NORMATIVE RESOLUTION OF THE SUPREME COURT OF THE REPUBLIC OF KAZAKHSTAN

of October 2, 2015 No. 5

About practice of application of the legislation on rehabilitation and bankruptcy

Having studied practice of application by courts of the legislation on procedures of rehabilitation and bankruptcy and for the purpose of uniform application of regulations of the current legislation about rehabilitation and bankruptcy, the plenary session of the Supreme Court of the Republic of Kazakhstan decides:

1. The legislation of the Republic of Kazakhstan on procedures of rehabilitation and bankruptcy is based on the Constitution of the Republic of Kazakhstan and consists of the Civil code of the Republic of Kazakhstan (further – group of companies), the Code of civil procedure of the Republic of Kazakhstan (further – GPK), the Entrepreneurial code of the Republic of Kazakhstan (further – the Entrepreneurial code), the Law of the Republic of Kazakhstan of March 7, 2014 No. 176-V "About rehabilitation and bankruptcy" (further – the Law "About Rehabilitation and Bankruptcy"), other laws and regulatory legal acts establishing features of application of procedures of rehabilitation and bankruptcy concerning certain business entities.

According to Item 2 of article 2 of the Law "About Rehabilitation and Bankruptcy" if the international treaty ratified by the Republic of Kazakhstan establishes other rules, than those which are provided by the Law then are applied rules of the international treaty.

2. Cases on bankruptcy, rehabilitations, the accelerated rehabilitation and about insolvency settlement, and also cases on attraction to subsidiary responsibility of officials (debtor) are considered by courts on general civil procedure rules with the features established by the Law "About Rehabilitation and Bankruptcy".

Cases of the specified category are jurisdictional to specialized interdistrict economic freighters of areas, the cities of Almaty and Astana and to consideration according to the procedure of the correspondence production are not subject.

3. According to article 3 of the Law "About Rehabilitation and Bankruptcy" of feature of application of insolvency proceedings concerning certain business entities depending on their legal status and activity can be established by the legislation of the Republic of Kazakhstan.

Features of forced reorganization and liquidation of banks and insurance (reinsurance) organizations are established by the bank law and the legislation on insurance and insurance (reinsurance) activity.

The bases of involuntary liquidation of the cereal-receiving and cotton-processing companies, features of realization of the estate and priority of satisfaction of requirements of creditors are provided in the Laws of the Republic of Kazakhstan of January 19, 2001 No. 143-II "About grain" and of July 21, 2007 No. 298-III "About development of cotton industry".

Legal acts establish separate features of procedures of rehabilitation and bankruptcy and concerning the accumulation pension funds, agricultural producers.

Application of insolvency proceeding taking into account legal status of business entity - individual entrepreneurs and peasant farms - is regulated by Article 21 of Civil Code and article 39 of the Entrepreneurial code.

Procedures of rehabilitation (the accelerated rehabilitation) are not applied to individual entrepreneurs and peasant farms.

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