Legal mechanisms for the implementation of mining licenses in bankruptcy cases

Abstract

A license for subsoil use is an extraordinary asset, and its realization within the framework of bankruptcy proceedings requires consideration of its specific properties. Adhering to certain procedural rules by the insolvency practitioner will allow them to optimize the process of selling the license and beneficially replenish the bankruptcy estate. In particular, the article emphasizes the necessity of thorough monitoring of the legal entity regarding the presence of licenses and, in the event of discovery, the requirement to sell this intangible asset only as part of the property complex (otherwise, the sale of equipment without a license is considered a violation of the property rights of creditors). Additionally, when publishing a notice about the auction, the insolvency practitioner should include significant information related to the license (requirements for the buyer's status, license duration) to fully inform potential buyers and mitigate the risk of the auction being deemed invalid. The article also proposes a preferred legal fate for the sold license — its "cleansing" from violations by the previous licensee (the bankrupt) to enhance its attractiveness for buyers and, as a result, maximize the replenishment of the bankruptcy estate.

References

1. Vakulenko, A. (2019). Transition of rights to use subsoils during bankruptcy. Stages, procedures. Corporate lawyer, 9, pp. 38–41 (in Russ.).
2. Malysheva, I.A. (2018). Judicial control over the legality of decisions on the provision, refusal to provide, and reissuance of licenses. Economic Justice in the Ural District, 4, pp. 137–166 (in Russ.).