Article 28. Adoption of decisions by the creditors' committee The Law on Rehabilitation and Bankruptcy
1. A meeting of the creditors' committee is valid with the participation of at least two thirds of the total number of committee members, including creditors participating in the meeting in person, as well as online via videoconference.
2. The decision of the creditors' committee is made by a simple majority of votes of the total number of members of the creditors' committee on the principle of "one member of the committee – one vote".
In case of equality of votes in the voting procedure, the chairman of the creditors' committee is given the casting vote.
3. The meeting of the creditors' committee shall be formalized by the minutes.
The minutes should contain information on the date and place of the meeting, the members of the creditors' committee who participated in the voting, the agenda, the results of the voting and the decisions taken. The minutes are signed by all members of the creditors' committee who participated in the voting, the administrator and certified with the seal of the debtor (if any).
The administrator, within three working days from the date of signing the protocol, sends it to the authorized body, members of the creditors' committee. The administrator has one copy of the protocol.
4. Creditors, the debtor individual entrepreneur, the owner of the property (the person authorized by him), the founders (participants) of the debtor legal entity have the right to participate in the meeting of the creditors' committee.
5. When exercising the powers of the creditors' committee by the creditors' meeting in the case provided for in the second part of paragraph 1 of Article 27 of this Law, decisions by the creditors' meeting shall be taken in accordance with the procedure provided for in this article.
6. The decision of the creditors' committee may be appealed by the participants in the proceedings within one month from the date of its adoption.
The Law of the Republic of Kazakhstan dated March 7, 2014 No. 176-V SAM.
The article was amended and supplemented by the Law of the Republic of Kazakhstan dated July 23, 2026, No. 352-VIII 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.
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