Bankruptcy Guide
What is bankruptcy?
Court-recognized insolvency. For individuals — Bankruptcy Code of Ukraine (2018).
Conditions
Overdue > 6 months. Debt > 30 minimum wages. No assets to cover.
Procedure
1. Court application. 2. Debt restructuring (up to 5 years). 3. Sanation. 4. Proceedings. 5. Debt discharge.
Not dischargeable
Alimony, criminal fines, criminal damages, VAT debts (sole proprietor).
Cost
Court fee, insolvency practitioner fee (from 10 minimum wages), publication costs. Total from 30,000 UAH.