Declaration of bankruptcy and initiation of bankruptcy proceedings
Name of the court: Specialized Interdistrict Economic Court
Almaty City Court
Applicant (Debtor): LLP "_______________"
BIN _______________ Manasa St., _______________
Representative by proxy
Sarzhanova Galymjana Turlybekovich +7 708 578 57 58,
info@zakonpravo.kz
a copy to the authorized body:
DGD in Almaty, Almaty, Abylai Khan ave. ______
Temporary Manager: _______________ +7 _______________
statement
on declaring bankruptcy and initiating bankruptcy proceedings
LLP "_______________" ( hereinafter referred to as the Debtor) was registered with the Ministry of Justice of the Republic of Kazakhstan on 14.12.2015, the head and the only participant is ...................... Type of activity retail sale of computers, peripheral equipment and software in specialized stores.
Justification of the inability to satisfy creditors' claims.
The main activity from 2016 to the beginning of 2019 was the sale of software developed by a foreign company for a commission fee. "_______________". All income from sales was sent to the supplier, as well as taxes arising from legal relations with a non-resident in the form of CIT and VAT for a non-resident. The debtor was forced to pay the CPN for a non-resident at its own expense, since the supplier did not assume obligations to pay taxes on the territory of the Republic of Kazakhstan under the contract. As a result, there was a debt on CPN and VAT for a non-resident.
According to the current tax legislation, a taxpayer does not have the right to offset VAT for a non-resident until it is fully paid, as a result of which VAT arrears for the sale of goods have arisen. With the occurrence of tax arrears, expenditure operations on the cash register and all current accounts of the Debtor were suspended. This completely eliminated the possibility of restoring solvency. Tax liabilities were formed as a result of issuing a tax notice on the repayment of tax arrears №_______________ from __.02.20__
As of the date of filing the application, the Debtor's tax arrears amount to 95,766,919 tenge, of which VAT arrears amount to 20,387,332 tenge, VAT arrears for non-residents amount to 23,747,861 tenge, CPN arrears amount to 51,631,726 tenge, according to Appendix No. 1 to this application. Due to the arrests of settlement accounts and the inability to continue business activities, the Debtor was unable to repay the debt owed to the software supplier company "_______________", in the amount of 18,985,981 tenge.
Declaration of bankruptcy and initiation of bankruptcy proceedings
At the moment, all partnerships have been severed by the foreign counterparty, and their restoration seems impossible even if the debt is repaid. Total accounts payable as of the application date: 112,697,757 tenge. There is no information about his property, which is encumbered by collateral, which is in property lease (lease) and (or) leasing. There is no money in all current accounts, there is no cash at the cash desk, account numbers and bank locations are indicated in Appendix No. 2 to this application. The debtor has no accounts receivable.
There are no obligations whose due date has not arrived. The Debtor's activity does not belong to the sphere of natural monopolies. The debtor is not a market entity occupying a dominant (monopoly) position in the commodity market. There are no lawsuits against the Debtor accepted for production by the courts. Information about obligations that are not due is not available. Attempts to restore solvency __.10.20__ of the year, the Debtor sent appeals to all 27 second-tier banks in Kazakhstan requesting a credit line to repay current debts and resume business activities. For more than a month, the Debtor also sent additional documents, applications, questionnaires, etc. to banks upon incoming requests, however, after studying the documentation, all interested second-tier banks refused to lend.
The main argument is that the bank's policy does not provide for the possibility of lending for the purpose of paying off taxes and other payables, lending is impossible with the available financial reporting indicators for the last 3 years. Also, on __.10.20__, the debtor sent a letter to a major creditor, Autodesk, about the possibility of continuing partnerships between the companies. A response to this letter has not been provided. The debtor sent an application to the Department of Internal Affairs of Almaly district. Almaty with a request to consider the possibility of granting a deferral/installment payment of the tax obligation. On 30.10.2019, the Debtor received an answer that the restructuring of tax arrears is possible only if a pledge is provided in an amount not lower than the amount of the Debtor's tax arrears. Unfortunately, the founder and the interested parties do not own the property of the required value. The repeated application also failed. Thus, the Debtor has exhausted all possible ways to restore his solvency and continue his business activities.
Calculation of stable insolvency According to paragraph 1 of Article 5 of the Law of the Republic of Kazakhstan "On Rehabilitation and Bankruptcy" it is established that "The basis for the debtor's application to the court for declaring him bankrupt and liquidation with the initiation of bankruptcy proceedings is his stable insolvency. Insolvency is sustainable if the debtor's obligations exceed the value of his property on the date of filing the application to the court and at the beginning of the year in which the application was filed, as well as at the beginning of the year preceding the year of filing the application, if the application was filed by the debtor in the first quarter of the calendar year." As of the date of filing this application, the total amount of the Debtor's obligations is 112,697,757 tenge. There are no assets (property).
As of __.01.20__, the total amount of the Debtor's obligations was 112,697,757 tenge. There are no assets (property). The debtor has concluded an agreement on the exercise of the powers of the interim manager with _______________, IIN _______________. Based on the above, guided by paragraphs 1 of art. 5 and art. 40-42 of the Law of the Republic of Kazakhstan "On Rehabilitation and Bankruptcy", an application for bankruptcy recognition and initiation of bankruptcy proceedings
Declaration of bankruptcy and initiation of bankruptcy proceedings
WE ASK THE COURT:
Recognize an LLP "_______________" bankrupt and initiate bankruptcy proceedings in this regard.
List of attached documents of the LLP "_______________":
An application with a note of receipt of it and the case file of the DGA of Almaty;
Appendix No. 1 List of debtors and creditors with indication of IIN/BIN, full name/full name, address, amount and date of debt formation
Representative by proxy of LLP "_______________ ______________/Sarzhanogv G.T.
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