Law Firm's Reorganization

Original Language Title: Laki yrityksen saneerauksesta

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Read the untranslated law here: http://www.finlex.fi/fi/laki/ajantasa/1993/19930047

In accordance with the decision of Parliament: Chapter 1 General provisions article 1 the purpose of the law and the relationship between the financial difficulties of the debtor, the rest of the law jatkamiskelpoisen for the reorganisation of the business, or to ensure the security and to bring about the conditions in which the debt arrangements can be taken in accordance with this law. The procedure can be used to impose the Court by strengthening the restructuring programme activities, assets and liabilities of the measures as specified in this law. (2 March 2007/247)
The provisions of this Act shall be applied without prejudice to the right of the creditor, what the rest of the Act provides for the payment, debt collection or action in order to secure the payment of the debt.

section 2 scope of application of the Restructuring (19.12.2014/1211), which are the subject of the procedure can be a sole trader, partnership, limited partnership, limited liability company, cooperative, housing, limited liability company, or association engaged in economic activity or the Foundation. The supplier for the purposes of this Act or of the farm economy in the profession, or fishing on the carrier. (24.4.2015/490)
The subject of the composition proceedings may not be: 1) the law on credit institutions (610/2014) for a credit institution;
2) insurance or pension institution;
3) liquidation of the company, cooperative or Foundation;
4) of credit institutions and investment firms, the solution to the crisis (1194/2014) in the management of the crisis in accordance with the set.
(24.4.2015/490) Deposit bank restructuring proceedings provided for in the law on the temporary suspension of the activities of a deposit Bank (1509/2001).

the definitions in article 3 of this law the following definitions shall apply: 1) vireilletulolla of the application the date on which the application for the initiation of composition proceedings is referred to;
2) taking place at the time the proceedings of the date on which the Court has taken a decision on the opening of composition proceedings;
3) insolvency of the debtor, other than temporarily, that it is unable to pay its debts when they fall due;
4) threatening insolvency of the fact that the debtor is in danger of becoming insolvent;
all of the debtor's restructuring liabilities 5) liabilities that are incurred prior to the opening, including secured debts, as well as the number of the base or is subject to any dispute or for any other reason, or unclear; the cleanup as a liability does not, however, considered to be the responsibility of the Foundation set up by the pension shortfall of the debtor;
the right of ownership of the object security arrests 6) and change the ownership of the security, the lien based on the movable or immovable property, as well as the right of call-back, and their destination priority productive right of retention;
7) guarantee liability a restructuring of debt of the creditor's security right effective against third parties object to the property of the debtor, or the debtor, to the extent that the value of the collateral at the beginning of the procedure, it would have been enough to cover the amount of the claim of the creditor in the rahaksimuuttokustannusten and, after deduction of the debts to be carried out at a higher privilege should last;
8) vakuusvelkojalla guarantee debt creditor;
9) viimesijaisella-the kind of debt, which may accumulate in the execution only after the other debts.
(2 March 2007/247) is repealed by L:lla on 2 March 2007/247.
If the debtor's assets as collateral for the debt of a third party is at the beginning of the procedure, the consequent liability for the security of the debtor of the debt shall apply correspondingly.
The present value of the interest rate provides an appropriate index, designed so that for each quarter to be carried out again last quarter the interest rate corresponds to the change in the annual rate that can be converted into an index.

for the purposes of article 4 of the Individual responsible for the status of the provisions of this Act with respect to a debtor shall be treated under the law, which is the personal responsibility of the debtor's liabilities. However, this does not affect the rights and obligations of such a person, in so far as they do not relate to the activities which are the subject of the procedure.
The restructuring program are included in the debt settlement are also valid for the benefit of the debtor's commitments in personal charge of the.
Chapter 2, section 5 of the Reorganisation proceedings and suspension of the legitimate Application of judicial settlement of the initiated can do: 1) the debtor;
2) debts or more debts together, does not, however, a creditor who has a right to have any dispute or for any other reason, the amount of substance, or ambiguous;
3) it, to which the debtor's inability to pay the rest of the point estimates of the contribution of the law is likely to cause economic loss (probable liabilities).

the conditions of section 6 of the Reorganisation proceedings may be opened, if: 1) at least two claims of the creditor, the debtor, the total of which represent at least the fifth known debts and who do not have a withdrawal, the estate of the law (758/1991), as referred to in paragraph 3, together with the debtor, the debtor's close, make the application or report in favour of the application of the debtor; (2 March 2007/247) 2) inability to pay; or 3) the debtor is unable to pay and not under section 7, paragraph 1, subject to change.
On the basis of the threat of insolvency proceedings on application by the creditor or the creditor may be likely to start only if it is necessary in order to safeguard the interests of the applicant or its considerable economic jeopardy.

section 7 of the obstacles and the criteria for suspension of judicial settlement procedure cannot be initiated if: 1) the debtor is insolvent and it is likely that insolvency is not restructuring programme to be deleted or that the renewal cannot be contained by other than in the short term;
2), it is likely that the debtor's assets are not sufficient to cover the cost of the reorganisation procedure and no one else has committed to meet these costs;
3), it is likely that the debtor is unable to pay its debts following the opening of the proceedings;
4) there is good reason to believe that the main purpose of which is to prevent the recovery of the creditor a creditor or the debtor's actions or other violations of law;
5) there is good reason to believe that the restructuring programme to strengthen the conditions for bringing about or it is not; or 6) the debtor's accounting is essentially flawed or invalid, except where it is shown that the records may be readily placed on the appropriate and reliable.
Unless special reasons exist, the response to reorganisation proceedings cannot start if: 1 in favour of the debtor, the debtor's or someone else's) to have acted as the reason for the activities which are the subject of the procedure in question has been the restructuring of the Penal Code (39/1889) from 1 to 3 or 6 of chapter 39 of the crime or offence or criminal or gross accounting ledger he is wanted for such an offence, or has reasonable grounds to suspect him of committing such a crime;
2) the debtor, velallisyhtiön General a man or velallisyhteisön in the management of a person is the subject of the activities of the composition proceedings infringed or is wanted such an offence, or has reasonable grounds to suspect him of committing such a crime; or 3) the debtor, velallisyhtiön General a man or velallisyhteisön in the management of a person is found guilty of or has reasonable grounds to suspect him of having committed to the procedure, on the basis of which he could be conducting business.
(2 March 2007/247) If, after the opening of the procedure, it turns out, the fact as referred to in sub-section 1 or 2, the procedure referred to in article 8, to the liquidator or any creditor or debtor's order to stop. The situation referred to in the first subparagraph of paragraph 1, does not, however, preclude the continuation of the proceedings, if it is likely that the company's assets, or an integral part of it, in the order of this law may be released as a single unit. (2 March 2007/247), as well as the administrator and the creditors ' Committee the debtor's Chapter 3 myötävaikutusvelvollisuus section 8 Administrator the Court shall order the administrator, with the task of monitoring in order to ensure that the purposes of the procedure and in the interest of the creditors: 1) to report to the debtor's assets, liabilities and other commitments, as well as the financial position of the debtor and its expected development;
2) to monitor and control the activities of the debtor in the course of the proceedings which are the subject of the procedure;
3) to the full extent of the debtor before the commencement of the procedure to ensure the activities of the inspection;
4) may, where appropriate, by the debtor the right to posts which may be taken pursuant to article 36 and 37, as well as use in accordance with article 31 of the speech power of the debtor;
5) take care of drawing up a proposal for the reorganisation of the program;
6) will carry out the tasks provided for in Chapter 10.
Liquidator's task is to monitor and control the activities of the debtor and the debtor's creditors and at the request of the Court of Justice concerning the operation of the information, which may be relevant when considering the composition proceedings to be opened. (2 March 2007/247)
Liquidators may provide more than one, if it is necessary by reason of the scale or the expertise of the tasks or in order to safeguard the interests of the various proceedings, shall stay the proper control. The tasks mentioned in paragraph 1 above, may also be necessary to distinguish different from person to person.

