ORDER OF THE GOVERNMENT OF THE KYRGYZ REPUBLIC

of August 22, 2002 No. 584

About approval of the Regulations on procedure for appointment of the administrator by state body on cases on bankruptcy

According to the Law of the Kyrgyz Republic "About bankruptcy (insolvency)", and also for the purpose of regulation of procedure for appointment, discharge and release of the administrators performing procedures of process of bankruptcy, the Government of the Kyrgyz Republic decides:

1. Approve the enclosed Regulations on procedure for appointment of the administrator by state body on cases on bankruptcy.

2. To provide to management for bankruptcy under the State committee of the Kyrgyz Republic on management of state-owned property realization of the approved procedure for appointment of the administrator by state body on cases on bankruptcy.

3. To impose control over the implementation of this resolution on management of economy, investments and regional development of the Office of the Prime Minister of the Kyrgyz Republic.

Approved by the Order of the Government of the Kyrgyz Republic of August 22, 2002 No. 584

Regulations on procedure for appointment of the administrator state body on cases on bankruptcy

1. General provisions

1. This Provision is developed according to the Law of the Kyrgyz Republic "About bankruptcy (insolvency)" (further in the text the Law) and is directed to realization of provisions of the Law regarding regulation of procedure for appointment, discharge and release by State body on cases on bankruptcy of administrators in case of carrying out process of bankruptcy judicially.

This Provision can be also applied to appointment, discharge and release of administrators by creditor meeting extrajudicially. In case of bankruptcy of banks and other financial credit institutions, except for the financial credit institutions which are not attracting deposits, the procedure for appointment and termination of powers of Temporary administrators and liquidators is established according to the Law of the Kyrgyz Republic "About National Bank of the Kyrgyz Republic, banks and banking activity" and regulatory legal acts of National Bank of the Kyrgyz Republic.

2. According to item 4 of Article 8, Item 2 of article 17 of the Law the body performing appointment, discharge and release of administrators (the special administrator, the external managing director) is the State body on cases on bankruptcy (further in the text state body).

2. Procedure for appointment of the administrator

3. Appointment of the administrator is performed by state body within five days from the moment of obtaining, in the procedure established by the Law, the judgments about recognition of the debtor by the bankrupt (insolvent), but no later than date of the introduction of the judgment in legal force, and also receipt of the statement (petition) specified in Item 7 of this provision. At the same time the state body shall inform creditors on bankruptcy.

4. The candidacy of the administrator can be presented to any of creditors (creditors), the debtor. At the same time the candidacy of the administrator shall be presented by persons specified in this Item from the moment of pronouncement by court of the decision on recognition of the debtor by the bankrupt (insolvent).

5. Persons (applicants) specified in item 4 of this provision shall submit the application (petition) for appointment as the administrator of the proposed candidacy in state body.

6. The application (petition) is submitted in writing. The statement of the creditor - the legal entity is signed by his head or the representative, and the statement of the creditor citizen - this citizen or his representative.

7. Shall be specified in the statement:

1) name (surname, name) applicant and his postal address;

2) the judgment about recognition of the debtor by the bankrupt (insolvent) with appendix of properly verified copy;

3) the requirement about appointment of the administrator, information on the proposed candidacy of position of the administrator (including surname, name, the candidate's middle name, number and date of its license for activities of the administrator in the course of bankruptcy and other information which can be the proof of professional suitability of the proposed candidacy).

8. Any person meeting the requirements of the Law has the right independently, according to the procedure, established by this Provision to propose to state body the candidacy for appointment.

9. The proposed candidacy of the administrator shall meet the requirements established in article 8 of the Law, Chapter 9 of Rules about procedure for application of the procedures of process of bankruptcy approved by the order of the Government of the Kyrgyz Republic of December 30, 1998 No. 865 "About approval of Rules about procedure for application of procedures of process of bankruptcy".

Paragraph two of ceased to be valid.

10. In case any candidacy of the administrator is not presented, the state body appoints the administrator from among persons having the license for the right of implementation of such type of activity.

11. In the presence of several candidates appointment of the administrator is made on competitive basis. When carrying out tender of candidates for appointment as the administrator length of service as the administrator, education, results of work as the administrator on prior objects, etc. are taken into account.

11-1. Competitive selection is made by tender committee which is formed by state body. Task of tender committee is ensuring selection process of candidates for position of the administrator on competitive basis.

The tender committee consists of five people. The chairman of tender committee is the deputy manager of state body.

The announcement of carrying out tender is published on the official site of state body. The term of publication of the announcement of carrying out tender constitutes at least three working days.

Candidates for position of the administrator within three days from the date of giving in state body of the statement (petition) specified in Item 7 of this provision shall provide to tender committee the following information:

- the copy of the documents confirming availability of the higher education;

- the copy of the document confirming length of service as the administrator it (is desirable);

- data on results of work as the administrator on prior objects it (is desirable).

Tender is carried out in two steps:

1) qualification selection, verification of documents on compliance to requirements of this provision;

2) interview with tender committee.

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