The extension of the term of the bankruptcy procedure in the presence of unrealized property, appeals to the criminal prosecution authorities are provided for by the current legislation.
P., Sh. appealed to the court with a statement on the recognition of the limited liability partnership "Publishing and Printing Complex "Dastan" (hereinafter - LLP "IPK "D") as an insolvent debtor and the initiation of bankruptcy proceedings. IPK "D" LLP was declared bankrupt by the court decision No. 2 of the city of Uralsk in West Kazakhstan (hereinafter - the city of Uralsk) dated May 28, 2013. By order of the authorized body, the state institution "Department of the Committee for Work with Insolvent Debtors of the Ministry of Finance of the Republic of Kazakhstan for the West Kazakhstan region" dated August 29, 2013, I. was appointed bankruptcy trustee by the Ruling of the court No. 2 of the city of Uralsk dated July 28, 2014, at the request of the bankruptcy trustee, the bankruptcy proceedings were extended by three months. By a ruling of the same court dated August 28, 2014, at the request of the bankruptcy trustee of IPK D LLP, the term of bankruptcy proceedings was additionally extended for another three months. On November 17, 2014, the bankruptcy trustee of IPK "D" LLP again applied to the court for an extension of the terms of bankruptcy proceedings, indicating that in order to complete the claim work with the debtors of IPK "D" LLP, an extension of the terms of bankruptcy proceedings is necessary. The decision of the Uralsk City Court No. 2 dated November 28, 2014 denied the application. The ruling of the Court of Appeal and the decision of the cassation judicial boards of the West Kazakhstan Regional Court left the ruling of the court of first instance unchanged. The Supervisory Judicial Board for Civil and Administrative Cases of the Supreme Court annulled the judicial acts of local courts due to the incorrect application of substantive law, adopted a new decision in the case to extend the term of bankruptcy proceedings for a period of 3 (three) months by virtue of the following.
The extension of the term of the bankruptcy procedure in the presence of unrealized property, appeals to the criminal prosecution authorities are provided for by the current legislation.
According to paragraph 2 of Article 84 of the Law of the Republic of Kazakhstan "On Rehabilitation and Bankruptcy", the grounds for extending the bankruptcy procedure are: the presence in court proceedings of a case affecting the property interests of the debtor and his creditors; the presence of unrealized property; the bankruptcy administrator's appeal to the criminal prosecution authorities on grounds of intentional or false bankruptcy, other offenses or crimes against the interests of the debtor and his creditors; the need to eliminate violations of the legislation of the Republic of Kazakhstan specified in the court ruling on the refusal to approve the final report; the need to eliminate violations of the legislation of the Republic of Kazakhstan identified by the authorized body. The extension of the term of the bankruptcy procedure in the presence of unrealized property, appeals to the criminal prosecution authorities are provided for by the current legislation. In connection with the existing facts indicating the possible bankruptcy of the partnership, the applicant filed a complaint against the decision of the investigator of the Department for Combating Economic and Corruption Crimes in the West Kazakhstan region on the refusal to initiate criminal proceedings on the fact of deliberate and false bankruptcy. By a resolution of the Uralsk City Prosecutor's Office dated December 9, 2014, the decision to refuse to institute criminal proceedings against the director of IPK "D" N LLP was canceled, and a criminal case was initiated. In addition, the debtor's bankruptcy estate contains unrealized property, in respect of which it is necessary to evaluate and subsequently realize. Thus, the petition for the extension of the bankruptcy procedure indicated the essential circumstances provided for by the current legislation, on the basis of which the bankruptcy procedure should be extended. The end of the established term of bankruptcy proceedings will terminate all the rights and powers of the applicant as a bankruptcy trustee and, as a result, all actions to sell the debtor's property and prevent unfair actions of the debtor will be fruitless if there is a real possibility of partial repayment of the debt at the expense of the existing property. Refusals by courts to extend the terms of bankruptcy proceedings in the presence of these circumstances prevent the bankruptcy procedure, the main purpose of which, according to the legislation, is to satisfy creditors' claims at the expense of the bankrupt's estate in accordance with the procedure established by the laws of the Republic of Kazakhstan.
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