An administrator has to be as known as the age of a person who is not bankrupt and that action has not been limited. He shall have the necessary ability, skill and experience to the task. He may not be the debtor and any debts in a proportion which may be liable to endanger his independence in relation to the debtor or his equal half part as against creditors, unless the section from article 83 subject to change. A person who has consented to, Dr pol SC, must inform the Court of all the points, which can be more than likely to jeopardise the achievement of his Republic party and independence as a receiver or to cause justified doubts as to his independence as also for and. (2 March 2007/247)
The liquidator's task will take up to and after the cessation of the composition proceedings, to the extent that is necessary for the cessation of the notification and the procedure for notifications, as well as of the completion of the tasks referred to in paragraphs 4 and 5. The task of the provisional liquidator will last until, until such time as a decision to initiate the procedure, or the procedure before it is finished, or the court orders otherwise. (2 March 2007/247)
The certificate shall be submitted to the Court of his määräämisestään to the task. (20 February 2004/133), section 9, of the rights of the administrator shall be entitled to have the debtor's management in carrying out their duties, at the premises to be used for the company's needs as well as to examine the debtor's accounts, business correspondence and other business records and files. Notwithstanding the provisions on secrecy, the administrator is the same right as the debtor to get information about the debtor's duties for the bank accounts, payments, financial agreements and commitments, the debtor's assets, the financial position of the debtor, or for taxation and other activities undertaken by the debtor.
The administrator has the right to take part in the meetings of the velallisyrityksen institutions and to use the power of the President. The liquidator shall be invited to such meetings.
The administrator has the right to use in carrying out their duties, accompanied by experts.

section 10 of the creditors ' Committee of the Court, the applicant as common representative of the creditors, the liquidator or the creditor's claim to set the creditors ' Committee, unless it is a small number of creditors or for any other reason not to be regarded as unnecessary. Velkojatoimikunnassa must be at least three members. The composition of the creditors ' Committee shall lay down in such a way that different this is why, as the secured creditor and the creditors, which is available to each other similar to the argument, will equally represented. The composition of the creditors ' Committee may also be imposed in such a way that the main creditors of the debtor's operations are represented in terms of, if this is likely to contribute to the efficient functioning of the creditors ' Committee. (2 March 2007/247)
The creditors ' Committee has the task of the advisory body to assist the liquidator or any creditor on behalf of tasks, as well as for the control of the administrator.
Velkojatoimikunnalla and its members is to carry out its tasks, the right to receive information about the full extent selvittäjältä, section 9 of the elements referred to in paragraph 1.
If the debtor's main interests in the service of the employment relationship on the basis of the number of staff on a regular basis is at least 50, the debtor's employment and economic development centre, the seat of the Council is hereby authorized to designate the management of Labour Affairs, representative of the velkojatoimikuntaan one of the person who will be permitted to participate in the work of the Committee without voting rights. (6 November 1998/816) section 11 (2 March 2007/247), the liquidator, the liquidator shall report to the duty under section 8, referred to in paragraph 1 of the report, or a summary of the scheme, the major creditors without delay at the request of the other creditors of the debtor and of the bankruptcy attorney. The liquidator shall on a regular basis and always, when the need arises, be informed of the monitoring, control and inspection of their activities and findings to the scheme to his duties or, if this is not the case, the creditors and negotiate with these major decisions before they are taken. If an administrator becomes aware that the debtor has essentially failed to pay their debts, the liquidator is not restructuring liabilities be informed of this as well.
At the request of the creditor of the debtor or the liquidator must determine the criteria for the assessment of the claim for remuneration as well as the total cost of the cleanup process. If the assessment of the facts will change substantially, the administrator shall provide to the debtor a later date and creditors in the new estimate.

Article 12 of the Liquidator and the creditors ' Committee's disqualification, the administrator or member of the creditors ' Committee is not eligible to participate in the agreement between him and the of the debtor. He is also not allowed to take part in an agreement between the debtor and a third person, if he or she has the essential interest, which may be in conflict with the interests of the creditor of the debtor's or someone else's.

section 13 of the debtor's information and myötävaikutusvelvollisuus, the debtor is obliged to provide to the Court, the liquidator and the information required by the scheme to these facts, which may be of interest to the cleanup process and restructuring programme.
The debtor is obliged to contribute to the fact that the liquidator and the creditors ' Committee may properly carry out its tasks and that the reorganisation procedure can be properly completed.
Where the debtor is an entity, the Member of the Board of Directors, the ceo and the community's commitments to comply with the article personally responsible for the obligations referred to in this. Of the debtor, the obligations of the person must be completed, in so far as they related to his duties.

section 14 of the Secrecy of the creditors ' Committee member or by a creditor, the administrator, in the service of the person, or to a combination of those used by the contributor or expert is not an unauthorized display or use the private advantage of the debtor's financial position, business relations or business secret which he has become aware in connection with the procedure.
Chapter 4 the effects of the opening of composition proceedings, section 15, of the commencement of the debtor's liabilities restructuring proceedings does not affect the commitments entered into by the debtor already, unless otherwise provided for below.
The start of the procedure, to suspend the accumulation of interest on the restructuring of debt. The same applies to other kinds of payment delay penalties, depending on the length of delay.
The application in question after the debts arising from article 32 provides for the reinstatement of the payment of the debt and the liabilities arising under section 38 again. (2 March 2007/247) section 16 of The rules relating to the Restructuring of the transactions during the procedure of the application during the period from the start of the procedure in question and the legal action can be reversed, as provided for in section 6 of the.
Debt restructuring can be ignored, to the detriment of the debtor during the period referred to in subparagraph (1) of the amendment to the schedule for the payment of the debt.

section 17 of the vakuudenasettamiskielto after the beginning of the procedure of the payment and the debtor does not get paid for the restructuring of debt and set about security.
Contrary to the prohibition provided for in paragraph 1, the amount paid must be returned. The obligation for the payment of the Bill of Exchange or a cheque for the return shall, however, apply by analogy, what comes to the estate of the law (758/91) provides in article 11 and 21. If the creditor has a because of the debt security or if the set returned by the third was the return of the payment guarantee, shall apply by analogy, that the law of 19 and 21 of the Act provides, however, that article 19 of the debtor's inability to pay, the cleanup process begins.
Contrary to the prohibition provided for in subparagraph (1) of the banking or other lodging is ineffective unless the promissory notes or other securities or securities subject to the provisions relating to the other. After the beginning of the procedure for the attachment of the debtor's property, the application is that the privilege in favour of the restructuring of the debt.

section 18 of the exceptions to the prohibition on payment Vakuusvelkojalla is without prejudice to the prohibition laid down in article 17, the right to receive payment in accordance with the terms of the debt, the application in question after the occurrence of the interest rates and other credit costs. A creditor cannot enforce a condition for early payment of the cost of credit. (2 March 2007/247)
The above notwithstanding the prohibition laid down in article 17:1) is required to pay workers ' wages and compensation for the costs incurred by the application of the work to the opening of the edeltäneiltä three months, except where the liquidator declares that it attaches particular importance to the number of such debt or riitaisena; (2 March 2007/247) 2) is to be paid prior to the filing of the debts accrued employee vacation and compensation; (2 March 2007/247) (2) (a) the operation of the service of the employer) must be paid to the employee the amount of the claim at issue, based on the Office, which is responsible for debts arising from an employment relationship during the three months prior to the salary or pension separated; (2 March 2007/247) 3) has to be paid to the debtor's child maintenance to be carried out as far as the date of the application, it would have been kept with the privilege of the entry's, through precautionary garnishee; (2 March 2007/247)

4 by a decision of the administrator to pay creditors) can be used, whose claims are small, if it is appropriate for the procedure, as well as the use of a set-off of the debtor to the creditor, if the composition of the debt would be the equivalent of the right of set-off; (2 March 2007/247) 5) can be, if the administrator decides otherwise, will continue to market a MasterCard in the bank account of a relationship and the debtor has been informed that a series of future payments is diverted into normal commercial channels for this kind of account, as well as to read the account of the Bank for credit to the account of accrued contributions the truncation;
6) has to be paid to the debtor of the loan repayments and ably pension fund interest rates as far as it is necessary in order to safeguard the liquidity of the Foundation.

the ban on the Procedure for recovery after the debtor article 19 shall not apply to measures covered by the prohibition of payment to recover the debt or the execution of the restructuring. Already started measures should not be allowed to continue. The debtor is not in respect of such debt must not address the payment delay penalties. In the scope of the prohibition laid down by, inter alia, the following measures: 1) the liquidator may be given on the guarantee or the guarantee of the rights to use the call-back, and the rest of utilisation of payment;
2 termination of the debt and the debt of the debtor of the) the termination or dissolution of the payment as a result of this delay, with the exception of account, credit, or other termination or dissolution of the constant terms of the agreement for the new debt;
3 the credit institution's claim of set-off of the assets), which the debtor is a recovery at the start of the ban on the account of the credit institution or after or who, at the time, are pledging to the debtor's account in a credit institution, if the account to be the account according to the terms you use to payments; (2 March 2007/247) 4) breach of the debt to the debtor in the composition of the administrative decision based on a malicious. (2 March 2007/247)
Contrary to the ban is ineffective. If the amounts secured by way of the property is transferred, the successor in title may, however, contrary to the prohibition to a breach of good faith, as explicitly provided for. Prohibition does not prevent a creditor from the initiation or continuation of the trial or other proceedings, the purpose of which is to the right of retention or the enforcement order.
A creditor has the right of access to his composition during the procedure, a set-off against the debtor of the debt at the beginning of the procedure, the same criteria as in bankruptcy. Set-off statement must also be submitted. If the secured creditor a creditor as a debt is due for payment in advance at a specified time after the beginning of the recovery of the prohibition against the debtor of the amount of the claim, the creditor may be responsible for payment of the debt-to-GDP ratio continues to refrain from saneerausvelalliselle otherwise, the terms will continue to be, until the acknowledgement is carried out or the recovery of the ban expired. (2 March 2007/247)
The debtor's property, belonging to a movable object, which a deposit or an arrest warrant by virtue of the law is the requirement for the creditor to the debtor's management, the management, the administrator has to be returned if it is necessary for the continuation of the operation. The creditor will remain the privilege of access to the payment of the property's value, as well as the right to property management restored under section 20 of the cases referred to in paragraph 2, or if the procedure stops without the restructuring programme or under the scheme in the form of debt settlement is void. The property may not be released without the consent of the creditor.

section 20 of exemption from the prohibition on a secured creditor, the Court may request the recovery of the liquidator or any creditor, after consultation with the authorization granted under section 19, the rights referred to in paragraph 1, if: 1), it is apparent that the preservation of the property of the debtor, the security right is not necessary for the restructuring arrangements, or the debtor, or the members of his family a fair housing or livelihood; or 2) on which the claim is based is section 18 or section 33 of the payments as referred to in sub-section 1, or 33, subsection 2, of the obligation to insure against such liability for failure to act, that is not marginal.

