The documents must relate to a clearly defined assessment date. For insolvency that has already occurred, the evidence needed includes, in particular, a current liquidity status, lists of due liabilities, bank statements, information on payment deferrals, and evidence of available financing. In the case of a future risk, include a reliable liquidity plan, contractual due dates, realistic revenue expectations, and documented scenarios. The company-register extract, corporate documents, and evidence of authority to act must show which debtor is concerned and who is permitted to act on its behalf. In addition, compile lists of assets and creditors, information on collateral, ongoing court and enforcement proceedings, and the most recent accounting records. Amounts and dates must match across the application, accounting records, bank documents, and lists; any discrepancies must be explained. The exact scope and form of the evidence to be submitted depend on the selected rehabilitation or insolvency proceedings and the identity of the applicant.
Evidence of the prerequisites for insolvency proceedings for a company in Georgia
The prerequisites for insolvency proceedings for a company in Georgia must be substantiated with current, consistent financial and corporate documents. The evidence should clearly demonstrate both the selected grounds for the proceedings and the debtor’s identity, assets, liabilities, and creditor base.
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The evidence must be organized around a single assessment date and the specific grounds selected for the proceedings. Current insolvency and a future risk to liquidity require different financial evidence. Unexplained discrepancies between the application, accounting records, bank data, and lists can significantly complicate the review of the proceedings.