Consequences of applying the bankruptcy of individuals

Upon completion of the bankruptcy procedure, the bankrupt is prohibited from:

1) within five years, make transactions for obtaining loans, issuing guarantees and guarantees, with the exception of transactions for obtaining loans, the amount of which does not exceed the subsistence level established by January 1 of the corresponding financial year by the law on the republican budget;

2) within three years, travel outside the Republic of Kazakhstan, except for cases of the need for treatment, accompanying a close relative for treatment and burial of a close relative outside the Republic of Kazakhstan.

It should also be understood that if a citizen, three years before the application of one of the procedures, allowed the facts of the withdrawal of property (for example, by selling property at a reduced price, the property was transferred free of charge, etc.), then such transactions are subject to invalidation in a judicial order and the alienated property will be subject to return to the property mass of the bankrupt.

Subsequently, the authorized body on the Internet resource posts a list of citizens in respect of whom the procedures for restoring solvency, out-of-court and judicial bankruptcy have been applied, terminated and completed:

1) a list of citizens in respect of which the out-of-court bankruptcy procedure has been applied, terminated and completed;

2) a list of citizens in respect of which the relevant court decisions have entered into force.

A citizen is excluded from the list in cases of cancellation of a court decision on the application of the procedure for restoring solvency or judicial bankruptcy. The list of citizens provided for by this article is updated quarterly no later than the 20th day of the month following the expired quarter.