Foreclosures and other implementing measures article 21 prohibition proceedings the debtor's assets shall not be liable to the payment of the restructuring of the debt covered by the ban. Contrary to the claims of the ban is ineffective. Ulosmittaushakemuksen processing is suspended. If the garnishment is already provided, the implementation must be stopped and the bailiff has handed over their property and any accumulated cash and cash equivalents of the liquidator. If the ulosmitatun property for sale is announced prior to the opening of the proceeding, the Court may order the cessation of, implementation of, and sales to be withdrawn, except if it is quite obvious that the question of the preservation of the property of the debtor is not 20, as referred to in paragraph 1 of article necessary. Implementation lies with the creditor has the right to get compensation from the debtor due to the cancellation of the sale of the implementation costs arising from duties.
After the beginning of the procedure must not be implemented at the debtor's control of the decision to evict these apartments, which is mainly used in the activities which are the subject of the procedure, if the eviction is based on apartment run prior to the filing of the opening of the overdue rent or other consideration given to acquire an omission. The same applies to the housing companies Act (1599/2009) the decision taken on the basis of the apartment to be used for that purpose on the company's management. However, at the insistence of the creditor, the Court may allow, if it occurred it would be unreasonable, taking into account the measures taken by the creditor has already taken in the apartment. (22 December 2009/1613)
The composition of the debt to the creditor proceedings will not be allowed to trade in the assistance of the hire-purchase Act (91/66) of the goods referred to in the repossession or the settlement. Vireilläoleva call or a settlement is to be suspended.
If the enforcement authority is prior to the opening of the proceeding set to appeal an interim order to suspend enforcement of the guarantee be valid or other, if required, the guarantee shall be returned to the liquidator or, if the security is set by a third party, for this.

section 22 of the interim injunction, the Court may, upon the application of the applicant for, or the debtor's date of order 17, 19 or 21 to the prohibition referred to in article as a temporary place for prior to the opening of the proceeding, if it is considered to be in need. The creditors and the debtor may be issued without prior consultation, if the urgency of the matter, shall be deemed to so require.
The decision, which is prescribed for temporary prohibition as referred to in sub-section 1, may not be contested separately.
Provided for in the provisional liquidator under section 83 (a). (2 March 2007/247) the ban on the proceedings of safeguard measures pursuant to article 23 of the debtor should not be on the basis of the composition of the debt target, based on the decision of the authority they otherwise than under section 30. Prior to the opening of the proceeding at the start of the procedure prescribed by a detention order expired, unless the court orders otherwise pursuant to section 30 of the.

the relationship between article 24 of the bankrupt if, when the application of judicial settlement is made, the application for the setting up of the debtor is also pending in the bankruptcy, the bankruptcy filing will not be resolved before the decision on the opening of composition proceedings has been made. The same is required if an application for the entry of reorganisation proceedings initiated, but before the proceedings, shall be made in the application for the setting up of the debtor in bankruptcy. If composition proceedings are opened, the bankruptcy filing will lapse after the reorganisation programme confirmed. If the application of judicial settlement is rejected or judicial settlement provides for the strengthening of the programme, to stop other than a bankruptcy proceedings continue. In the event of an appeal are the provisions of article 96 (2). (2 March 2007/247)
If the debtor has applied for, or to announce they are seeking a review of the decision of the language in which the application of judicial settlement referred to in subparagraph (1) or has been abandoned, later brought an application for declaration of bankruptcy of the debtor, that the Court may, on the request of the debtor, to postpone the decision on the adoption of the Declaration of bankruptcy until the complaint is resolved in the Court of appeal or the case for any other reason ceases to exist. Is subject to the condition that the postponement is especially weighty reason for taking account, in particular, of the grounds on which the debtor is the appellant or which he or she shall inform the registered he will invoke the. The decision on suspension shall not be subject to appeal. If the debtor is declared bankrupt, the debtor, the Court may order that the bankrupt is not allowed to sell your property in more than is necessary in order to avoid losses or bankruptcy to pay the costs of the Administration and management of the property before the decision on the judicial settlement procedure has the force of res judicata or issue. (2 March 2007/247)
An application for a judicial settlement procedure, which was the case of the debtor in bankruptcy, is inadmissible.

The cleanup process after the debtor the creditor's application may be declared bankrupt at the beginning of the procedure only if the debtor was insolvent and the circumstances are such as section 7, referred to in paragraph 1, or if the question of the application of the bankruptcy application is based on restructuring the debt. In the latter case, the Court shall consult the receiver of the debtor's bankruptcy, and the request may be postponed for no more than one month, if it is for the continuation of specific cogent reason for the judicial settlement procedure. The decision on suspension shall not be subject to appeal. If composition proceedings, the debtor is declared bankrupt, ceases to exist. (2 March 2007/247) to a third party of the creditor's right to charge the article 25 of the reorganisation proceedings does not prevent restructuring debts by the value of the security required from the guarantor or by a third person or from terminating or otherwise of the guarantor or any security of the type described above, the eräännyttämästä owed in respect of the undertaking, if the referral of the guarantee or guarantee in respect of the deemed business-or the set. What has been said above with respect to the guarantor also applies to kanssavelallista. Requiring the guarantor does not require the debtor to run targeted eräännyttämistointa. (on 6 November 1998 of 794)
If a guarantor, kanssavelallisena of a deposit or the provision of a setter is other than a person referred to in paragraph 1, the provisions of article 19 to 22 for the collection of the debt, respectively, by the kanssavelalliselta, or the value of the security. For the purposes of article 20, it is in such cases, the liquidator instead of consult security ‑ proceedings. (2 March 2007/247)
The guarantor, kanssavelallisen and the role of debt arrangement provides for the referral provided for in article 42 and article 48.

section 26 of the debtor's right to pay a debt owed to an early, the security guarantee of the commitment or contract can be terminated by a decision of the administrator after the beginning of the procedure for the payment of the debt-premature. In this case, the creditor's claim must be deducted from the remaining part of the cost of credit, which is to use the remaining credit at the time. The costs incurred in the setting up of the credit relationship, which is specifically mentioned in the agreement and which is not unreasonable, however, is not a reduction. Hire-purchase agreement within the meaning of the Act on trade-based, in accordance with the residual debt provided for, what is called the law provides for the Bill.
Termination of guarantee of the debt can be without prejudice to the decision of the liquidator's costs if it is appropriate for the debtor's financial arrangements.

the role of certain agreements, article 27 of the lease or rental agreements separate from the credit agreement, in which the debtor is the borrower's side of the vuokralleottajana, may be the beginning of the procedure to terminate the 29 and in accordance with the provisions of section 30 of the finish on the two months after the termination of the contract without prejudice to the conditions relating to the duration or termination. Due to the early termination of the agreement, compensation includes expenses incurred in the return of property, as well as fair compensation for any other damage caused by the lessor from him. In addition, the credit agreement shall be subject to the hiring what provides in article 26 of the use of the remaining time of the reading of the debtor, the credit for the benefit of the credit costs. (on 6 November 1998 of 794)
It, which is prior to the opening of the proceeding by the agreement on the performance of the debtor but is committed to the opening of the procedure, without prejudice to article 17, is entitled to receive payment for his performance, if the performance of the operation of the debtor may be considered normal.
If someone has committed itself to the debtor prior to the opening of the proceeding by the agreement referred to in paragraph 2, the performance of the obligations of the other as if the person is at the beginning of the procedure and has not fulfilled its obligation to pay under contract, the liquidator shall, upon request, communicate to the opposing party, whether the debtor. If the answer is in the negative, or it is not provided within a reasonable period of time, the opposing party may cancel the contract.
The compensation, which 1 or in the cases referred to in paragraph 3 shall be carried out due to the termination of the agreement, or where the debtor's restructuring, is in debt, and take into account notwithstanding the opportunities below.
The right of employees in the context of the procedure provided for in the employment contract law, reorganisation (320/70).
TyösopimusL 320/L:lla 55/2001 has been repealed in the 1970s. TyösopimusL 55/2001, Chapter 7, section 7.

