable requirements of the creditor (creditors) to the debtor in total constitute at least than three hundred minimum sizes of the salary and these requirements were not met by the debtor within three months after established for their repayment of term if another is not provided by this Law.

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