On December 27, 2019, the Head of State of the Republic of Kazakhstan signed the Law on Rehabilitation and Bankruptcy and related amendments to some legislative acts of the Republic of Kazakhstan on issues of rehabilitation and bankruptcy, taxation, which entered into force on January 10, 2020.
In accordance with the current legislation "On Rehabilitation and Bankruptcy" of the Republic of Kazakhstan, in addition to the procedure for bankruptcy of enterprises in relation to insolvent enterprises, a rehabilitation procedure is provided.This procedure is spelled out in sufficient detail in the Law, which is aimed at restoring solvency and preserving the debtor's property.According to the Law, a rehabilitation procedure is a procedure applied in court, within which reorganization, organizational and economic, managerial, investment, technical, financial and economic, legal and other measures not contradicting the legislation of the Republic of Kazakhstan aimed at restoring solvency are applied to the debtor.