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The document ceased to be valid since  October 21, 2019 according to Item 2 of the Resolution of the Cabinet of Ministers of Ukraine of  July 24, 2019 No. 664

RESOLUTION OF THE CABINET OF MINISTERS OF UKRAINE

of April 1, 2013 No. 244

About approval of the Procedure for alienation in the procedure of sanitation of property of the debtor by replacement of assets

(as amended of the Resolution of the Cabinet of Ministers of Ukraine of 10.05.2018 No. 359)

According to part two of article 34 of the Law of Ukraine "About recovery of solvency of the debtor or recognition by his bankrupt" the Cabinet of Ministers of Ukraine decides:

Approve the Procedure for alienation in the procedure of sanitation of property of the debtor by replacement of assets which is applied.

Prime Minister of Ukraine

N. Azarov

Approved by the Resolution of the Cabinet of Ministers of Ukraine of April 1, 2013, No. 244

Procedure for alienation in the procedure of sanitation of property of the debtor by replacement of assets

1. This Procedure determines the alienation mechanism in the procedure of sanitation of property of the debtor by replacement of assets (further - property acquisition).

2. Property acquisition implementation, terms of its implementation, the item-by-item list of property of the debtor which is transferred to neogenic economic society, the list of obligations of the current creditors according to which debts are translated together with such property, the list of obligations according to which rights to claim give up, provided by the plan of sanitation.

3. Actions for providing requirements of creditors concerning property of the debtor which is subject to alienation according to the plan of sanitation are cancelled by the resolution of economic court.

4. The complete property complex of the debtor or the part of property of the debtor determined by the plan of sanitation with the corresponding (pro rata) part of its obligations can be subject to alienation according to this Procedure (except obligations which arise according to requirements of competitive creditors).

In case when the debtor is asset holder of state-owned property which did not enter the authorized capital of economic society in the course of privatization (corporatisation), such property is not subject to alienation in the procedure of sanitation.

In case of determination of the corresponding (pro rata) part of obligations of the current creditors according to which debts are transferred to neogenic economic society cost is not considered:

objects of housing stock, including hostels, children's preschool institutions and objects of municipal infrastructure which belong to the debtor;

the property excluded from turnover;

state-owned property which did not enter the authorized capital of economic society in the course of privatization (corporatisation), but is on its balance.

5. The managing director of sanitation provides determination of initial cost of property of the debtor which is alienated, according to the legislation on assessment of property, property rights and professional estimative activity.

After determination of initial cost of property of the debtor it is forbidden to make any actions directed to change of its cost.

6. In case of alienation of complete property complex all types of the property intended for conducting business activity of the debtor, in particular the room, constructions, the equipment, stock, raw materials, products, rights to claim, the rights to signs (designations) which individualize the debtor, its products, works, services (trade name, signs for goods and services), other rights which belong to the debtor, except the rights and obligations which cannot be transferred to other persons, and secure things of the debtor concerning which secured or other creditors make the decision on their apportionment from property of the debtor are in accordance with the established procedure alienated.

7. The decision concerning the parcels of land which are property of the debtor are provided to it in permanent or temporary use, in particular under lease, is accepted according to Land by the code of Ukraine.

8. Departure of requirements and transfer of debt is made irrespective of the bases of their origin.

9. In case of alienation of part of property the quantity and its amount shall be such that the debtor and neogenic economic society had possibility of conducting business activity.

In case of alienation of part of property the termination of production cycle of production is not allowed.

Alienation of part of property shall not limit conducting productive and other activity by the debtor and/or according to economic, technical or other performances further use of property which remained on balance of the debtor, and also to influence integrity of property complex of the debtor.

10. Property acquisition is performed by education based on property of the debtor of economic society. The type of economic society is specified in respect of sanitation.

In the authorized (compound) capital of economic society property assets (property and property rights) are transferred, including rights to claim give up, and also debts according to requirements of the current creditors are translated.

11. From the moment of approval of the plan of sanitation until formation of economic society the satisfaction with the debtor of the current requirements which are determined in respect of sanitation as such which are translated to neogenic economic society in the course of replacement of assets is not allowed.

12. The size of the authorized (compound) capital of neogenic economic society is determined as difference between the cost of property assets and cost of debts by requirements of competitive creditors. The cost of property assets is the initial cost of property determined according to Item 5 of this Procedure.

13. The managing director of sanitation not later than the next working day after state registration of neogenic economic society in writing reports:

to debtors according to obligations, requirements for which are departed, - about such departure;

to the current creditors on debts which are translated, - about such translation.

14. Formation of economic society is performed by the managing director of sanitation on behalf of the debtor according to the procedure, established by the legislation, taking into account such features:

the document which certifies fee in the authorized (compound) capital of neogenic economic society is the act of acceptance transfer which confirms the fact of transfer of complete property complex of the debtor or the sanitation of part of property of the debtor determined by the plan in the authorized (compound) capital of such society;

until forming of governing bodies of neogenic economic society after sale at the auction according to the procedure established by the Law of Ukraine "About recovery of solvency of the debtor or recognition by his bankrupt" of shares (shares) in its authorized (compound) capital of power of such governing bodies the managing director of sanitation performs.

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