the period of validity of the legal effects If section 28 of the restructuring in the event of an appeal to a decision to initiate the procedure, the legal effects of the opening of the procedure, including the liquidator's rights and restrictions on the debtor's control, will remain in spite of this force. Cease, if the decision to initiate the procedure on the verification is revoked or the Court in which the case is pending, do so by reason of an appeal.
The effects of the opening of the proceedings will continue until the reorganisation programme confirmed. If the reorganisation procedure stops without the restructuring programme, the strengthening of the legal effects of the opening of proceedings shall cease when the decision of the Court of the debtor's bankruptcy or cessation of the procedure have been set, unless the Court, for special reasons, the effects of that will be in effect until such time as a decision has the force of res judicata or issue. If the debtor is placed in liquidation proceedings, the legal effects of the opening of proceedings shall cease at the start of the liquidation. (2 March 2007/247)
If the reorganisation procedure stops without the restructuring programme, for a reason other than the debtor, owing to the bankruptcy of the establishment, in accordance with article 21 of the estynyttä or the implementation of the assistance may be interrupted or the cleanup process the removal of the effects of the implementation of the right to continue with the earlier-or on the basis of the official apuhakemuksen.
When deciding on the request of the creditor due to the cessation of the procedure at the same time, the Court may impose a detention order referred to in article 23. If at the beginning of the procedure was in force the debtor or his property on a detention order, the Court shall order it to come again into a measure, unless the creditor to the debtor's Declaration of bankruptcy or the imposition of change or action not otherwise lost in importance.
Chapter 5 of the debtor and the debtor's assets in the course of the procedure article 29 of the vallinta control and its limitations, even after the opening of the proceedings, the debtor will retain the power to impose property and, if the law does not provide otherwise. If the notification of the debtor's property is the composition of the debt prior to the opening of the proceeding, the property may be imposed in accordance with this Act provides for the Enforcement Act, Chapter 4, without prejudice to the provisions of section 30.
After the beginning of the procedure, the debtor does not, however, without the consent of the liquidator may be: 1) make a new debt, unless the issue is not the debtor's ordinary activities are associated with the debt, which is the amount of or conditions is not unusual;
2) disclosed to the undertaking or any part of it, nor use or financial assets or intellectual property rights or other rights that are necessary for the operation;
3) grant access-or other right to the assets referred to in paragraph 2, unless the issue is not related to the debtor's ordinary work;
4) to dispose of the property, other than the Exchange in accordance with its usual criteria, as part of the normal operation;
5) to terminate the operation of or the point of view of conditions for continued necessary agreements;
6) the lodging of a security, or to give more responsibility to the commitment on the issue of the debt by the debtor, unless the second have of the ordinary activities, which is not unusual for a minor or treatment;
7) to take any other action that the debtor, by reason of the scale and the nature of the unusual or far-reaching; nor is it 8) to dispose of their property in bankruptcy.
Contrary to the provisions of paragraph (2) of the 1-7 was the right to work is ineffective, except if the other party does not know and he should not have been aware, that the debtor was not entitled to do that Act.
UlosottoL 37/1895 L:lla 705/2007 is repealed. Ulosottokaari 705/2007 Chapter 4, section 37. DC. (A) section 6 of the company's 98, 55/1993.

section 30 of the debtor's control over the specific restrictions on the debtor's control can be an administrator or a requirement also limits otherwise than in the manner provided for in article 29 of the Act, if there is a risk that the debtor is to the detriment of the creditor's interest or the risk. The debtor may, inter alia, to prohibit the: 1) in accordance with the law by the Act;
2) from making a particular kind of legal action without the consent of the administrator;
3) from taking a measure (s), which can be expected to lower the valuation of assets of the debtor or his control.
Prohibition or restriction can be imposed as a temporary and without consulting the debtor, if the urgency of the matter so requires.
The ban was the purpose of the periodic penalty payment may be imposed.
Contrary to the restrictions provided for under this section of the Act is ineffective, except if the other party does not know and he should not have been aware, that the debtor was not entitled to do that Act.

section 31 of the debtor, the debtor, the debtor is the President of power and communications will continue to use the power of a preliminary ruling in the proceedings pending in the trial or other similar proceedings, in which he is a party, if the administrator decides to take to the debtor. The same applies to the proceedings initiated on the future of the trial or other proceeding.

On behalf of the debtor shall have the right to make a claim, or the initiation of a trial or any other security deemed equivalent thereto in a procedure, and the President, on behalf of the debtor, the power of the use case.
The notification may, on behalf of the debtor, receives also the administrator.

32 section (2 March 2007/247) of the application in question after question after an application generated by the debt incurred must be paid as and when they fall due. The same applies to the ongoing contractual relationship or continuous consideration of the operation and management of the relationship, or any other current payments, on the application in question.
If, on application by the debtor is declared bankrupt, which was before the end of the restructuring programme, or, if the procedure is stopped without a restructuring programme to be strengthened, the sort of application, which has been pending in the course of reorganisation proceedings or was within three months of the procedure of any cessation of cover, during the period from the beginning of the procedure and to the reinstatement of the funds to settle claims and to those born in the sheer amount of interest shall be paid to the bankruptcy creditors payment Act (1578/1992) after the claims referred to in paragraph 3 of its best covering claims attaching to the. The payment of the premium and the compensation of the administrator and the administrator, as well as for the sheer amount of resources to settle the interest is paid, however, in the first place.

the value of the collateral securing 33 of section Vakuusvelkojalla is entitled to compensation for a reduction in the value of the collateral assets to the detriment of the creditor of the debtor's assets, which is due to the action of 19 or 22 during the period of validity of the prohibition referred to in article. Read the guarantee of the debt the truncation of the sums paid out as compensation.
The amounts secured by way of the debt, the debtor has to be regarded as restructuring, the recovery of the property covered by the prohibition on properly insured against damage.

section 34 of the new credit, the privilege of the application by the liquidator, the Court may order that during the procedure, as described in the decision on credit in the capital, is the same or better to guarantee the ' eurotax ' on the assets of the debtor of the credit to the priority as restructuring debt, which is secured by the same property. Is subject to the condition that such an arrangement is necessary in order to obtain the necessary funding in the course of the procedure and does not significantly increase the risk of creditors, whose privileged position would be weakened. The arrangement does not affect the position of the creditors mentioned in the vakuusvelkojina.
Before the Court of Justice referred to in paragraph 1 shall be reserved for the interests of the debtor and to drive change in the order of priority would, given an opportunity to be heard.
In the case of a measure based on the registration of mortgages or other security, the change in the order of priority prescribed by the Court of Justice is the liquidator or a new creditor's application relevant to the register, and the registration of the mortgage, or it shall enter into force on the date on which such application is made. In the case of other forms of guarantee, the privilege of the order for the change to take effect, after the Court's decision has been communicated to the creditor holding security up to the privilege. You can run the administrator or the notification of the new creditor within the meaning of article 81.
Chapter 6, section 35 Takaisinsaantiperusteet and set aside restructuring proceedings the right to demand the recovery of the right to work, which could back down, where the cleanup process should be retrieved in the context of the procedure can be reversed on the restructuring, bankruptcy, similar criteria as laid down in the Act on the estate and info in accordance with the law, what is called the third also.
By a date, to be considered in the cases referred to in paragraph 1 of the date on which the application of judicial settlement was made or, if the application for the setting up of the debtor in bankruptcy at the time, was pending, the date on which the application for bankruptcy was made. If the pending bankruptcy, reorganisation proceedings, or had a number of requests for the purpose of determining the day of, the number of the day, the date on which the application was first initiated.
The judgment may require the liquidator or any creditor, as provided for in articles 36 and 37.

at the insistence of the liquidator, the liquidator shall set aside 36 of section to be REM initiated within six months of the procedure. The application may, however, be brought still more than three months after the administrator has determined the basis for recovery can or should have been discovered.
The liquidator's request for reinstatement based on the context, the withdrawal, from 15 to 19 of the law on the estate section's provisions shall apply to the provision of the bankruptcy estate apply by analogy to the debtor.

Application to set aside the requirement of § 37 of the creditor, the creditor who wishes to claim the priority of the judgment, shall inform the liquidator. The creditor must not take the call, if the administrator is not to become.
When the recovery will require one or more of the debts, is, mutatis mutandis, to comply with what the Enforcement Act, Chapter 3, 84, 89 and 90. What of the creditor's action or compensation shall be without prejudice to the provisions of this law to be used in order to carry out the applicant's claim. (27.6.2003/690)
The proceedings provided for in paragraph 2 of the creditor must be initiated within six months of the commencement of reorganisation proceedings. The Court must be given the benefit of the liquidator the opportunity to be heard on the matter. The liquidator may take to drive the action by giving written notice to the Court, in a statement. In this case, the application is considered for an administration based on the requirement, and the creditor has the right to have the debtor's funds in the compensation proceedings. The Court determines the compensation for the resulting dispute. (2 March 2007/247)
UlosottoL 37/1895 has been repealed Ulosottokaarella 705/2007, see Ulosottokaari 705/2007 Chapter 3, section 84, 89 and 90.

