This campaign follows on from its predecessor by giving more substance to the “Bank in your Favour” as it reveals how Knab is helping its clients to get the most out of their money.
“Our previous campaign was primarily focused on conversion and this contributed to a tripling of our customer base. This time we wanted the campaign to put Knab into context and highlight the fact that we are an online challenger,” says Leslie Hogeveen, marketer at Knab.

“In addition to the requested content, we also looked for a way that visually supports Knab in its role as an online bank. We ultimately chose to portray the dynamic lifestyle of the target audience through their interaction with online devices and screens. There are three 40-second commercials, each one of them centred around one of the following Knab bank advantages: double the interest (on both current and savings accounts); a fixed monthly banking fee with no extra charges; and the online bank switching service,” Fitzroy’s Jur Baart explains. “With such a distinctive campaign, we can see it surpassing the success of the last one.”

Creative Credits:
Ad Agency: Fitzroy, Amsterdam

Millennium bank was seeking a way to boost usage and awareness for their online banking services. At the same time, the bank needed to set aside its corporate image and open new channels of communication using viral videos.

Creatives at Socialab came up with a solution:
Meet Michael. Michael is an ordinary squirrel leaving in the woods. He works collecting acorns to provide for himself and his family. He is hard working, responsible and respects his home and his fellow animals. In this second video, the real issues of using paper statements come in the spotlight. The forest is in danger and Michael is in desperation. Until the owl arrives for the rescue…

Credits:
Advertising Agency: Socialab, Greece
Account Director: George Anagnostpoulos
Business Unit Director: Tasos Veliadis
Creative Directors: Eva Bouzi, Vassilis Eliopoulos

In the business world it's said that everyone is paid in two coins: cash and experience. Well, we'd rather take notes for the two new spots in our 2013 installment of the beloved Bank Coop Origami commercials.

Short stories need big characters. The underwater performers show emotions and proof that little ones more than ever have the chance to win. Composer Alex Kirschner supports the tension of the film with a score recorded by an orchestra of 50 people conducting the ever modern battle big versus little.

Credits:
Client: Bank Coop AG, Basel/Switzerland
Marketing: Mathias von Wartburg (Leiter Competence Center Marketing),
Barbara Guertler (Leiterin Kommunikation)

Creative Ad Agency: Ruf Lanz Werbeagentur AG, Zurich/Switzerland
GF/CD: Danielle Lanz
AD: Marcel Schläfle
Beratung: Nathalie Jakober, Sebastian Durband
Production: Markenfilm Schweiz AG, Zurich/Switzerland in Co-Production with Sehsucht GmbH, Hamburg/Germany
Director: Ole Peters
Producer: Christiane Mülstegen, Uli Scheper
Concept & Character Design: Julius Brockelmann
Art Department: Axel Brötje, Hannes Geiger, Vitaly Grossmann, Anja von Harsdorf, Dominik Wieschermann
3D Lead: Markus Geerts
3D Artist: Daniel Jahnel, Timo von Wittken, Heinrich Löwe, Sebastian Welti, Martin
Chatterjee, Jakob Schulze-Rohr, Dimosthenis Vagias, Dirk Mauche
Compositing: Florian Zachau
2D Artist: Beatrice Wellenbrock
Making-Of: Axel Brötje, Nils Wesch
Music: Alex Kirschner, kirschnermusic GmbH, Zurich/Switzerland

AIB Bank (Allied Irish banks) turned to Dublin based agency Rothco to create it's latest commercial, the team at Rothco picked up their iPhone 5 and went to work. The result is the AIB "Bridge sunrise" TV advert using nothing but the iPhone...not bad.

This 30 second TV advert for AIB features Mobile Banking at it's core, and shows how quickly customers are adopting this new technology to bank on the move. This ad was shot using a smartphone on location in Dublin City by Rothco.
The ad features the track 'Petardu' from Dublin based band Delorentos most recent album 'Little Sparks'. They were this years Meteor Choice music award winners.

Damian Hanley, creative director at Rothco told Mashable "It was a big decision to shoot the ads on the iPhone. But once we did some preliminary tests, we knew that they were able to deliver high quality footage".

Credits:
Creative Advertising Agency: Rothco, Ireland.

Peroni Nastro Azzurro, a star in leading brewer SABMiller's international premium brand portfolio, unveils its new global advertising campaign, Storie di Stile (Stories of Style) in the brands 50th anniversary year.

