Article 24. Conclusion of the Financial Manager of the Law On Restoration of Solvency and Bankruptcy of Citizens of the Republic of Kazakhstan
1. Based on the results of collecting information about the debtor's financial condition, the financial manager draws up an opinion in accordance with the established form, containing one of the following conclusions:
1) the debtor is insolvent and there are grounds for applying the procedure for restoring solvency;
2) the debtor is insolvent and there are grounds for applying the judicial bankruptcy procedure;
3) the debtor is solvent and there are no grounds for applying the procedure of restoration of solvency or judicial bankruptcy.
The conclusion is submitted to the court within twenty working days from the date of the court ruling on the initiation of proceedings on the application of the procedure for restoring solvency or judicial bankruptcy proceedings.
2. An opinion containing conclusions that the debtor is solvent and there are no grounds for applying the procedure for restoring solvency or judicial bankruptcy shall be drawn up by the financial manager in the absence of one or more circumstances provided for in Article 6 of 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
© 2012. RSE na PHB "Institute of Legislation and Legal Information of the Republic of Kazakhstan" of the Ministry of Justice of the 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
