Today, in the Republic of Kazakhstan, many LLPs and sole proprietors are looking for ways out of the current, we can say critical, situation due to the pandemic. The use of a rehabilitation procedure is one of the ways out of the situation.
In accordance with the Law of the Republic of Kazakhstan "On Rehabilitation and Bankruptcy" (hereinafter-the Law), in addition to the bankruptcy procedure in respect of insolvent (insolvent) enterprises, a rehabilitation procedure is also provided.
Rehabilitation procedure – a procedure applied in court, within the framework of which reorganization, organizational and economic, managerial, investment, technical, financial and economic, legal and other measures aimed at restoring solvency that do not contradict the legislation of the Republic of Kazakhstan are applied to the debtor.
When applying rehabilitation, the company's debts, both to the budget and to other creditors, will be repaid according to the approved schedule.
During the rehabilitation procedure, the rights to manage the enterprise are assigned to the rehabilitation manager.
At the same time, the Law also provides that the right to manage the property and affairs of the debtor may be reserved for the owner of the property.
To date, the rehabilitation procedure has been applied to 31 debtors in the region.
In the period from January 1, 2020 to the present, 8 debtors who have fully repaid their accounts payable have completed the rehabilitation procedure in connection with the achievement of the rehabilitation goal.
For more information, you can contact the State Revenue Department for Uzunkolsky district by phone: 2-15-89