Article 12. Confidentiality of the Law on Restoration of Solvency and Bankruptcy of Citizens of the Republic of Kazakhstan

Home / RLA / Article 12. Confidentiality of the Law on Restoration of Solvency and Bankruptcy of Citizens of the Republic of Kazakhstan

1. The authorized body and the financial manager have the right to request and receive information on the debtor's financial situation, property and obligations for a period of up to three years preceding the application of the procedures provided for in this Law, without obtaining the debtor's consent.

2. Unless otherwise provided by this article, disclosure of information about the debtor protected by the laws of the Republic of Kazakhstan by a financial manager or an official of an authorized body to whom they are entrusted or known in their service or work, as well as the loss of documents containing such information, entail liability established by the laws of the Republic of Kazakhstan.

3. The transfer of information provided by the authorized body or financial managers to state bodies in cases stipulated by the laws of the Republic of Kazakhstan does not constitute disclosure of confidential information.

4. When carrying out the procedures provided for by this Law, the following information about (about):

1) financial manager;

2) creditors;

3) the amount of claims included in the register of creditors' claims and the amount of their satisfaction in the context of queues;

4) the timing of the procedures;

5) execution of the schedule for satisfying creditors' claims;

6) the existence of complaints about the actions (inaction) of the financial manager and the results of their consideration;

7) bringing the financial manager to administrative responsibility for the facts of revealed offenses;

8) on the basis of termination of the procedures provided for by this Law;

9) court proceedings initiated by authorized persons within the framework of the exercise of the rights established by this Law.

This Law regulates public relations arising in the event of the insolvency of a citizen of the Republic of Kazakhstan, establishes the grounds for the application of the procedure for restoring solvency, as well as the procedures for out-of-court and judicial bankruptcy, the procedure and conditions for their conduct.

President

Republic of Kazakhstan

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