Article 75. The powers of the creditors' meeting in the rehabilitation procedure The Law on Rehabilitation and Bankruptcy
1. The first creditors' meeting is held by the interim administrator during the court's consideration of the rehabilitation case after the publication of the register of creditors' claims on the authorized body's Internet resource.
1-1. The competence of the first creditors' meeting includes:
1) making a decision on assigning the debtor's management authority to the debtor's individual entrepreneur or the body or person authorized by the owner of the property, the founder (participant) of the debtor's legal entity;
2) selection of a candidate for the rehabilitation manager from among the persons included in the register of notifications of persons authorized to carry out the activities of the administrator;
3) determining the amount of payment of the basic remuneration to the rehabilitation manager in cases where the debtor's management authority is assigned to him;
4) determination of the amount of monetary remuneration of the individual entrepreneur – debtor or the body or person authorized by the owner of the property, the founder (participant) of the legal entity – debtor, in cases where the authority to manage the debtor is assigned to such body or person;
5) coordination of the application of the rehabilitation procedure in case the interim administrator draws up an opinion on financial stability provided for in subparagraph 3) paragraph 4 of Article 49 of this Law.
2. The competence of the creditors' meeting includes:
1) excluded by the Law of the Republic of Kazakhstan dated December 27, 2019 No. 290-VI (effective after ten calendar days after the date of its first official publication); 2) excluded by the Law of the Republic of Kazakhstan dated December 27, 2019 No. 290-VI (effective after ten calendar days after the date of its first official publication);
3) determination of the number and approval of the composition of the creditors' committee, the chairman of the creditors' committee;
4) making changes to the composition of the creditors' committee;
5) coordination of the rehabilitation plan;
6) approval of amendments and additions to the rehabilitation plan;
7) giving consent to the extension of the rehabilitation procedure;
8) determining the procedure and timing for members of the creditors' committee to bring information on the progress of the rehabilitation procedure to the attention of creditors;
9) classifying other transactions as carried out outside the framework of ordinary commercial transactions;
10) coordination of transactions outside the framework of ordinary commercial transactions not provided for in the rehabilitation plan;
10-1) giving consent to the conclusion of a financial leasing agreement;
11) approval of the amount of the debtor's receivables that cannot be collected;
12) selection of a candidate for the rehabilitation manager from among the persons included in the register of notifications of persons authorized to carry out the activities of the administrator;
13) excluded by the Law of the Republic of Kazakhstan dated December 27, 2019 No. 290-VI (effective ten calendar days after the date of its first official publication);
13-1) determining the amount of the rehabilitation manager's basic remuneration in cases where the debtor's management authority is assigned to him in accordance with the procedure provided for in paragraph 3 of Article 69 of this Law.;
14) determination of the amount of additional remuneration to the rehabilitation manager if he achieves the goal of the rehabilitation procedure;
15) determination of the amount of monetary remuneration of an individual entrepreneur – debtor or a body or person authorized by the owner of the property, the founder (participant) of a legal entity – debtor, in cases where the powers to manage the debtor are assigned to such body or person in accordance with the procedure provided for in paragraph 3 of Article 69 of this Law;
16) approval of the final report of the rehabilitation manager;
16-1) making a decision to recognize the reason for the creditor's non-appearance at the creditors' meeting as valid;
17) other powers provided for by this Law.
3. The creditor has the right to request information from the rehabilitation manager about the debtor's financial condition during the rehabilitation procedure.
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
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