The procedures of financial recovery undertaken at different stages of crisis management in mining are analyzed. At the pretrial readjustment stage, the procedures agree with the decisions made by management of a properly functioning business, should aim at prevention of bankruptcy and are to be connected with business rehabilitation implemented by creditors, owners and investors. In case of the supervision stage, the above-listed measures could be added with conversion and reorganization of production, sale of ineffective stocks and shares in registered capital of other businesses, optimization of manpower and accumulation of authorized funds. At the stage of financial recovery, the related schedule and depth repayment profile are developed. In case of external management, the effective law on bankruptcy provides a specific list of activities, which can also include any measures meant for the stages of pretrial readjustment, supervision and financial recovery. The article presents a case study of financial recovery in terms of Tuchkovsky Works of Construction Materials. Based on the outcome of the financial analysis, the crisis management stage is identified and the recommendations on improvement of financial position are developed.


Financial recovery, crisis management, financial position, financial analysis, readjustment, supervision, external management.

Issue number: 12
Year: 2018
UDK: 658.14.012
DOI: 10.25018/0236-1493-2018-12-0-199-207
Authors: Velesevich V. I.

About authors: Velesevich V.I., Candidate of Technical Science, Professor, e-mail:, Institute of Economics and Management of Industrial Enterprises, National University of Science and Technology «MISiS», 119049, Moscow, Russia.


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