Guidelines of resolving financial problems of enterprises

Straipsnyje analizuojama nemokių įmonių finansinė būklė bei jų finansiniai įsipareigojimai. Tai yra viena iš šiuo metu aktualiausių Lietuvos pramonės problemų, kuri įtakoja ir Lietuvos finansinių institucijų veiklą. Straipsnio tikslas - išsiaiškinti, kodėl dauguma nemokių, bankrutuojančių įmonių yra likviduojamos, o ne pertvarkomos, siekiant išlaikyti jų veiklos tęstinumą. Pateikti pasiūlymai, autoriaus nuomone, turėtų prisidėti prie efektyvaus įmonių finansinių problemų sprendimo.This paper examines general financial status of insolvent enterprises in Lithuania. The main purpose of this article is to propose the most effective ways of reviving such companies. A variety of ways (restructuring, liquidation, etc.) related to improving the financial status of insolvent companies have been considered. The reasons that influenced the insolvency of such companies and intentional bankruptcies have been analysed as well. The majority of insolvent enterprises are being liquidated. The author is trying to find out the reasons of such a tendency in Lithuania. There are no possibilities to repay all the debts of insolvent enterprises to creditors because companies that are heavily in debt usually do not have enough assets which value could cover all the debts. The article puts forward some ideas of successful restructuring of insolvent enterprises. It is necessary: to take notice of potential financial problems of enterprises in time; to make essential decisions about restructuring insolvent enterprises in time; to institute on time proceedings against companies which are heavily in debt; to liquidate companies which got bankrupt and cannot be revived. The ideas of facilitating the financial status of insolvent enterprises have been analysed as well. The author comes to the conclusion that, if companies are not interested and do not induce the restructuring process themselves, there is no purpose to restructure and revive such companies