Bankruptcy Law is corrected.

Supreme Soviet of Ukraine passed an Act «About making alteration in Law of Ukraine «On renewal of solvency of debtor or confession his bankrupt» (about realization of management an enterprise-bankrupt (by a bankrupt).

A legislative act broughtin changes in the articles 17 and 32 laws in force, establishing order proceeding in normal activity of enterprise-debtor after stopping of readjusment in connection with the conclusion of world treaty or redemption of requirements of creditors (ar. 17) and in case if it was enough after the sale of property of bankrupt of facilities to satisfy the requirements of creditors (ar. 32).

Particularly «in the case of the preterm stopping of procedure of readjusment in connection with the conclusion of treaty or redemption of requirements of creditors the manager of readjusment during five days from the day of acceptance of the proper decision an economic court advises an organ or public servant of organ about it, to jurisdiction of which concerns thesetting of leader (management organs) of debtor behaves, in the case of necessity provides holding meeting or meeting of the proper organ .
According to a document, if property of bankrupt was enough to satisfy all requirements of creditors he is considered free of debt and can continue the entrepreneurial activity. At that rate a liquidator during five days from the day of acceptance of the proper decision an economic court advises an organ or public servant of organ about it, to jurisdiction of which setting of leader (management organs) of debtor behaves, in the case of necessity provides holding meeting or meeting of the proper organ and continues to execute the plenary powers to setting in accordance with established procedure of leader (management organs) of debtor.

An economic court can award judgement about liquidation legal entity, ridding of debts, only in case if for him remained there are less than, than required for his functioning to in compliance with the legislation property assets.




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