Inspiration to create the first premium Italian beer came under the leadership of Carlo Peroni through a unique combination of the triumph of the SS Rex, which won the 'Nastro Azzurro' (Blue Riband) in 1933, the cultural richness of living in Rome, and the feeling of optimism and creativity that epitomised the 1960s.

Credits:
Client: SAB Miller
Agency: The Bank
Production: The Bank
Director: Ian Cassie

Will Arnett is the voice over of the new Bank Of America commercial, the ad entitled "Portraits" takes a: 60 second journey of an evolving family through the decades.

Credits:
Tagline: "Life's Better When We're Connected.
Ad Agency: Hill Holiday, Boston
Chief Creative Officer: Lance Jensen

Creative ad agency Socialab creates a fun animated spot for Millennium Bank in Greece in an effort to boost their online web banking system rather than going in to an actual branch.

Socialab created a fresh way of communication using a fluffy main character that viewers will love. In this first spot, the character goes through the trouble of paying his bills the old fashioned way, by standing in line and wasting time, till a wise owl shows him there's a better way.

Credits:
Advertising Agency: Socialab
Account Director: George Anagnostpoulos
Creative Director: Eva Bouzi, Vassilis Eliopoulos

The new campaign for MidFirst Bank via agency Riester connects the company’s emphasis on loyalty and deep sense of purpose to the passions of its customers. This desire to achieve performance at the highest level is lovingly illustrated in the repair of a classic GTO “The Judge” featured in “Car.”
Lucky Post editor Wes Williams elaborates, “The spot connects to a universal feeling of passion through the narrative of the classic car and its owner. The anticipation starts with the opening of a garage door and concludes with the GTO’s final polish. Whether you can wield a wrench or love to edit, we’ve all had those moments.”
Credits:
Advertising Agency: Riester
Agency Producer: Robert Farthing
Executive Creative Officer: Tom Ortega
Senior Art Director: Paul Svancara
Writer: Jon Resheske
Production Company: Directorz
Executive Producer: John Gilliland
Director: Jeff Bednarz
Post: Lucky Post
Editor: Wes Williams
Assistant Editor: Elizabeth V. Moore
Graphics: Seth Olson
Color/Conform: Brian Buongiorno

Ad agency Risdall in Minneapolis called on the comedic and casting talents of LIMEY Director Nick Jones for its hilarious, new commercial campaign for Affinity Plus. In “laugh-out-loud” terms, the two-spot campaign outlines just how far Affinity Plus will go for clients. The 30-second spots, entitled “Surrogate Mother” and “Human Cannonball,” are currently airing regionally.

With its new commercials, Affinity Plus unabashedly takes a shot at its larger banking competitors via parody. The first spot, “Surrogate Mother,” parodies the traditional testimonial spot, opening with a “real” couple at home explaining how “their” bank goes the extra mile for them. The story takes an unexpected turn as they explain that at Affinity Plus, their banking agent goes so far to help her clients that she happily carries their baby. In “Human Cannonball,” when an Affinity Plus Account Manager asks what else he can do for his client, he finds himself stuffed into a cannon and takes flight.

Brave comedic parody from a credit union makes for great fodder for a comedy Director like LIMEY’s Nick Jones. Well-known for his stellar casting eye, Jones was able to work with JR Casting in Minneapolis to find just the right actors for this campaign, and their performances truly bring the spots to life. It was of particular concern for Director and creative team alike that the viewer got the parody. Affinity Plus as a credit union were very comfortable taking pot shots at the “big banks,” but it had to be handled just right.

“We all --agency and Production Company alike — had a great deal of fun shooting these spots together,” says Andrew Denyer, Executive Producer/Owner of LIMEY. “The scripts were particularly well crafted when we received them and Nick certainly managed to take them to the next level.”

“It was a blast!” comments LIMEY Director Nick Jones. “The scripts were a dream to receive, and even more so to get the green light to shoot them. The ideas were so strong from the outset, that it was just a real pleasure discussing how to make the films unique, original, funny and totally surprising. What could be better than discussing how to top a surrogate mother gag with a ‘pregnant man’ gag.”

According to Jones, the ‘Human Cannonball’ spot was the more intense of the two. Visual effects, stunt work, audience, dialogue, lighting changes, etc, were all incorporated into the spot, and shot in just one day. “All in all, a great agency, great fun, and we ended up with some really great commercials. I’m chuffed!” concludes the Director.

