Article 26-2. Making changes and/or additions to the rehabilitation plan The Law on Rehabilitation and Bankruptcy

Home / RLA / Article 26-2. Making changes and/or additions to the rehabilitation plan The Law on Rehabilitation and Bankruptcy

1. When approving amendments and (or) additions to the rehabilitation plan, the creditors' meeting is authorized if creditors whose interests are affected by the amendments and (or) additions to the rehabilitation plan participate in it, including creditors whose claims are subject to satisfaction as part of the same queue with such creditors and (or) as part of subsequent queues with the number of votes representing more than fifty percent of the number of votes of creditors, whose claims are subject to satisfaction in each queue separately.

2. The decision of the creditors' meeting to approve amendments and (or) additions to the rehabilitation plan is made by creditors whose interests are affected by the amendments and (or) additions made to it, including creditors whose claims must be satisfied as part of the same queue with such creditors and (or) as part of subsequent queues, if a majority of votes voted for it. for each queue separately.

3. In case of non-fulfillment of the conditions stipulated in this article, the introduction of amendments and (or) additions to the rehabilitation plan is considered uncoordinated.

4. If the creditors' votes are equal in a separate vote to agree on amendments and (or) additions to the rehabilitation plan, the decisions of the creditors' meeting are taken by a majority vote of the total number of creditors, including absentee voters participating in the creditors' meeting on the principle of "one tenge" – one vote.

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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