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Article 78. Rehabilitation The Law on Rehabilitation and Bankruptcy
1. If the debtor's rehabilitation plan contains rehabilitation as a rehabilitation measure, the plan must be accompanied by a written commitment from the rehabilitation participant to transfer money to the debtor and/or creditors in accordance with the rehabilitation plan, indicating the amount and timing.
The rehabilitation plan of the debtor, an individual entrepreneur, cannot contain rehabilitation.
2. A participant in the rehabilitation may undertake to ensure that the claims of all creditors are satisfied within the time limits agreed with them. In this case, the debtor is managed by a participant in the rehabilitation or a person appointed by him within the limits of the powers provided for the rehabilitation manager. The requirements established by paragraph 2 of Article 12 of this Law do not apply to the participant of the rehabilitation.
3. The court, as well as the authorized body, has the right to demand from the participant of the rehabilitation documents confirming the possibility of fulfilling the obligations provided for in paragraphs 1 and 2 of this Article.
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.
Pr
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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