Credits:
Client: Affinity Plus
Spot Titles: “Surrogate Mother”: 30; “Human Cannonball”: 30

Ad Agency: Risdall/Minneapolis
Creative Director/Art Director: Matt Bergen
Copywriter: John Neumann -
Producer: Tammy Auel
Production Company: LIMEY
Director: Nick Jones
Executive Producer/Producer: Andrew Denyer
Director of Photography: David Schnack
Editorial Company: Schnitt, Inc
Editor: Charley Schwartz
Producer: Jill Asp Dotseth
Post Production Companies
Ring of Fire
Drive Thru

Credit Unions of Canada will have you Dinging from Sea to Sea for free as explained to us via this new ad campaign created by the Ad Agency Dead Famous.

Belonging to a national ATM network means you can bank ding free at credit unions and other financial institutions across Western, Central and Eastern Canada. Just look for a ding free sign on any participating ATM, and say goodbye to those pesky surcharge fees.

Credits:
Advertising Agency: Dead Famous, Vancouver, Canada
Creative Directors: Mike Fiorentino, Michael Bryden, Chris Kostyal
Director: Shaun Lawless
Assistant Director: Scot Proudfoot
Animation: Hardedge Creative
Post Production: Bear Studios
Make-up and Hair: Jenn Kaminski
Styling: Tanus Lewis

Today sees the launch of a new ad campaign for garden wood care brand Cuprinol. The repositioning kicks off with a charming and surreal campaign by 18 Feet & Rising, which champions their Garden Shades range, urging people to cheer up their gardens.

The first push is 'Whimpering Garden', a 30” TV ad in which an unloved garden shed is cheered up with a lick of Cuprinol.

In the ad, a couple is woken up by what sounds like a crying baby, but actually turns out to be their distraught shed. After the husband tries, and fails, to pacify the weeping shed with a giant bottle of milk, the wife produces a tin of Cuprinol which works a treat. The spot’s strapline is: “For protecting and brightening your garden. Cuprinol. Cheer it up.”

The ad, directed by Thai star Suthon Petchsuwan, highlights the emotional pull of the AkzoNobel-owned brand, which boasts a 94-strong colour range, as well as a rich heritage in practical wood protection. The spot will be on air in the lead up to the Easter and May bank holiday weekends, and will be available online.

18 Feet & Rising developed the idea behind the 'Cheer It Up' positioning, as well as the TVC and its digital amplification.

The brand re-launch also includes a new logo and new packaging across all its products, designed by Brand design consultancy Springetts, and the launch of a new website on 27 March developed by AnalogFolk.

Along with its new brand identity, Cuprinol is launching new products this year, including ‘Less Mess Fence Care’ and next generation garden shades, with four-year weather protection. In addition to the 34 existing shades, the brand is also launching 60 new colours for the Garden Shades range.

Kathryn Ledson, Senior Marketing Manager AkzoNobel, said: “Cuprinol has always been passionate about protecting garden wood and enhancing outdoor spaces. We want our new campaign to show people how simple it can be to add personality and colour to outside spaces and inspire people to ‘Cheer It Up’! With the new range of Garden Shades, it’s the perfect time to brighten up Britain’s gardens!”

Rob Ward, Head of Strategy at 18 Feet & Rising, said: “Cheer it up' repositions the category from a boring, brown chore to a colourful, emotional reward that encourages the nation to bring out the best in their gardens.”

Credits:
Client: Kathryn Ledson, Senior Marketing Manager
Creative Director: Anna Carpen
Creatives: Anna Carpen, Stephen de Wolf & Behrad Taherparvar
Account Director: Adrienne Little
Strategy: Rob Ward
Agency Producers: Emily Hodgson & Julia Methol
Director: Suthon Petchsuwan
Producer: Hugh Bacher
Post Production: Mum Films
Media Planning/Buying: Mediacom
Production: TWC Films

The white house is not intended to interfere with process of decision-making by a management of American autoconcern General Motors about sale of European branch Adam Opel GmbH, reports Reuters.

In some respects the business world has never been smaller. Globalization, mass communication and the internet have all put new markets within reach for businesses of all sizes. But linguistic and cultural barriers still remain, and marketers need to take care when venturing across these divides.

