of July 8, 2024 No. 27-Z
About change of the laws concerning insolvency settlement
Accepted by the House of Representatives on May 30, 2024
Approved by Council of the Republic on June 20, 2024
Article 1. Bring in the Law of the Republic of Belarus of December 9, 1992 No. 2020-XII "About economic societies" the following changes:
1. The tenth Article 3 to state part in the following edition:
"Features of the relations with participation of the economic societies arising in course of production on insolvency matters or bankruptcy, taking measures to insolvency settlement, including to the prevention of insolvency or bankruptcy, and other relations with participation of specified persons connected with it are determined by legal acts for insolvency settlement.".
2. Third of Article 5 to state part in the following edition:
"Founders (participants) of the economic society declared bankrupt or the other persons, including persons who are performing powers of sole executive body of economic society or heading collegiate executive body of economic society, having the right to give instructions, obligatory for this society, or opportunity otherwise to determine its actions solidary bear subsidiary responsibility according to obligations of this society in case of insufficiency of property at it only in case bankruptcy of economic society was caused by guilty (intentional) actions of these persons if other is not established by legal acts.".
3. In Article 7:
in part two of the word "or partnerships" to replace with the word of "(partnership)";
in part three of the word "or partnership which have" and "answer" to replace respectively with words "(partnership) which has" and "answers";
the fourth to state part in the following edition:
"In case of bankruptcy of affiliated economic society as a result of guilty (intentional) actions of the main economic society (partnership) the last bears subsidiary liability for debts of affiliated economic society.";
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