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RESOLUTION OF COUNCIL OF MINISTERS OF THE REPUBLIC OF BELARUS

of February 28, 2007 No. 260

About approval of the Regulations on procedure for appointment and payment of remuneration to the interim (anti-recessionary) manager in proceeedings about economic insolvency (bankruptcy)

(The last edition from 30-06-2014)

For the purpose of strengthening of dependence of amount of remuneration of the interim (anti-recessionary) manager in proceeedings about economic insolvency (bankruptcy) from results of its activities the Council of Ministers of the Republic of Belarus DECIDES:

1. Approve the enclosed Regulations on procedure for appointment and payment of remuneration to the interim (anti-recessionary) manager in proceeedings about economic insolvency (bankruptcy).

2. Declare invalid the resolution of Council of Ministers of the Republic of Belarus of February 20, 2003 No. 213 "About approval of the Regulations on remuneration payment procedure to the managing director in proceeedings about economic insolvency (bankruptcy) and the minimum amounts of remuneration of the managing director in proceeedings about economic insolvency (bankruptcy) in the procedure of sanitation" (The national register of legal acts of the Republic of Belarus, 2003, No. 26, 5/12029).

3. This resolution becomes effective from the first following after month of its official publication.

Prime Minister of the Republic of Belarus

S. Sidorsky

Approved by the Resolution of Council of Ministers of the Republic of Belarus of February 28, 2007 No. 260

Regulations on procedure for appointment and payment of remuneration to the interim (anti-recessionary) manager in proceeedings about economic insolvency (bankruptcy)

Chapter 1. General provisions

2. Remuneration to the managing director consists from:

minimum remuneration;

extra quarterly fee;

extra fee following the results of case.

Chapter 2. Remuneration payment procedure to the managing director managing in case of sufficiency of property of the debtor for remuneration payment

3. The minimum remuneration is paid to the managing director for every month of accomplishment of obligations in the amount of one basic size for each calendar day of the corresponding month.

Payment of the minimum remuneration is performed by money transfer from the settlement account of the debtor on the settlement account of the managing director.

Control of correctness of determination and payment of the minimum remuneration is performed by territorial authority concerning sanitation and bankruptcy of the Ministry of Economics or Department on sanitation and bankruptcy of the Ministry of Economics.

4. The court considering economic cases following the results of every quarter based on the petition of meeting (committee) of creditors has the right to consider question of appointment and payment to the managing director of extra quarterly fee.

The protocol of meeting (committee meeting) of creditors on the statement of the petition for payment to the managing director of extra quarterly fee is attached to the petition of meeting (committee) of creditors.

About the statement of the petition for payment to the managing director of extra quarterly fee the representative of territorial authority concerning sanitation and bankruptcy of the Ministry of Economics, and on the cases which are in production of the Supreme Court – the representative of Department on sanitation and bankruptcy of the Ministry of Economics without fail participates in meeting (committee meeting) of creditors.

Extra quarterly fee can be appointed and paid on the following bases in sizes (percentage of the amount of the minimum remuneration estimated in quarter):

with average number more than 50 people working for the debtor for the end of quarter – to 80;

in case of book value of property (assets) of the debtor for the end of quarter more than 10 000 basic sizes – to 60;

in case of return by the managing director of property of the debtor, including collection of receivables, – to 100;

in case of return by the managing director of property to his owners – to 50;

on other bases complicating accomplishment by the managing director of obligations – to 50.

Extra quarterly fee in liquidating production can be appointed and paid no more than in 12 months of accomplishment by the managing director of obligations from the date of adoption by court of the decision on opening of liquidating production.

The amount of extra quarterly fee is calculated by formula

Формула к Пост Сов. Мин от 28.02.2007 года №260 (Беларусь)

where  Maidens – extra quarterly fee;

Mvkv – the total amount of the minimum remuneration estimated in quarter;

Spr – the amount of percent of the extra quarterly fee established on the bases listed in part four of this Item.

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