Lost in translation There are numerous instances of companies whose message has been lost in translation. When Pepsi took their slogan “Come alive with the Pepsi Generation” to Taiwan it was mistranslated as “Pepsi brings your ancestors back from the dead” — a claim that even the staunchest of Pepsi fans might have difficulty backing up. Not to be outdone, Kentucky Fried Chicken's famous “Finger lickin' good” was translated into Chinese as “Eat your fingers off.”
Companies are advised to check that their actual brand and product names give the right impression abroad. Ikea, for example, brought out a mobile work desk for kids. The name 'Fartfull' suggested speed and mobility in Swedish, but caused more of a stink elsewhere.
Good quality translation is clearly essential when taking your brand abroad. This ideally means working with native speaking translators. They will not only avoid linguistic errors, but can also identify any cultural issues and nuances that might otherwise be missed.
Attention to detail is obviously important in a major international marketing campaign, but the same rule should also be applied even if you are just localizing your website. Automatic translation tools such as Google Translate can be useful for getting the gist of foreign texts. But they’re prone to misunderstandings, contextual errors, and do not deal well with colloquialisms, slang, linguistic variations or commonly used acronyms and abbreviations.
English might remain the single most widely used language online, but it still represents only around a quarter of total usage. Studies have shown that customers place far more trust in websites in their own language. Localization can help you break into new markets, but a badly translated site can do as much harm as good.
Cultural issues There can also be issues arising from a lack of cultural understanding or foresight. As well as translating the language, consider the use of images carefully. Sexually charged images and innuendo can end up being more risky than risqué, and even images that may be considered relatively innocuous in your home market can cause grave offence in another.
Even the use of color can have different connotations within different cultures. In most of the western world, for example, white is associated with weddings and purity, while in India, Japan and China it is more likely to be associated with death and mourning. In Ireland, orange can have political and religious connotations. Using an inappropriate color scheme is unlikely to cause rioting in the streets but it can set the wrong tone and trigger a negative subconscious response in viewers.

A knowledge of slang, colloquialisms and naughty words in particular can also come in handy. Like many other companies, Swedish medical suppliers Locum sent Christmas cards to their customers. It's a little touch that can mean a lot — but their seasonally loved up logo took on a different meaning in North America and the UK.
The above example might have been no more than a faux pas that raised a chuckle and provided a few red faces, but some mistakes are far more serious. They can also occur not just when dealing with foreign markets but also within a single multicultural market.
In 2002 the British sportswear company Umbro (which would later be bought out by Nike) was forced to withdraw its Zyklon range of running shoes and issue a hasty apology. 'Zyklon' means 'cyclone' in German, which may have been an appropriate name for a running shoe if not for some unfortunate and horrible connotations. Zyklon B was the trade name of the poison used by Nazis to murder Jews and other concentration camp victims during World War II.
Dr Stephen Smith, co-founder of the Beth Shalom Holocaust Centre in Nottinghamshire, said: "Commercial appropriation of words carrying connotations of mass murder is utterly unacceptable.”
It’s important to give careful thought to potential cultural oversights and misunderstandings. Native-speaking translators can again help avoid mistakes and faux pas and, at the very least, material should be tested with a sample group from the target market. Without a little attention to detail it can be relatively easy for a company to either make itself a laughing stock or, even worse, to cause serious offence and alienate a huge swathe of potential customers.
About the author Christian Arno is the founder of Lingo24, a top translation service in the USA. Launched in 2001, Lingo24 now has over 150 employees spanning three continents and clients in over sixty countries. In the past twelve months, they have translated over forty million words for businesses in every industry sector, including the likes of MTV, World Bank and American Express. Follow Lingo24 on Twitter: @Lingo24.

Getty Images touches people in a new campaign created by AlmapBBDO. It gives continuity to the awarded campaign "From Love to Bingo" to divulge the videos from the image bank that is the world leader in the creation and distribution of visual content.

Credits
Advertiser: Getty Images
Title: 85 seconds
Product: Video Stock
Ad Agency: AlmapBBDO
General Creative Director: Marcello Serpa, Luiz Sanches
Creative Director: André Kassu, Marcos Medeiros, Renato Simões e Bruno Prosperi
Creation: Marcos Kotlhar, Sophie Schoenburg
Agency Producer: Vera Jacinto, Rafael Motta, Charles Nobili
Production Company: ZOLA
Director: João Simi e Marcos Kotlhar
Head of Art: Gustavo Vockos
Research: Marcos Kotlhar, João Simi, Procuradoria de Filmes, Beto Araújo, Sacha Bastos, Gustavo Vockos
Motion: Marcos Kotlhar, João Simi, Daniel Lemos, Rafael França
Music: Satélite
Music Producer: Kito Siqueira, Roberto Coelho
Editor: Beto Araújo e Sacha Bastos
Executive Producer: Jimmy Palma
Post Production: CLAN vfx
Project Manager: Markinhos Fagundes, Claudio Costa
Production: Amelinha Lobo, Pedro Bueno
Account Supervisor: Cristina Chacon, Tássia Massumi Nishida
Media: Paulo Camossa, Patricia Moreton
Advertiser's Supervisor: Renata Simões

Acer unveils an Experiential Campaign across Europe to encourage shoppers to ‘Explore beyond limits’

Shopping centres across 25 different locations in Europe will play host to a series of interactive experiential stands where Acer will showcase its comprehensive range of Touch-and-Type products with Windows 8.

