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Article 94. Powers of the creditors' committee in bankruptcy proceedings The Law on Rehabilitation and Bankruptcy
Creditors' Committee:
1) carries out operational control over the conduct of bankruptcy proceedings and the activities of the bankruptcy trustee;
2) concludes and terminates the contract with the bankrupt manager;
3) approves the action plan for the bankruptcy procedure, which is an integral part of the contract;
4) decides on the assessment of the newly identified or returned to the estate of the bankrupt;
5) determines the list of goods, works and services purchased by the bankrupt manager;
6) decides on the mutual settlement of claims between the debtor and the creditor;
7) organizes a creditors' meeting on the issue of the dismissal of the bankrupt manager and the simultaneous election of a new bankrupt manager;
8) approves the property sale plan;
9) decides on the electronic auction of property at book value;
10) approves the amounts of the debtor's receivables that cannot be collected;
11) decides on the write-off of movable property listed on the balance sheet, but missing according to the inventory report;
12) determines the terms of the conclusion of the contract of property lease (lease) of the debtor's property;
13) exercise other powers provided for by this Law.
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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