Article 38 due to Be born in debt, which recovery can charge for recovery can be imposed on the defendant for the creditor, a review must take into account the restructuring liability notwithstanding the opportunities below.
Chapter 7, section 39 of the programme content of the reorganisation programme restructuring programme shall include a statement of the debtor, in accordance with article 41 of the financial position and the other is admitted to the facts, as well as the provisions referred to in article 42 of the debtor and creditors on the renewal, modification or suspension of activities, measures and arrangements. The program will occur in accordance with section 51 categories of distributions to creditors, as well as the voting rights referred to in article 52.

section 40 of the proposal, the liquidator shall draw up a proposal for a restructuring programme and submit it to the Court within the time limit set by this, that is for no particular reason must not be longer than four months.
In drawing up its proposal for the liquidator of the debtor and the creditors ' Committee is to negotiate and, where appropriate, the creditors and the creditor applying for the likely procedure.
The reorganisation programme on the due date referred to in subparagraph (1) during the presentation of the proposal shall also be entitled to: 1) the debtor;
2) it, which is personally responsible for the debts of the debtor;
3) those who own at least one fifth of the velallisyhtiön shares or shares of both of them;
4) the secured creditor whose claims total claims of secured creditors representing at least a fifth of all;
5) creditors, whose claims of secured creditors representing at least the fifth of the total of the claims other than.
Proposal for eligible persons have the right to be selvittäjältä the information that, under article 8 of the Declaration referred to in paragraph 1 in addition to the necessary proposal.

41 section reports on the restructuring programme shall include a detailed statement of: 1) assets, liabilities of the debtor, and other commitments, as well as debt securities;
2 after the opening of the proceedings and it);
3, after the opening of the proceedings by the debtor) of any changes in the organization or in other circumstances;
4 after the opening of the credits) the guarantees and commitments;
5) creditors and the debtor's bankruptcy, having handed down between article 3 of the law on the closeness of the relationships referred to in;
the results of the checks on the activities of the 6) of the debtor, the debtor's crimes, accounting offences or other business-related measures relating to the criminal offence or suspicions, as well as on the measures to be taken in takaisinsaantiperusteita the findings or suspicions;
7) nature of the debtor's financial situation and the operating conditions, as well as the status of creditors can be expected without the program and the program;
8), whether the debtor is filled in the information provided for in article 13, and myötävaikutusvelvollisuutensa;
9) other aspects of the debtor, or the activities, which are of importance to the progress of the restructuring programme and the assessment of the conditions, such as the borrower's willingness to continue to work with the restructuring programme, as required by and in accordance with the programme changes, as well as take other measures referred to in the programme.

Article 42 measures and arrangements for the reorganisation of the activities of the debtor's restructuring programme should identify measures and arrangements, as well as the position of the debtor and the creditors, on the measures and arrangements as well as to their reasons for doing so. The program will provide, among other things: 1), whether or not the debtor's operations to continue and to what extent, as well as any related corporate form, the articles of Association, rules or the company or the company's organizational changes;

2. measures relating to the debtor's assets and arrangements), such as the preservation of the product of the realisation of the assets of the debtor, or liquidator may be given out or transfer, on the way in, and thus, the advice received or expected revenue;
3) the arrangements for staff;
4) restructuring the creditor arrangements entered into with regard to the more performance; (2 March 2007/247) 5) the debtor company or a shareholder, velallisyhtiön, or on the basis of the consideration or the nearby in order to run the rest of the compensation, or the reasons for them;
6) the financing of the programme;
on the follow-up to the 7).
With regard to the debt restructuring programme shall include the fee for the program, indicating the content and schedule of the payment of the debt for each debt, broken down by type, as well as with regard to the assessment of what the ordinary debt interest would become bankrupt without the application of the first subparagraph of article 32. The payment program will also occur in the data cleanup process during the kuittauksista. (2 March 2007/247)
If someone is on the basis of the guarantee or the kanssavelallisena responsible for certain of the debt program will impose the obligation to the creditor of the person's pay also. If the debt is secured by a security right of a third person, a program must include the impact of the person's debt.
If the program according to the velallisyritys, its business or assets, or a part of the operational objectives of the programme as a whole, these are disclosed for the transaction, the transfer will occur and the transferee, if this is known.

43 section (2 March 2007/247) of the application in question the status of liabilities arising after the restructuring programme shall be drawn up taking into account the fact that the application in question after the security liabilities shall be carried out and their credit costs according to section 45 in the coming performance before other debts.

44 section arrangement means, within the limits laid down in the restructuring programme may be considered, hereinafter referred to as the restructuring liabilities following the debt arrangements, to apply: 1) to change the timetable for payment of the debt;
2) provide that the debtor's payment processing is a must read first the debt-to-equity and credit costs the truncation;
3) reduce the remaining credit at the time of the payment obligation of the credit;
the amount of the outstanding debt of 4) lower.
Debt settlement can also include the debt will be paid in whole or in part: 1) in a lump sum for this purpose, the capital of the new debt; or 2) the position of the creditor's and at reasonable sijaissuorituksin.
Debt restructuring will not be used in a way that limits the right of the creditor more than is necessary for the restructuring programme in order to achieve the aim and in the role of creditors under the law of that State, in order to meet the requirements of the mutual.
Restructuring programme, it may be provided that the debtor has to pay additional contributions to the creditors, if the debtor's financial position in the period between the end of the restructuring programme and keeps getting better. The funds, which the debtor reasonably needs to continue, does not, however, be ordered to be paid more. Before any other creditors and with each other on equal shares for more performance, be entitled to the number of creditors who have claims for capital is not, however, reduced the debt arrangement, viimesijaisten creditors. (2 March 2007/247), section 45-guarantee the role of the Organization of the Security of debt debt can only be applied under section 44 in paragraphs 1 to 3 and (2) of the arrangements referred to in paragraph 1. The guarantee of the liability for accrued interest prior to the opening of the proceeding can also be reduced to the extent that it exceeds the running rate. When section 44 (1) of subsection (2) shall apply to guarantee the debt, lykkäytyville the present value of the credit costs will be ordered to be paid their peacekeeping capacity.
Debt settlement does not affect a creditor's security right in rem to the continuation or content. However, you can change the arrangement of debt owed to the security of collateral arrangements by replacing the other debt are safely taken care.
The guarantee of the liability for future payments is determined so that at least the present value of the guarantee of the debt will be paid within a reasonable period of time, which, in the absence of the consent of the creditor must not be substantially taller than the remaining credit time or, if the debt is completely outstanding, substantially longer than half of the original credit. In the event of a credit under section 44 (3) must also take into account the length of the remaining period so that the discount is relatively lower credit costs, the longer the time is.

Article 46 mutual position of the creditors the creditors, who would have the right to equal access to the cleanup process outside the performance so far, is restructuring the debt arrangements be included with each other on equal terms.
Restructuring programme may, however, be without prejudice to the provided for in paragraph 1 shall provide for the appropriate procedure, if it is deemed that the creditors, whose claims are small, have access to a full run. Notwithstanding the provisions of paragraph 1, the reorganisation programme may also provide for the payment of the loan by the debtor, ably pension fund so that the amount of the pension Foundation covering the pension liability is not such a loan due to the increase of the debt facility.
The debt arrangement is to be considered in the course of the procedure for the rest of the viimesijaisina liabilities of the balance of the debt restructuring and the security interest or other credit costs, as well as those following the bankruptcy of debts, which have finally carried out.

47 section of unclear and unknown, as well as certain other restructuring debt position if debt is the amount of, or basically the ambiguous, the Court shall order, account must be taken of the amount of the debt restructuring program. The same applies to the right of the creditor to change accordingly. In the decision referred to in may not be contested separately.
The restructuring of the debt, which is not the debtor and not under section 71, paragraph 3, in accordance with the debt itself is not a procedure, and which is not otherwise come to the attention of the administrator prior to the establishment of the programme, shall be extinguished when the reorganisation programme confirmed, unless otherwise provided for in the programme. Debt does not, however, stop, if it was not a nor is it going to be a creditor known to the liquidator and the debt has not become known before the establishment of the programme. The creditor, with a saatavastaan object, the security, the right to recover the debt is notwithstanding the above the value of the collateral. (2 March 2007/247)
The bond loan for debt arrangements are valid for all such debt for the benefit of creditors. The same applies to the other debt, for which the debtor's liabilities have been calculated in the general circulation.
The Court may also, on its own initiative, order, subsection 2, notwithstanding the restructuring programme in establishing that a series of damage compensation or any other like it, from the same base of the debt resulting from the restructuring group debt settlement are also valid for the benefit of creditors, for which the claim is not within the meaning of paragraph 2 shall become in the course of the procedure.

