A foreign company which was sold to a resident of the Russian Federation.


Brief description of the situation:

  • Mutual debt forgiveness agreements have been entered into.
  • There are unclosed balances prior to the conclusion of debt forgiveness agreements.
  • There are old balances under currency contracts with non-residents debtors and creditors.
  • There is a delay in repatriation of proceeds.
  • The company is threatened with fines.

Required: To deregister the contracts with minimal penalties.

Work stages

  • Analyzing balances for compliance with contracts
  • Analyzing contracts, including debt forgiveness contracts, identifying overdue and non-overdue, problem payments subject to penalties.
  • Preparation of missing documents, according to the contracts: acts, supplementary agreements for prolongation of terms, set-offs and organization of signing of documents.
  • Transfer of documents to the bank.

Result: all contracts are off the books with no penalties.