Article 122. Bankruptcy of agricultural producers The Law on Rehabilitation and Bankruptcy
1. A debtor who is an agricultural producer shall be declared bankrupt, taking into account the specifics established by this chapter.
2. When establishing the insolvency of agricultural producers, the obligations due no earlier than the previous year are taken into account. At the same time, the year preceding the initiation of bankruptcy proceedings is not taken into account, during which natural and man-made emergencies or particularly unfavorable climatic conditions that caused non-fulfillment of obligations on time.
The Law of the Republic of Kazakhstan dated March 7, 2014 No. 176-V SAM.
This Law regulates public relations arising from the debtor's inability to satisfy creditors' claims in full, establishes the grounds for applying debt restructuring procedures, rehabilitation procedures and declaring the debtor bankrupt, liquidating the debtor without initiating bankruptcy proceedings, and also defines the procedure and conditions for their conduct.
President
Republic of Kazakhstan
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