The stands, which have been created by Mother, are an extension of the current Acer Aspire S7 campaign in which Megan Fox explores her hidden passion for marine biology and uses her Acer Aspire S7 to develop software that allows her to talk to dolphins.

From the front, the stand looks just like a real dolphin tank and it contains a photo realistic dolphin animation running across a bank of up to 12 screens. The dolphin shows off and chats to consumers through Acer’s Aspire S7 and Megan’s software, encouraging them to explore more. At the rear of the stand, is Acer’s latest range of Touch-and-Type products using Windows 8, including tablets, UltrabookTM, notebooks and All-in-One desktops. Customers are free to explore the products and there is also a team of experts, dressed as scientists on hand to guide people around the new products.

“We are really proud of Acer latest range of Touch-and-Type products using Windows 8 and we wanted our customers to be able to experience them in an engaging yet comfortable environment,” emphasises Oliver Ahrens, Acer EMEA President. “Seeing Acer’s latest Windows 8 touch-and-type products from a distance isn’t enough, we wanted customers to be able to experience them first hand and explore what this new technology can offer. Our experts will guide customers through this journey.”

Kieran Bradshaw, strategist from Mother said, “We wanted to use Megan Fox's co-star from the Acer S7 TV spot, Zenya the Dolphin, again—this time to help support the Windows 8 launch and the new Acer touch-type range. Zenya will draw in the crowds at over 20 different locations across Europe and bring the audience witty dolphin banter and an all-new product range”.

The installations will be situated in shopping centres across Europe until December, and can be found in the UK in the Westfield (Shepherd’s Bush) until 4 December and then in Bluewater, the Trafford Centre and the Bullring from 6 until 24 December.

Credits:
Created by the creative agency, Mother.

We Are The People,
who have built a whole new place to live, dream and be.
We employ ourselves, and vote with our money.
Our phone is our wallet.
We can spend Bitcoin with a tap, without a pocket
We can buy and sell and rent and send
And lend a twenty to a friend
from the coffee bar and share-car, We Are
unstoppable, with our thumbs.
Just One Touch to buy just about anything.
No need for filling billing info time-after-time
or remember password rhymes
to get that dress, a cabin, a concert ticket.
We live on all devices, and are as mobile as nature intended.
No need to send any details or data,
Not even when we pay each other.
We have magical money, not bound by bank or bill
It’s instant, simple, and secure enough,
to get out of the way.
Consider yourself invited to 'The People Economy'

NEW YORK, NY—As one of the nation’s top academic medical centers, NewYork-Presbyterian Hospital is well known for the latest in innovative clinical research and advanced medical treatments. What was not well understood, however, was the way its doctors, nurses and staff routinely go above and beyond to care for their patients before, during and after surgery. In fact, many people believed quite the opposite was true. This esprit de corps is critical to what these individuals do every day, and has resulted in countless incredible medical outcomes for patients and their families.
To showcase this remarkable standard of care, Munn Rabôt asked real patients to share their inspiring stories in television commercials for NewYork-Presbyterian as part of the hospital’s “Amazing Things Are Happening Here” campaign, introduced in 2011. To select patients, Munn Rabôt uses a comprehensive screening process where patient cases supplied by the hospital are reviewed, and patients are then interviewed in consideration for the final filming of the ads. In order to truly emotionally engage the viewer with these stories of extraordinary personal and medical care, we use 60-second ads so that these narratives can completely unfold.

