Article 27. Formation of the register of creditors' claims The Law on the Restoration of Solvency and Bankruptcy of Citizens of the Republic of Kazakhstan

Home / RLA / Article 27. Formation of the register of creditors' claims The Law on the Restoration of Solvency and Bankruptcy of Citizens of the Republic of Kazakhstan

1. The financial Manager shall send to the authorized body, for posting on the Internet resource of the authorized body, an announcement in Kazakh and Russian 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 announcement is sent within two working days from the date of appointment of the authorized body of the financial manager.

The authorized body shall post the announcement on its Internet resource within two working days from the date of receipt.

2. Creditors' claims against the debtor must be filed by them within twenty working days from the date of posting an announcement on the initiation of proceedings on the application of the procedure for restoring solvency or judicial bankruptcy and the procedure for creditors' claims on the Internet resource of the authorized body. The acceptance of creditors' claims is carried out by the financial manager in the manner indicated in the announcement, in accordance with Article 13 of this Law.

Creditors' claims must contain information about the cellular subscriber number and the creditor's e-mail address (if any); information about the amount of the claim (separately, the amount of the principal debt, remuneration (interest), penalties and other penalties, losses), accompanied by copies of documents confirming the basis and amount of the claim (decisions that have entered into force courts, copies of contracts, recognition of debt by the debtor, and others), while simultaneously submitting the original documents for reconciliation. The amount of the claim is determined on the date of the application of the specified claim.

If the amount of the claim for remuneration (interest), penalty and other penalties, losses specified in part two of this paragraph is changed as of the date of the court's decision to apply the procedure for restoring solvency or judicial bankruptcy, the creditor shall, within five working days from the date of the court's decision, re-declare his claims, taking into account the specified change.

Creditors' claims denominated in foreign currency are recorded in tenge at the official exchange rate set by the National Bank of the Republic of Kazakhstan as of the date of the court's decision on the application of the solvency restoration procedure or judicial bankruptcy.

3. The financial manager, within five working days from the date of receipt of the claim filed by the creditor, shall make a decision on recognizing the claim as justified (unfounded) and including the recognized claim in the register of creditors' claims.

IZPI's note! The first part of paragraph 4 is amended by the Law of the Republic of Kazakhstan dated 30.06.2025 No. 205-VIII (effective sixty calendar days after the date of its first official publication).

4. The financial manager, within ten working days from the date of expiry of the period specified in paragraph 2 of this Article, shall send to the authorized body in Kazakh and Russian a register of creditors' claims for posting on the authorized body's Internet resource, formed in accordance with the form approved by the authorized body.

The authorized body shall post the register of creditors' claims on its Internet resource no later than two working days from the date of receipt from the financial manager.

If there are grounds, the creditor and (or) the debtor, within ten working days from the date of posting the register of creditors' claims on the authorized body's Internet resource, has the right to appeal to the authorized body or court against the inclusion (non-inclusion) by the financial manager of claims in full or in part in the register of creditors' claims.

An appeal is not a ground for suspending the bankruptcy proceedings.

5. A creditor's claim filed later than the deadline specified in paragraph 2 of this article is subject to satisfaction after the creditors' claims filed on time are fully satisfied, with the exception of claims for compensation for damage caused to life and health, and for the payment of alimony.

Creditors' claims for compensation for damage caused to life and health, for the payment of alimony, filed later than the deadline set by this Law, are included in the register of creditors' claims as claims to be satisfied first.

5-1. In case of failure by the creditor (creditors) to file claims, the register of creditors' claims is formed from the data provided by the debtor, including taking into account the information reflected in the database of credit bureaus.

6. Amendments and (or) additions to the formed register of creditors' claims may be made in the cases provided for in paragraphs 4 and 5 of this Article.

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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