RESOLUTION OF THE MINISTRY OF ECONOMICS OF THE REPUBLIC OF BELARUS

of May 10, 2023 No. 8

About determination of signs of concealment of bankruptcy, deliberate bankruptcy, preventing to carrying out settling with creditors

Based on subitem 5.3 of Item 5 of article 12 of the Law of the Republic of Belarus of December 13, 2022 No. 227-Z "About insolvency settlement", subitem 6.1 of Item 6 of the Regulations on the Ministry of Economics of the Republic of Belarus approved by the resolution of Council of Ministers of the Republic of Belarus of July 29, 2006 No. 967, the Ministry of Economics of the Republic of Belarus DECIDES:

1. Approve the Instruction about procedure for determination by the anti-recessionary managing director of availability (absence) for signs of concealment of bankruptcy, deliberate bankruptcy, preventing to carrying out settling with creditors, preparation of the reference on these questions it (is applied).

2. Recognize invalid:

the resolution of the Ministry of Economics of the Republic of Belarus of December 4, 2012 No. 107 "About determination of signs of economic insolvency (bankruptcy)";

the resolution of the Ministry of Economics of the Republic of Belarus of August 31, 2016 No. 57 "About introduction of amendments to some resolutions of the Ministry of Economics of the Republic of Belarus";

the resolution of the Ministry of Economics of the Republic of Belarus of May 19, 2022 No. 10 "About change of the resolution of the Ministry of Economics of the Republic of Belarus of December 4, 2012 No. 107".

3. This resolution becomes effective since October 1, 2023.

Approved by the Resolution of the Ministry of Economics of the Republic of Belarus of May 10, 2023 No. 8

The instruction about procedure for determination by the anti-recessionary managing director of availability (absence) for signs of concealment of bankruptcy, deliberate bankruptcy, preventing to carrying out settling with creditors, preparation of the reference on these questions

Chapter 1. General provisions

1. This Instruction establishes procedure for determination by the anti-recessionary managing director (further – the managing director) availability (absence) of signs of concealment of bankruptcy, deliberate bankruptcy, preventing to carrying out settling with creditors, preparation of the reference on these questions in the case of insolvency or bankruptcy.

2. Information sources for determination of availability (absence) of the signs specified in Item 1 of this Instruction are:

the statement of the debtor for the insolvency or for the bankruptcy or the statement of the creditor or other authorized persons for bankruptcy of the debtor (further – the bankruptcy petition or about bankruptcy of the debtor);

constituent documents of the debtor, the decision of founders (participants) of the debtor, its governing bodies, orders on the main activities;

the documents containing the information about structure of governing bodies of the debtor, and also about persons having the right to give instructions, obligatory for the debtor, or opportunity otherwise to determine its actions;

accounting records of the debtor, bookkeeping registers of the debtor, source accounting documents, regulations on accounting policy of the debtor;

the documents containing the information about structure of property of the debtor with analytical disaggregation of each type of property for date of giving in the court considering economic cases, bankruptcy petitions or on bankruptcy of the debtor, and also the list of property of the debtor acquired or alienated for the researched period;

the plan of sanitation, the liquidation plan of the debtor – the legal entity or the plan of the termination of activities of the debtor – the individual entrepreneur, the containing analysis of economic (economic) activity of the debtor;

agreements based on which alienation or property acquisition of the debtor, increase or reduction creditor and receivables, other documents according to the transactions which entailed changes of solvency of the debtor were made;

conclusions and valuation reports of property of the debtor;

the list of debtors with separate specifying of the amounts of the main debt, percent, penalty (penalty, penalty fee) for improper execution of obligations and completion dates of obligations on each debtor for date of filing of application about insolvency or about bankruptcy of the debtor;

the list of creditors with separate specifying of the amounts of the main debt, percent, penalty (penalty, penalty fee) for improper execution of obligations and completion dates of obligations on each creditor for date of filing of application about insolvency or about bankruptcy of the debtor;

information about affiliated and interested persons concerning the debtor;

documents of tax audits, checks of financial and economic activities of the debtor, audit opinions;

materials of legal procedures of the debtor;

statements according to the current (settlement) and other accounts of the debtor in banks;

other documents, regulatory legal acts regulating activities of the debtor.

3. In case of determination of availability or absence by the managing director of the signs specified in Item 1 of this Instruction, the researched period constitutes at least two years preceding date of initiation of proceedings about insolvency or bankruptcy or date of opening of bankruptcy proceedings (if concerning the debtor the protective period was entered).

In case of determination by the new managing director appointed in insolvency matter or bankruptcy of preventing signs to carrying out settling with the creditor (creditors) in actions of the managing director whose powers are stopped the researched period constitutes all completion date it obligations of the insolvency representative or bankruptcy of the debtor.

In case of absence for the researched period of the documents specified in Item 2 of this Instruction, the called documents are analyzed by the managing director for the available period.

4. When changing the managing director in procedures of insolvency or bankruptcy the new managing director can not determine availability (absence) of the signs specified in Item 1 of this Instruction, except as specified, established by part two of this Item.

Determination of availability (absence) of the signs specified in Item 1 of this Instruction is carried out by the new managing director without fail:

in case of detection of documents and (or) factual determination (facts) which can affect the conclusions drawn by the managing director whose powers are stopped in case of determination by it of availability or lack of the signs specified in Item 1 of this Instruction;

in the absence of the certificate of availability (absence) of signs of concealment of bankruptcy, deliberate bankruptcy, preventing to carrying out settling with the creditor (creditors) (further – the reference) in case papers about insolvency or bankruptcy;

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