Article 35. Termination of the procedure for restoring solvency or judicial bankruptcy The Law on the Restoration of Solvency and Bankruptcy of Citizens of the Republic of Kazakhstan
1. The creditor or the authorized body petitions the court to terminate the procedure for restoring solvency or judicial bankruptcy in the following cases::
1) the occurrence of the debtor's death, the entry into force of a court decision declaring him missing or declaring him deceased;
2) the debtor's failure to fulfill the obligations stipulated in Article 7 of this Law.
2. Based on the results of consideration of the creditor's petition or the authorized body, the court decides to terminate the procedure for restoring solvency or judicial bankruptcy.
3. Termination of the procedure for restoring solvency or judicial bankruptcy does not entail termination of the debtor's obligations to creditors.
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
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