At the start of the planning work, the court decision and procedural rules should be reviewed to establish who is authorised to submit the plan and is responsible for doing so. The responsible person must have access to reliable information about assets, liabilities, creditors, collateral, contracts, employees, and ongoing financing. Company management and accounting provide operational data, but they do not automatically become the sole plan preparers. Depending on their procedural role, a Rehabilitation Manager may direct the preparation, review information, and coordinate discussions with creditors. Tax, legal, and business advisers may prepare individual sections, but this does not in itself make them formally responsible for the plan as a whole. Conflicts of interest and missing information should be disclosed and addressed. For every version of the plan, record the author, data date, assumptions, changes, and approvals. Responsibility for preparing the plan should be distinguished from the subsequent agreement, confirmation, and court consideration of the rehabilitation plan.
Responsibility for preparing a company's rehabilitation plan in Georgia
Who prepares and submits a company's rehabilitation plan in Georgia depends on the proceedings that have been opened and the responsibilities assigned. The plan preparer, company management, Rehabilitation Manager, and professional advisers must clearly document their roles and approvals.
VivAVia can make mistakes. Check important information.