Article 38. Debtor's estate of the Law on Restoration of Solvency and Bankruptcy of Citizens of the Republic of Kazakhstan

Home / RLA / Article 38. Debtor's estate of the Law on Restoration of Solvency and Bankruptcy of Citizens of the Republic of Kazakhstan

1. The estate includes all movable and immovable property of the debtor in the Republic of Kazakhstan and abroad, including:

property for which the right and/or transaction are subject to state or other registration with a competent authority, including in a foreign state in accordance with the legislation of a foreign state;

money in bank accounts, including in foreign banks located outside the Republic of Kazakhstan;

cash money;

share in a residential building under a contract for equity participation in housing construction;

the share of participation in the authorized capital of a legal entity, including one established outside the Republic of Kazakhstan;

securities, derivative financial instruments (with the exception of derivative financial instruments, the execution of which occurs through the acquisition or sale of the underlying asset);

investment gold;

objects of intellectual property and copyright;

debt owed by other persons to the debtor (accounts receivable) in the presence of a contract or other document that is the basis for an obligation or claim, notarized (certified);

animals in the presence of a veterinary passport or other document confirming ownership;

precious stones and precious metals, jewelry made from them, and other items containing precious stones and precious metals, as well as works of art and antiques, fur products, and other valuable clothing;

digital assets.

2. The separation of the debtor's share from the jointly owned property is carried out in accordance with the civil legislation of the Republic of Kazakhstan.

3. The estate does not include property that cannot be levied in accordance with the legislation of the Republic of Kazakhstan on enforcement proceedings and the status of bailiffs, as well as the debtor's only dwelling, which is not a security for the fulfillment of obligations.

4. Excluded by the Law of the Republic of Kazakhstan dated 06/19/2024 No. 97-VIII (effective sixty calendar days after the date of its first official publication). The footnote. Article 38 as amended by the Law of the Republic of Kazakhstan dated 06/19/2024 No. 97-VIII (effective sixty calendar days after the date of its first official publication).

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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