Article 48 in the third position, in some cases, If a natural person is otherwise than in the course of business or to the debtor's debt guarantee commitment of deemed given or made as a guarantee of the debtor's debt to the reasonable needs of the corresponding garbage pail, for him to be his claim to strengthen the restructuring procedure, the responsibility of the guarantee or surety arrangement as the law on the organisation of the individual debt (57/93). What has been said above with respect to the guarantor also applies to kanssavelallista.
If the debt is section 25 of the cases referred to in subparagraph (1) is not in the course of the procedure by the value of the security or by the third recovered, the creditor may, without prejudice to the claim by the debt or of the value of the collateral in accordance with the terms of the debt earlier.
strengthen the section 49 Chapter 8 restructuring programme of the Court shall lay down the conditions for fixing the Alternative proposal for a restructuring programme for the strengthening of the conditions, if there is a section of either 50, 51-53, section or article 54 and 55 of the fault of the other.

with the consent of all the creditors, section 50 of the strengthening of the reorganisation programme may be established, if all known creditors agree. In this case, the content of the programme may differ from the provisions of this Act relating to the saneerausvelkojien.
The program must, however, be left to be confirmed, if the content violates the debtor: 1), velallisyrityksen's, or the right of a shareholder or a third party or a legitimate interest in, or is this in terms of unreasonable; or 2) is not a sufficient explanation of the conditions, that is. (2 March 2007/247) the strengthening of the group, with the agreement of the majority of section 51 the reorganisation programme may be established in accordance with article 52, if a majority of each of the velkojaryhmästä referred to in paragraph 3. In this case, the content of the programme can derogate, to the detriment of the creditors agreement of which this law, the provisions of the status of the creditors.
Draft programme of the applicant, and subject to the program established pursuant to section 50 of the proposal, the distribution of the groups of the creditors.
Creditors must be divided into groups as follows: 1) to the secured creditor;
2. the amounts secured creditors with the company) of the mortgage;

3) other than the secured creditor so that your group make up the creditors, whose claims may be charged without a court order or decision, as the law on taxes and charges ulosottotoimin (367/1961);
4) creditors are creditors, whose claims payment according to article 6 of the law on the last run, their own groups based on the order of mutual.
(2 March 2007/247) L taxes and charges ulosottotoimin 367/1961 has been revoked on the implementation of the 706/L:lla taxes and fees in 2007. See the order of the arrangements for payment of the creditors of L/1992, section 6.

the determination of the majority of the Programme in order to strengthen the section 52 required majority is there, if the adoption of the programme is more than half of the vote in each of the velkojaryhmässä in favour of creditors and their combined claims represent more than half of the participants in the Group of creditors ' claims, the total number of votes.
The majority of the assessment of the compliance with the requirement does not take into account the creditor or velkojaryhmää, which, according to the proposal, on who should receive the full satisfaction of the strengthening of the programme, or by no later than within one month of the right to drive is not only due to the change or modification of the programme so that, prior to the opening of the proceeding made late payments is adjusted, and the terms of the debt will remain as they were before the delay. Access to the claim, the creditor will not be taken into account if a better right to the creditor to be performed according to the programme, may be deprived of his legal position in full or otherwise, is getting worse.
The program proposal is to occur, which the creditors would have no right to vote under paragraph 2.
In principle, or in the amount of the debt shall be taken by majority requirement unclear when assessing the composition of the amount than under section 47.

barriers to the Adoption of section 51 and 53 Although in accordance with the requirements of section 52, the restructuring program will not be able to confirm if the content violates the debtor: 1), velallisyrityksen's, or the right of a shareholder or a third party or a legitimate interest in, or is this in terms of unreasonable;
2) is not a sufficient explanation for the fact that the program is; (2 March 2007/247) 3) against the content of the programme has not voted in respect of the creditor not in conformity with article 44 does not fulfil the requirement of equality referred to in article 46;
the content of the programme is not against the adoption of the 4) voted for a secured creditor may satisfy the requirements laid down in article 45;
to vote against the adoption of the programme 5) other liabilities may be the probability that her future performance under the programme would be worth less than what he would get in the bankruptcy of the debtor without the application of the first subparagraph of article 32;
6) program is included in the velallisyrityksen, its business or assets or the disposal of the operational objectives of the programme as a whole and in part to vote against approval of the creditor may be the probability that the supply lead to the outcome of the programme, which is economically less favourable than what could be achieved by other means.
The program is also to be left to be confirmed, if the initiation of a proceeding should be referred to in section 7 (2) of the barrier. (2 March 2007/247) the strengthening of article 54, without the consent of a majority of all the group even though paragraph 51 and 52 majority in one or more of the velkojaryhmässä will be missed, the author of the proposal, the Administrator program can be the composition, or the requirement to strengthen, subject to the following conditions: 1) for strengthening is not an obstacle referred to in article 53;
2) at least one of the velkojaryhmä have voted in favour of the adoption of the programme in accordance with article 52 of the majority of the voters, and on behalf of all creditors representing at least 52 of the fifth section of all of the creditors ' claims known to be taken into account;
3) one of the creditors is not according to the programme, may be of interest, the amount of which exceeds the value of his claim;
4) where the creditors according to the programme, a minimum level of performance over the, which accumulate in the law that would differentiate between the case in a reasonable manner, the front is divided into, shall stay; and 5) against the äänestänyttä, consisting of velkojaryhmää other than vakuusvelkojista the non-lower-ranking creditors of claims according to the programme, not performance.

Article 55 the submission of other criteria not in addition to the above in this chapter, the restructuring programme is to be left to be confirmed, too, if: 1) the content of the programme does not meet the 41 and the requirements set out in section 42;
2 the procedure for the handling of the proposal), the program has not been complied with, and the impact of the failure can be expected to have been the result of the processing; or 3) in drawing up the proposal, or when it is otherwise being handled in breach of the law or in an inappropriate manner.
The restructuring programme, which is contrary to the law or not, must be submitted.
If the restructuring programme requires that the debtor or someone else prior to the establishment of the programme makes a decision or a measure of performance, will meet a certain condition, the program is not allowed to fix, before such a condition has been fulfilled.

56 section will compete for the program proposals if more than one proposal for a programme for the strengthening of the programme meets the conditions set out in the restructuring, priority should be given to the proposal, which may be laid down in accordance with article 50. The proposal may be laid down pursuant to article 54 only if 50 or 51 and in accordance with the conditions laid down in section 52 of the proposal does not exist. Two or more pieces of the proposal referred to in article 54 shall be established, which has received the support of the velkojaryhmissä the most.
Chapter 9 the legal effects of the implementation of the restructuring programme, under section 57, and the legal effects of the expiry of the composition When the reorganisation programme is confirmed, the restructuring of debt and other program terms are governed by the regulated legal relations in accordance with the programme. Restructuring the debts of the unknown will stop, when the program is fixed, if a program or a 2 to 4 of article 47 article is not due to the change.
Based on the debtor's property, restructuring debt garnishment on the verification of the restructuring programme has been established. The same applies to the other based on the implementation of the restructuring the debt.
Restructuring programme is to prevent a restructuring of the debt criterion, or the amount of, or the validity of the security right or the composition of the debt on the content of the examination of the claim, if the debt restructuring proceedings or right is challenged and the matter is referred to the 75 of the addressed in a separate proceeding.

58 section Varojenjakokielto If the reorganisation programme arrangements is limited to the capital, the right of creditors of the debtor's assets are not due to the performance of the restructuring programme in the period between the end of the period and not to be shared with the owners, with the exception of section 42, subsection 1, on the basis of the work referred to in paragraph 5 in accordance with the programme for consideration or compensation for the executable and the.
The allocation of resources to combat the impact of the ban on debt restructuring provided for in article 64 (2). The stock of the company to the shareholders in breach of the prohibition on return and shared resources, shall apply to the liability of the companies Act (624/2006), chapter 13, section 4 and Chapter 22. (21 July 2006/634), section Liitännäissitoumusten cancellation 59 commitment or agreement, according to which the debtor must be based on, or related to, the performance of the debt restructuring shall be null and void, unless the obligation is not based on a confirmed restructuring programme.

Article 60 of the enforceability of the payment plan Established in accordance with the payment plan that is included in the restructuring programme of the performance obligation may be, if it is neglected, the performance of the implemented as binding.

61 section for the monitoring of the implementation of the programme for monitoring restructuring programme may provide for the controller on behalf of the creditors, whose task is to monitor the implementation of the programme, taking into account the provisions of article 63 to 65, as well as to take care of the measures under the programme, the supply of which is not covered by the interested parties. Unless the Administrator program, according to the proposal, not provide for the imposition of a moderator may require the creditors ' Committee or to the creditors, which according to article 40 would have been entitled to make a proposal for a reorganisation programme.
A moderator may provide the administrator or any other person. Administrator shall apply by analogy in respect of article 8, 9, 12, 14, 83 to 87 of the selvittäjästä.
The term of Office of the creditors ' Committee may be restructuring programme to continue until the end of the programme, provide.
The debtor is the period from the end of the restructuring programme and similar information and the administrator of velkojatoimikuntaan and myötävaikutusvelvollisuus in relation to the Court, as provided for in article 13.

the report of the administrator on the implementation of the programme under section 62 or, if such is not the case, the debtor must regularly submit the scheme to the report on the implementation of the restructuring programme and the creditors. A report on the number of times can be set in the decision on the strengthening of the restructuring programme, or. If other is not specified, the statement is to be given every six months.
Restructuring at the end of the programme, the supervisor or, if such is not the case, the debtor shall forthwith notify the scheme to the end of the report on the implementation of the programme and to the creditors. The final report shall also be submitted to the relevant for Europe (CEHAPE).

