Currently, the Law of the Republic of Kazakhstan "On Rehabilitation and Bankruptcy" is the main tool in improving the health of enterprises through the use of a rehabilitation procedure, which subsequently allows you to fully pay off creditors and improve your financial situation.
Rehabilitation procedure-introduced in court, in which the debtor applies reorganization, organizational and economic, management, investment, technical, financial and economic, legal and other measures that do not contradict the legislation of the Republic of Kazakhstan, aimed at restoring solvency.
A rehabilitation procedure is also applicable to an individual entrepreneur, in case of non-fulfillment of tax obligations or obligations to other creditors within four months from the date of their fulfillment, and to social creditors (compensation for damage caused to life and health, recovery of alimony, wages and other related payments) - within three months from the date of their fulfillment.
When the rehabilitation procedure is introduced, the accrual of penalties (penalties and fines) for all types of debt is suspended, the accrual of remuneration for loans received is stopped, arrests are removed from bank accounts, and the sale of property to repay the debt is suspended.
The debt is repaid according to the deferred schedule for 5 years, while a flexible repayment schedule is established, taking into account the seasonality of the work.
When filing claims in favor of rehabilitation proceedings, including the collection of receivables, the debtor is exempt from paying the state fee.
To apply to the court for the application of the rehabilitation procedure against the debtor, it is necessary to make a decision of the individual entrepreneur – debtor and conclude an agreement with the person entitled to carry out the activities of the administrator on the exercise of the powers of the temporary administrator.
For more information, you can contact the RSU "Department of State Revenue for the North Kazakhstan Region of the SRC of the Ministry of Finance of the Republic of Kazakhstan" (Department of Rehabilitation and Bankruptcy), North Kazakhstan Region, Petropavlovsk, K street.Sutyusheva,56, office 309, tel. 8-7152-46-73-32.
Debt management