Bankruptcy Solicitor Near Me

he accounting reconstructions are those operations aimed at reconstructing the data contained in the accounting statements that are part of the financial statements, that is, the data contained in the balance sheet and income statement of a company. These accounting reconstructions are necessary in the event, for example, of bankruptcy or bankruptcy of the company.

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Description Accounting Reconstructions


The state of insolvency produced by a bankruptcy situation , which must be certified by a bankruptcy court, and which consists in the inability of the entrepreneur to honor the commitments made both in terms of normal payments and as regards the obligations at set deadlines , can be further aggravated by bankruptcy fraud.

The bankruptcy provides for an insolvency procedure which, through the due accounting reconstructions, allows to identify all the creditors, who are in an equal position unless there are pre-emptions such as pledges or mortgages. 

Accounting reconstructions thus serve to ensure that all creditors see their economic entitlement resolved; an amount that the entrepreneur in a state of insolvency is no longer able to satisfy.
Payments take place after the bankruptcy trustee proceeds with the liquidation of the bankruptcy assets and the subsequent distribution of the residual assets.

The accounting reconstructions they are fundamental in these delicate processes, as the entrepreneur can also maliciously steal part of the assets, thus invalidating the possibility of creditors being compensated.
If this operation takes place, which can only be identified through a correct accounting reconstruction, the crime of bankruptcy is configured. 

In turn, bankruptcy can be classified as fraudulent, when there has been conscience and willingness to commit willful misconduct, or simple bankruptcy, that is, when the damage was committed through recklessness, negligence or inexperience. In any case, the accounting reconstruction of the company's financial statements establishes the characteristics of the bankruptcy.

However, there may also be cases in which the entrepreneur, in order to avoid viewing the accounting records and the related accounting reconstruction operation, destroy all documents in its possession, steal or falsify them. 

Conduct that prevents creditors from being able to exercise their rights, and which is considered a crime and punished on the basis of Article 10 of Legislative Decree 74 of 2000.

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