Article 181-1. Violation of the legislation of the Republic of Kazakhstan on restoration of solvency and bankruptcy of citizens by financial managers of the Code of the Republic of Kazakhstan on Administrative Offenses

Home / Codes / Article 181-1. Violation of the legislation of the Republic of Kazakhstan on restoration of solvency and bankruptcy of citizens by financial managers of the Code of the Republic of Kazakhstan on Administrative Offenses

Article 181-1. Violation of the legislation of the Republic of Kazakhstan on restoration of solvency and bankruptcy of citizens by financial managers of the Code of the Republic of Kazakhstan on Administrative Offenses

1. Non-fulfillment or improper fulfillment by the financial manager of the duties of sending to the authorized body in the field of public administration for the restoration of solvency and bankruptcy of citizens of the Republic of Kazakhstan an announcement on the initiation of proceedings on the application of the procedure for restoring solvency or judicial bankruptcy and the procedure for filing claims by creditors, the register of creditors' claims, formed in accordance with the established procedure, for posting on its Internet resource, as well as late decision-making based on the results of consideration of the creditors' claims –

they entail a fine in the amount of five monthly calculation indices.

2. Failure by the financial manager to perform the duties of conducting an inventory, evaluating property, accepting title documents from the debtor for his property, his property for his management, as well as failure to take measures to return the property to the debtor's estate when identifying transactions made by the debtor in violation of the requirements provided for by the civil legislation of the Republic of Kazakhstan, before initiating proceedings on the application of procedures for restoring solvency or judicial bankruptcy –

they entail a fine in the amount of fifteen monthly calculation indices.

3. Failure to submit or late submission to the court of the financial manager's opinion, the conclusion on the existence or absence of grounds for termination of the bankrupt's obligations, the final report, as well as the final plan for restoring the debtor's solvency to the court and creditors whose claims are included in the register of creditors' claims., –

entails a fine in the amount of ten monthly calculation indices.

4. Failure to fulfill the obligation to provide information on the progress of the development of a plan to restore solvency to the creditor on the basis of his written request –

entails a warning.

5. Alienation by the financial manager of the debtor's estate, settlements with creditors in violation of the established procedure provided for by the Law of the Republic of Kazakhstan "On Restoration of solvency and Bankruptcy of citizens of the Republic of Kazakhstan", as well as the procedure for conducting an electronic auction for the sale of the debtor's property, determined by the authorized body in the field of public administration for the restoration of solvency and bankruptcy of citizens of the Republic of Kazakhstan, –

they entail a fine in the amount of thirty monthly calculation indices.

6. Unlawful satisfaction of property claims of individual creditors by a financial manager knowingly to the detriment of other creditors, if this action was committed during judicial bankruptcy and does not contain signs of a criminally punishable act., –

entails a fine in the amount of fifty monthly calculation indices.

7. Actions (inaction) provided for in parts one and four of this Article, committed repeatedly within a year after the imposition of an administrative penalty, –

they entail a fine in the amount of fifteen monthly calculation indices.

8. Actions (inaction) provided for in the second part of this Article, committed repeatedly within a year after the imposition of an administrative penalty, –

they entail a fine in the amount of fifty monthly calculation indices.

9. The action (inaction) provided for in part three of this article, committed repeatedly within a year after the imposition of an administrative penalty, –

entails a fine in the amount of sixty monthly calculation indices.

10. The actions provided for in parts five and six of this Article, committed repeatedly within a year after the imposition of an administrative penalty, –

they entail a fine in the amount of one hundred monthly calculation indices.

President

Republic of Kazakhstan

Constitution Law Code Standard Decree Order Decision Resolution Lawyer Almaty Lawyer Legal service Legal advice Civil Criminal Administrative cases Disputes Defense Arbitration Law Company Kazakhstan Law Firm Court Cases

Article 18-1. Managing the affairs of a production cooperative in bankruptcy and rehabilitation proceedings

Article 18-1. Managing the affairs of a production cooperative in bankruptcy and rehabilitation proceedings In cases of declaring a production cooperative bankrupt or applyin...