At present, when all countries of the world, including Kazakhstan, are busy finding ways out of the crisis-to stabilize the financial system, increase the level of employment, when not only the country's economy, but the entire world economy is undergoing a financial crisis, the issue of its recovery through the rehabilitation procedure becomes even more urgent.

In accordance with the current legislation "On Rehabilitation and Bankruptcy" of the Republic of Kazakhstan, in addition to the procedure for bankruptcy (liquidation) of enterprises, a rehabilitation procedure is provided for in respect of insolvent (insolvent) enterprises.

The Law prescribes this procedure in sufficient detail, which is aimed at restoring the solvency and preserving the debtor's property. As one of the judicial procedures, the rehabilitation procedure occupies a special place among them. This follows, first of all, from the specifics of the procedure itself, its goals and the consequences of its introduction. Figuratively describing the rehabilitation procedure, we can say that this is the last chance for the company to overcome the crisis. Otherwise, if it is impossible to restore solvency, the court declares the debtor bankrupt and follows the bankruptcy procedure.

According to the Law, the rehabilitation procedure is a procedure applied in court, in which the debtor is subject to 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.

With minor debts, in the early stages, when financial insolvency has not yet become irreversible, the rehabilitation procedure is sufficiently effective. It gives the company additional opportunities to revive the business, reform it and restructure production.

In accordance with the amendments to the law, the debtor and the creditor (with the exception of the creditor for taxes and customs payments) have the right to apply to the court for the application of a rehabilitation procedure in case of temporary insolvency and if there is a debt.

The rehabilitation procedure is not a mandatory procedure, so a decision of the creditors ' meeting on its introduction is necessary. This decision should be based on the real possibility of restoring the debtor's solvency, and not just on the desire to extend the term of its functioning.

The peculiarity of the application of the rehabilitation procedure is that from the moment of its introduction, the accrual of penalties (penalties, fines) for all types of debt, including bank loans and taxes, stops. That is, all existing debts of the enterprise will be repaid within the framework and terms of the rehabilitation procedure according to a schedule convenient for both the enterprise and the creditors themselves, in accordance with the approved plan.

The main document that ensures the organizational and economic unity of all measures of the studied stage of bankruptcy is the plan for the rehabilitation of the enterprise. The peculiarity of this document is that, being essentially a business plan for the project of restoring the solvency of the enterprise, it must comply with the requirements of the law and be approved by the creditors ' meeting.

As you know, in order to achieve the goals of the rehabilitation procedure for the period of their implementation, the right to manage the company is transferred to the rehabilitation manager. However, the Law of RK "On rehabilitation and bankruptcy" also provides for the preservation of the right to control the property and Affairs of a debtor for the owner, i.e. the Manager or founders (participants) of the insolvent debtor, which is subject to the powers and responsibilities of the rehabilitation Manager as specified by the law on rehabilitation and bankruptcy.

Thus, dear entrepreneurs, if today your company has a difficult situation on the payment of accounts payable, you will make the right decision for yourself, realizing your rights through the rehabilitation procedure.