As we’ve learned throughout the duration of the “Amazing Things” campaign, no two stories are the same, and any patient could have an unbelievable experience to share. One such patient we met who had a compelling story was retired Lieutenant Colonel John O’Brien. Now 52, John had served four tours as a Special Operations officer in the Middle East. The recipient of a Purple Heart and a Bronze Star for his service to his country, John is without a doubt an American hero—but not without a cost.
As John explained during our in-depth interview, the horrors seen during war can leave both the mind and the body ravaged. Over 500,000 United States participants in the Middle East conflicts may suffer from Post-Traumatic Stress Disorder (PTSD), and John O’Brien is one of them. As Munn Rabôt’s CEO, Orson Munn, states, “Many of these individuals are severely wounded, and, while it is not as apparent as a missing limb, having PTSD can be just as crippling and disabling.”
Confronting the terrors of war—especially when returning home after four tours—takes an entirely new kind of bravery and courage. NewYork-Presbyterian Hospital has been working diligently to pioneer new medical and virtual therapies to help those with Post-Traumatic Stress Disorder. According to Munn, once he heard that the hospital was leading a clinical trial to help returning soldiers cope with PTSD, he “wanted to get the word out” because “these people have served our country to protect our freedom—the least we can do is give them the help they need and the support they deserve.”
NewYork-Presbyterian will launch five advertisements beginning April 29th accompanied by an online microsite featuring retired Lieutenant Colonel John O’Brien and his medical team, Drs. JoAnn Difede and Judith Cukor. With these unique ads, NewYork-Presbyterian and Munn Rabôt draw awareness to the common biases associated with seeking mental health treatment. Lt. O’Brien unmasks the stigma associated with PTSD treatment—the perception that seeking therapy means you’re “weak.” In the candid, engaging manner that the “Amazing Things” campaign is known for, John explains his struggles with PTSD and his treatment at NewYork-Presbyterian: “[It’s] brought me to a point in my life where I can really start to move on and do the things I want to do.

About NewYork-Presbyterian Hospital
NewYork-Presbyterian Hospital ranks #7 on U.S. News & World Report™’s Honor Roll of America’s Best Hospitals. The institution is comprised of two acclaimed medical centers, NewYork-Presbyterian Hospital/Columbia University and NewYork-Presbyterian Hospital/Weill Cornell Medical Center and is affiliated with two Ivy League medical institutions, Columbia University College of Physicians and Surgeons and Weill Cornell Medical College.
About Munn Rabôt, LLC
Founded in 1995, Munn Rabôt is a full-service advertising agency based in the Flatiron district of Manhattan. The agency is renowned for its work with clients like the New York Philharmonic, BMW Motorcycles, Bessemer Trust, Citigroup Private Bank, Land Rover of North America, the New York State Department of Tourism and Emory Healthcare, among others.

The influential collector of donations for Democratic party of the USA is arrested for swindle, writes The New York Times.

FirstBank will urge all Super Bowl viewers to take a washroom break during the game in their 2012 Super Bowl commercial contribution.

“At FirstBank, customer service is our priority. So if you’re a FirstBank customer worried about missing one of the exciting commercials, or the game time, now would be a great time to go to the bathroom.” (Long pause.) “Seriously.” (Long pause once again.) Three seconds from the commercial’s end, a supered tag adds that FirstBank has “better customer service.”

Credits:
Advertising Agency: TDA_Boulder, Boulder, USA

Bankruptcy Trends

For those who has failed in business and consequently cannot settle payments on the debts, the law provides insolvency proceeding. Sense of this procedure in giving the chance to the debtor to recover ability to meet payments, well and if it it's impossible — to allocate fairly available assets between creditors. Skillful use of insolvency proceeding allows one to receive a respite and with honor to solve financial problems.
If not to go into detail — an insolvency proceeding essence it's possible to reduce to disposal of excessive debts. Thus the state acts only as the arbitrator. The main parties in the course of bankruptcy are the bankrupt and its creditors. In our country arbitration courts are engaged in bankruptcies.

Insolvency Proceeding

By our legislation the initiator of bankruptcy can be both the creditor, and the future bankrupt which has realized impossibility to pay own credits. Thus, bankruptcy can be caused not only inability to pay off any debt (for example, a bank loan), but also impossibility to perform current payments — tax, rent, etc (Chapter 7).
If judges basically agree with necessity of bankruptcy the arbitration managing director interferes with process. At different stages of insolvency proceeding the post of this person can be called differently: the temporary manager, administrative or competitive managing director, but an essence from it does not change.
The arbitration managing director should secure the most complete satisfaction of requirements of creditors: or to recover ability to meet payments of debtor enterprise, having performed the rehabilitation plan, or to settle payments with creditors.
After calculations are finished, the bankrupt ceases the existence. And together with it cease existence and all its debts which it was not possible to pay. As a rule, this action will make a professional bankruptcy attorneys work out, thus will show obvious tears in the legislation, or will underline legal talent of the lawyer.