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Article 86. The powers of the court in bankruptcy proceedings The Law on Rehabilitation and Bankruptcy
The court has the following powers in the bankruptcy procedure:
1) initiates and terminates bankruptcy proceedings;
2) informs the body responsible for state registration of legal entities, the authorized body, the Chamber of private bailiffs and the territorial body of justice at the location of the debtor about the decision on declaring the debtor bankrupt.;
3) accepts for its proceedings cases on property disputes in which the bankrupt acts as a defendant;
4) 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);
5) resolves disputes between participants in the bankruptcy procedure;
6) at the request of the creditor, considers the validity of the amount of administrative expenses or a loan received for the purposes of bankruptcy proceedings.
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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