Article 38. Priority of satisfaction of creditors' claims of the Grain Law Grain receiving enterprise being rehabilitated, as well as the one being liquidated.

Home / Laws / Article 38. Priority of satisfaction of creditors' claims of the Grain Law Grain receiving enterprise being rehabilitated, as well as the one being liquidated.

1. The claims of creditors of a grain receiving enterprise that is being rehabilitated, as well as forcibly liquidated, including in connection with its bankruptcy, shall be satisfied in accordance with the procedure established by this article.

2. Expenses related to liquidation proceedings, including those related to ensuring the activities of the liquidation commission of the grain receiving enterprise, as well as expenses arising from the need to ensure the basic functions of the grain receiving enterprise being liquidated, are carried out out of turn and permanently.

3. Creditors' claims, recognized in accordance with the established procedure, must be satisfied in the following order:

1) first of all, the demands of citizens to whom the liquidated grain receiving enterprise is responsible for causing harm to life or health are satisfied.;

2) in the second place, wage settlements are made with persons working under an employment contract;

3) in the third place, the requirements of the holders of grain receipts containing information about the pledge are satisfied.;

4) in the fourth row, the requirements of holders of grain receipts that do not contain information about the pledge are satisfied.;

5) fifth, creditors' claims for obligations secured by a pledge of the property of the grain receiving enterprise being liquidated are satisfied.;

6) in the sixth turn, the debt on mandatory payments to the budget is repaid.;

7) in the seventh turn, settlements are made with other creditors in accordance with legislative acts.

The Law of the Republic of Kazakhstan dated January 19, 2001 No. 143.

This Law regulates relations arising in the process of grain production, storage and sale in the Republic of Kazakhstan.

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