Article 18. Termination of the out-of-court bankruptcy procedure The Law on the Restoration of Solvency and Bankruptcy of Citizens of the Republic of Kazakhstan

Home / RLA / Article 18. Termination of the out-of-court bankruptcy procedure The Law on the Restoration of Solvency and Bankruptcy of Citizens of the Republic of Kazakhstan

1. The out-of-court bankruptcy procedure is terminated if, during the period of such procedure,:

IZPI's note! Subparagraph 1) is provided for in the wording of the Law of the Republic of Kazakhstan dated 30.06.2025 No. 205-VIII (effective sixty calendar days after the date of its first official publication).

1) the debtor has submitted an application to the authorized body through the Government for Citizens State Corporation, the e-Government web portal and (or) a special mobile application to terminate the out-of-court bankruptcy procedure;

IZPI's note! Paragraph 1 is provided to be supplemented with subparagraph 1-1) in accordance with the Law of the Republic of Kazakhstan dated 30.06.2025 No. 205-VIII (effective sixty calendar days after the date of its first official publication).

1-1) the debtor's property has been acquired or his financial and (or) property status has changed, allowing him to fully or more than thirty percent fulfill his obligations to creditors;

2) facts of concealment of property or property obligations, information about property, its size, location or other information about property, transfer of property to other ownership, alienation or destruction of property, as well as concealment, destruction, falsification of documents reflecting information about property have been revealed;

3) the debtor's death has occurred, and the court's decision to declare him missing or deceased has entered into legal force.;

IZPI's note! Subparagraph 4) is amended by the Law of the Republic of Kazakhstan dated 30.06.2025 No. 205-VIII (effective sixty calendar days after the date of its first official publication).

4) the facts of the debtor's non-compliance with the grounds specified in Article 5 of this Law, including at the request of the creditor, have been revealed as of the date of filing the application for the application of the out-of-court bankruptcy procedure.

The requirements of subitems 1), 2) and 4) of the first part of this paragraph do not apply to debtors who have applied the procedure of out-of-court bankruptcy on the basis of paragraph 3 of Article 5 of this Law.

2. The termination of the out-of-court bankruptcy procedure is carried out by the authorized body by posting an announcement on the termination of such procedure on the e-government web portal.

3. Termination of the out-of-court bankruptcy procedure does not entail termination of the debtor's obligations to creditors.

From the date of termination of the out-of-court bankruptcy procedure, the effects provided for in paragraph 2 of Article 17 of this Law shall cease.

IZPI's note! Article 18 is provided to be supplemented by paragraph 4 in accordance with the Law of the Republic of Kazakhstan dated 30.06.2025 No. 205-VIII (effective sixty calendar days after the date of its first official publication).

4. The debtor may file a repeated application for the application of the out-of-court bankruptcy procedure no earlier than six months after the date of termination of the procedure on the grounds provided for in subparagraphs 2) and 4) of the first paragraph of paragraph 1 of this article.

This Law regulates public relations arising in the event of the insolvency of a citizen of the Republic of Kazakhstan, establishes the grounds for the application of the procedure for restoring solvency, as well as the procedures for out-of-court and judicial bankruptcy, the procedure and conditions for their conduct.

President

Republic of Kazakhstan

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