In some situations, a receivership must be appointed over the company’s operations, the duties, objectives and tasks of which must be clearly and unambiguously specified. It may not be appointed on the basis of unclear premises or on the basis of an unjustified request. A receivership is a very serious solution that must be based on clear foundations.
A receivership over the company must be established by a court. Of course, before such a decision is made, the court must consider all the pros and cons, but at the same time, it must unequivocally establish the purpose for which this board is to be established. It cannot act in a way that is not in any way justified in advance.
A company receivership is introduced when the company has problems, the entrepreneur is suspected of obtaining his property from illegal sources or when there are reasonable suspicions that the company serves to hide money from illegal sources. The receivership of the company’s assets introduced in such a situation allows for controlling the company’s finances, their origin, flow and turnover. At the same time, it is a way of securing the company’s assets without taking the company out of business, which could possibly make the company regain its balance and return to full working order in a situation where management was introduced due to its poor financial condition.
In the light of the latest regulations, on the basis of prosecutor’s suspicions, a private enterprise may introduce receivership even if the enterprise is not charged.
The purposes of introducing receivership depend on the reason for which it was established. It can form part of a company’s bankruptcy proceedings, especially in the case of state-owned enterprises. The task of the receivership is to supervise the company’s assets. Its purpose is to systematically and continuously conduct supervision, analyze the sources of income and goals for which money is spent, and analyze the way the company is managed. As a result, the receivership may file for bankruptcy if it decides that this is what should be done. However, if the company regains its balance and begins to generate income again, the administrator may decide not to initiate proceedings, and thus the company is not threatened with a case in a commercial court.
If, however, the management board was established due to prosecutor’s suspicions against the entrepreneur, its purpose is to constantly analyze the company’s financial situation in terms of sources of its income and expenses to determine whether the company actually benefits from the crime for which the entrepreneur was suspicious.
When the company’s financial situation is bad and the company has more and more unpaid liabilities, recovery proceedings may be initiated before bankruptcy proceedings are initiated. Its purpose is to reduce the debts of the entrepreneur and satisfy the claims of creditors on the basis of a specific repayment plan and program that the entrepreneur should implement. In order to efficiently, effectively and efficiently implement the recovery plan, receivership may be introduced. The manager established in this way is to supervise the way the enterprise is run and the way its finances are managed. Its task is also to assess and verify that the agreed recovery plan is being implemented. Thanks to the introduction of the management board, the company can regain its balance and financial liquidity, and bankruptcy proceedings may turn out to be unnecessary.
The receivership is a solution imposed on entrepreneurs somewhat from above, from the outside. However, it may turn out to be the only correct and effective solution at a given moment.