Article 63 amendments


The programme set out in writing, or a calculation error or the rest of the persons treated as a clear error of judgment, what is valid for the repairing. The same is valid if the amount of the debt is the debt repayment, or to something that is why incorrectly marked the payment program. The Court may also adjust the program to other forms of error, if those who drive it seems, agree. (on 6 November 1998 of 794)
In accordance with the programme set out in the payment of the debt or of the content of the programme can be changed with the consent of the creditor, the right of the change, which violates. Consent cannot, however, be required if the creditor's claim was the result of a change in the amount of low and the creditor's status change. (2 March 2007/247)
If the amount of the debt or the creditor's rights shall be established elsewhere, as it is on the basis of paragraph 47 taken from the restructuring programme of the request of the debtor, creditors or third parties in respect of the programme be amended in so far as the right of the creditor of the debt in accordance with the agreement or an application for payment to the content of the programme. The same is valid for the payment to the creditor, if the reinstatement of article 38 for the composition to be, or if there is any other debt, that has not stopped under section 57. The payment program for changing the creditor's debt arrangements be placed on an equal footing with the other creditors in the same position. (2 March 2007/247) 4 L:lla 2 March 2007/247 is repealed.

Article 63 (a) (2 March 2007/247) for more demanding performance Requirement for performance of obligation provided for in the restructuring plan may submit to the supervisor or by a creditor.
Unless otherwise provided, the application for the restructuring programme for the performance obligation has been fulfilled, the Court must be made no later than one year after the fact, when the final report is delivered to the Court. Unless otherwise provided in the final report have been submitted to the creditor, the creditor must, however, an application shall be submitted not later than two years after the fact, when the final report is given to the Court.

Article 64: expiry of the debt arrangement, the Court may, in accordance with the order of the creditor in the restructuring programme, the creditor, if the debtor of the debt in respect of the arrangement have not fulfilled their obligations under the programme to the creditor and the creditor have not been met by the for a reasonable additional period of time.
If the varojenjakokieltoa referred to in article 58, the restructuring of the debt arrangement can be terminated in respect of creditors, which is limited to the right to payment of its claims in the capital. This requirement may submit to the administrator or to the creditor in respect of your claim. The Court may disregard the requirement to accept, if in breach of the prohibition on shared resources have been returned or has been replaced by and, taking account of the expiry of the debt would be unreasonable.
The Court may also order a restructuring programme in respect of the arrangement, if the exhaustion is the program specified other than as referred to in sub-section 1 or 2. This requirement may submit to the administrator or to the creditor in respect of your claim.
The debt arrangement may not be terminated, if there is reason to believe that the debtor has acted within the meaning of paragraph 1 to 3 in favour of the creditor.
The creditor shall, in respect of which the debt settlement is void, it is similar to the right to run as if the restructuring programme would not have been established. The liability of the debtor is not, however, be carried out during the period of validity of the interest debt arrangement, unless the Court for special reasons otherwise.

Article 65: expiry of the programme, the reorganisation programme may be by decision of the Court of Justice to impose a requirement for the creditor in respect of a supervisor or, if: 1) after the adoption of the programme, the experience points that, according to article 53 (2) prevented the strengthening of the programme, if they had at that time been known; or 2) the debtor has committed an offence in favour of a creditor or the program is not limited.
If the debtor is a private or self-employed person and a decision is taken on an individual debt restructuring during the period of the programme with the opening of the facility, under this law established a restructuring program to lapse. The Court may, however, require that the organization is not, despite the fall in the debt restructuring program, if there is a specific reason, therefore, that the bulk of the debts included in the programme, in accordance with the restructuring programme carried out. (2 March 2007/247)
If the reorganisation programme provides for the respect of, it shall cease to be valid and the performance of the restructuring of the debt, creditors would have the same right as if the program had not been confirmed. On the basis of the expiry of the programme does not affect the validity of transactions already carried out.

the impact of the bankruptcy of the restructuring programme of section 66 If the debtor is declared bankrupt before the end of the restructuring programme, the program will expire. In this case, the creditor's rights in bankruptcy depends on, as well as if the program had not been confirmed.
The Court may, notwithstanding the provisions of paragraph 1, the debtor's or creditor's bankruptcy petition that placed the order, that the reorganisation programme is not owing to the bankruptcy of the tenant if there is a specific reason, therefore, that the bulk of the restructuring of the debts have already been paid in accordance with the programme.
Following the initiation of the bankruptcy the debt position provided for in article 32. The liquidator and the status of the monitor to run the premium and compensation provided for in the bankruptcy article 87.

Article 66 (a) (2 March 2007/247) from unknown creditors if restructuring at the end of the programme, on the basis of the restructuring of the debt, which occurs in the restructuring program would have to be changed, the amount of the debtor's liabilities shall be carried out on the debt, which would have received if the debt should be included in the restructuring program.
Chapter 10 the provisions of section 67 of the procedure, the competent court on the issue of reorganisation proceedings (2 March 2007/247) in this Act, the procedure of the Åland Islands, referred to in the restructuring, Espoo, South Karelia, Helsinki, Oulu, Lapland, central Finland, Pirkanmaa, Ostrobothnia, North Karelia and Northern Savonia, Finland, Satakunta Finland district courts. The District Court to the Court of the rights provided for in the regulation of the Council of State in these matters in the districts. (December 29, 2009/1755)
The composition of the Court or Tribunal within the meaning of subparagraph (1) is handled by the Court in whose district the debtor's management mainly is used to treat. The composition of the subsidiaries in the group, the matter will be dealt with, however, the procedure in the Court, where the matter is brought on the parent company's restructuring process. If the parent company's reorganization of the procedure will be initiated later in the procedure, the issue of the composition of the subsidiary to the trial court to transfer the case to the Court, where the parent company is pending. If the debtor of the transferring Court has before it, the reorganisation proceedings was also without a bankruptcy filing, shall be transferred to the Court of Justice. The amendment set out in the restructuring programme in the re-examination or lapse, is handled by the Court before which the proceedings were pending. If an application is made to the bankruptcy court in the judicial settlement of the application, the Court shall, if it does not have jurisdiction in the case, to move the composition of an application at the request of the applicant, the competent court or Tribunal. (26.11.1993/1029), L:lla (3) was repealed on 2 March 2007/247.
4 article has been repealed L:lla 28.6.1993/609.

Article 67 (a) (2 March 2007/247) a Court of competent jurisdiction on the matter of the bankruptcy of the debtor, if the bankruptcy petition is pending, the application must initiate the opening of composition proceedings, or if a bankruptcy filing becomes initiated before the decision on the opening of composition proceedings has become final, the bankruptcy filing will be processed in the District Court, where the renovation application is pending or that has dealt with the composition proceedings to be opened. The District Court, where a bankruptcy filing is made, shall be transferred to a bankruptcy filing or restructuring of the Court on the dispute.
In the course of the procedure, an application shall be the debtor's restructuring on setting the bankruptcy will be processed in the District Court, where proceedings are pending.
If the debtor is declared bankrupt, or (2) as referred to in sub-section 1, the District Court may refer the case to the District Court, which otherwise has jurisdiction to deal with the debtor's bankruptcy, if it is appropriate. The District Court is at the same time, provide for the insolvency administrator.

68 section (30 August 2002/771), the order of business In compliance with the law in the case referred to in the application of the provisions of Chapter 8 of the code of judicial procedure, unless otherwise specified in this law.
The restructuring is to be dealt with as required by the joutuisuudella. (2 March 2007/247) the initiation of the procedure under section 69 of the application the application for restoration shall be submitted in writing to the Office of the clerk of the Court. Where an application is made to the debtor in bankruptcy is pending is, it can be given to the Court at the hearing on the bankruptcy filing.

