Article 26-1. Coordination of the rehabilitation plan The Law on Rehabilitation and Bankruptcy

Home / RLA / Article 26-1. Coordination of the rehabilitation plan The Law on Rehabilitation and Bankruptcy

1. When approving a rehabilitation plan, a creditors' meeting is authorized if creditors whose interests are affected by this plan participate in it, having more than fifty percent of the votes of creditors whose claims are subject to satisfaction in the second and fourth stages separately.

2. The rehabilitation plan is considered agreed upon if it is voted for at the same time.:

1) majority of votes from the number of votes of creditors of the second stage;

2) the majority of votes from the number of votes of creditors of the fourth stage.

In case of non-fulfillment of one or both of the conditions provided for in subparagraphs 1) and 2) of part one of this paragraph, the rehabilitation plan is considered uncoordinated.

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

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