Regulatory Alerts1995-05-12 | ПФ-1154Added
On Measures to Increase the Responsibility of Heads of Enterprises and Organizations for Timely Settlements in the National Economy
The Decree defines overdue receivable debt as funds not received for delivered goods, performed works, or services after ninety days from the date of delivery or performance, excluding cases established by legislation. It mandates very strict administrative, material, and criminal liability for heads and chief accountants of enterprises with a state share in authorized capital of 50 percent or more who allow overdue receivable debt to exist. The State Committee for Strategic Development and Statistics is required to implement monthly statistical reporting on receivable and payable debt starting from July 1995, while the Prosecutor General's Office and Supreme Court are tasked with intensifying supervision and initiating bankruptcy cases for insolvent entities.
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