After the court issues a decision declaring the debtor bankrupt, the performance of further activities is entrusted to the bankruptcy trustee appointed by the court. The basic elements of the second stage of the bankruptcy procedure include:

• reporting receivables;
• preparation of a list of receivables by the trustee;
• determining the composition of the bankruptcy estate;
• liquidation of the bankruptcy estate;distribution of estate funds among creditors;
• conclusion of bankruptcy proceedings.

When the decision terminating bankruptcy proceedings becomes final, the case finally ends. The court may terminate the proceedings after confirming the implementation of the plan for the distribution of estate funds and discontinue the proceedings.