The application shall be accompanied by the necessary statement of the debtor. The debtor must also be accompanied by a statement of the debts and the velkojistaan, adding to the security and economic situation. If the debtor has not made an application under section 6 of the measures referred to in paragraph 1, together with its creditors and the creditors have not favoured the application of the financial difficulties of the debtor, the main reasons for the need to clarify how the operation of the debtor's intention in the future to continue, as well as the cost will be covered by the resources of judicial settlement and how the debtor is able to pay off their debts not included in the restructuring liabilities. (2 March 2007/247)
The report, which shall be annexed to the application, the required documents and provides for more detail.
An application for the opening of composition proceedings is inadmissible in the case of the programme set out in the restructuring. (2 March 2007/247) section 70 of the interim measures as a result of the application the Court shall, on the basis of the amount of the debtor's application for notification of claims of creditors as well as to other creditors, such as significant by the Court considers it necessary to hear the application, as well as to set aside such an opportunity to provide a written statement by the due date at the latest. If the debtor's application under section 6 of the measures referred to in paragraph 1, together with the debtor, creditors or the creditors have been refused by the application, the reorganisation procedure can be started without consulting the other creditors. (2 March 2007/247)
The Court shall be notified to the debtor by the creditor or the creditor's application, as well as the likely to be reserved for this opportunity to provide a written statement by the due date at the latest. The Court shall also call upon the debtor to furnish to the Court by the due date the settlement of its debts and liabilities, velkojistaan, guarantees.
If the Court as a result of the application of a creditor or a creditor of the probable considers it necessary, it may, prior to the conclusion of the decision to initiate the procedure provided for in paragraph 2 of the report reserved for other creditors of the debtor's creditors in the event of total liabilities, or appearing to give a written statement by the due date at the latest.
The application, where appropriate, the declarations provided for in the regulation. (26.11.1993/1029) 71 § decision to initiate the procedure in deciding the composition of the Court of the initiation of the will: 1) provide the administrator as provided for in article 83, subject to section 90, the result of the change;
2) set the creditors ' Committee, as provided for in article 84, section 10 or 90 to the fault of the other;
3) set the date by which the creditors must, in writing, the liquidator their claims, if they depart from the debtor from the risk of that requirement otherwise ignored and to be expired as provided for in section 47;
4) to set the date by which the liquidator shall send to the section 8 of the statement of the financial status of the debtor, as referred to in sub-section 1, the information involved;
5) to set the date by which the proposal for a restructuring programme shall draw up and communicate to the liquidator, as well as to the Court; and 6) to mark the completion of its adoption or promulgation of the time.
The decision shall state the way in which the debtor's right to impose the initiation to limit property and its activities.
The liquidator shall forthwith notify the decision notified to the debtor's creditors, as well as appearing on the application or report, as well as his co‑debtors and guarantors of the security asettajille. In the case of a section 10 (4) for the debtor, the decision shall be notified to the party concerned, the employment and economic development centre. (6 November 1998/816) section 72 to start the program proposal when the proposal for a composition is submitted to the Court, it must be reserved for the author of the proposal to the other issue concerned, as well as the opportunity to provide a written statement on the draft within a time limit, or be invited to appear before the relevant part-session. Hearing is known as the creditor can be booked upon arrival at the place of the opportunity to give a written statement to the session. Letter of notification of the proposal and the invitation and the program will take care of the administrator.
The Court may extend the program proposal for the drafting of the proposal for the legitimate request limit, if it is necessary for particular local reasons.
After the expiry of the period provided the proposed programme will be ignored.

73 section (2 March 2007/247), the lack of a proposal within the time limit, if the Court has not provided the conditions set out in sections 41 and 42 that conform to the requirements of the proposal for the composition of the Court, shall be reserved for the applicant, the liquidator and the lack of a proposal the applicant an opportunity to be heard. Unless the hearing give rise to another, the Court shall take a decision on the cleanup process.

Article 74 Of the follow up of the program proposal is challenged when deciding whether the Court will be at the same time, reserve involved an opportunity to section 72 of the date referred to in subparagraph (1) to an earlier date to announce the proposal referred to in the claims submitted to the allegations in writing to the program. On behalf of the debtor, the debtor and the insolvency practitioner may submit claims.
The liquidator shall, by a date to be notified to the debtor, as well as for the interests of the objections to the right of each claim is made. The Court, the liquidator shall submit a list of further processing of the proposal prior to the program, which shows each of the opposing party and to the destination.
After the date referred to in subparagraph (1) above, the reported claims as inadmissible.

section 75 Claims processing as referred to in Paragraph 74 of the claims will be processed and the case shall be determined in the context of the program proposal, if it required evidence and other considerations, it is possible without causing any delay or any other harm essential restructuring procedure.
If it is not, to be able to deal with and resolve in the context of the composition proceedings, the Court must show it to the party, which is a fact, the burden of proof, the time limit to complete the case admissible in judicial proceedings or otherwise, something different for the procedure. The taking into account of the restructuring programme of the claim provided for in article 47.

Article 76 the program proposal and service, as well as the voting procedure When the matter of the proposal for a restructuring programme had the opportunity to rule on the concept, and the Court is made under section 47 of the decision referred to in the proposal for restructuring the debt to the taking into account of the ambiguous, the author may be an opportunity to correct, revise or supplement the proposal within the time limit.
A proposal from the Court of the final program is to decide how the creditors shall be divided into categories and groups are non-voting members. In the decision referred to in may not be contested separately.
The Court is called upon to apply by the deadline in writing to inform the creditors the Court allowing or refusing the position program proposal (vote statement). After the date of the statement of the vote is ignored. The call, as well as the processing of the final draft programme and written declarations of the parties to the Protocol or service takes care of the administrator.
The Court shall, by a date to be submitted to the vote statements communicated to the liquidator. The liquidator shall, without delay, prepare a statement of the outcome of the vote, the vote of each of the statements and the program proposal (vote statement) and must provide a statement to the Court and to take care of its notification.
The voting procedure, however, it is not necessary, if a majority of each of the 52, paragraph velkojaryhmästä is writing a proposal and none of the creditors approved the program not the statement referred to in section 72 of the grounds relied upon, on the basis of which the restructuring programme should be left unverified. (2 March 2007/247), section 77, after receiving a report on the Decision establishing the composition of the programme voting, the Court may, if it considers this necessary, reserve involved an opportunity to give, as well as the monitoring of the programme, the arrangements referred to in article 61, by a date to be written statement.
Following the decision of the Court of Justice in accordance with the programme for the monitoring of the restructuring programme and matters relating to the fixing of the liquidator shall be notified of the decision of the matter concerned.
The restructuring program is to comply with the appeal, unless the Court before which the proceedings are pending, that is, by reason of an appeal. (2 March 2007/247)
The cleanup process stops when the restructuring program has been established.

Article 78 (6 November 1998/794), the strengthening of the decision-making process of any cessation of cover, without the restructuring programme where a requirement of this suspension or declaration of bankruptcy of the debtor, a creditor requires a restructuring of the debt, the debtor shall be reserved for the Court of Justice, on the basis of the amount of their claims on the insolvency administrators and creditors, as well as to other creditors, such as significant by the Court considers it necessary to hear the application, an opportunity to provide a written statement or by a date to be invited to the point osallinenkuultavaksi in the session. Letter of notification of the debtor of the claim and the invitation, as well as and the creditors will take care of the administrator.
The liquidator shall, without delay, to give effect to the decision by the end of the composition proceedings to all involved.

Article 79 (6 November 1998/794) the lapse of the arrangement or composition


Before the debt restructuring or reorganisation programme provided for under section 64 or 65 in respect of the debtor, the Court shall set aside, on the basis of the magnitude of the controller and to the claims of creditors as well as to other creditors, such as significant by the Court considers it necessary to hear the application, an opportunity to make a written statement or be invited to appear before the relevant part-session.
The lapse shall promptly inform the creditors of the debtor and the monitor, and also, in so far as the Court deems it necessary. Restructuring programme for the benefit of a debtor must be notified to all creditors of the lapse and the controller.

section 80 of the Alerts and notifications to the ruling of the Court of Justice, which provides for the termination of reorganisation proceedings are initiated or, or which provides for temporary prohibition in article 22, or the meaning of section 30 of the debtor's control over the limit, there is an announcement and inform some of the authorities and make a note of the trade register and the number of assets, as well as the mortgages taken out in the registers, as provided for in the regulation.

81 section (2 March 2007/247) method of the information referred to in this Act may be sent by post or by means of an electronic data transfer method, if it has been necessary to provide an acknowledgement of receipt, or against a receipt, or other disputes by using the todisteellista method of service laid down in.
Electronic data transfer method, it shall be presumed that the addressee of the message delivered to the limit if it is received as an electronic legal transactions before the Government in action (13/2003) provides in article 10 and 11.
The final report can be delivered to the creditor at the address, which the creditor has announced a reorganisation proceedings, or the later restructuring programme after the adoption of the controller or the debtor.

Article 82 if the application of less coercive measures against the debtor if the debtor fails to him under section 13 or section 70 of the Constitution, the Court may order him to fulfill its obligation within the time and in the place it was fine.
Chapter 11 liquidations and creditors ' Committee setting, as well as the control of the Liquidator under section 83 provides for the initiation of an administration when deciding on the composition of a creditor or the debtor's proposal. Unless the hyväksymiskelpoista no, the Court shall order appropriate to the task, Dr pol SC, and willing person. (2 March 2007/247)
At the insistence of the creditors ' Committee to replace the liquidator or provided for under paragraph 1 may also be imposed by the creditors ' Committee the liquidator. This article is based on the requirement of the Exchange must be made within one month of the creditors ' Committee the liquidator.
If at least one half of a 51 as referred to in article velkojaryhmään of the known creditors so requires, to replace the liquidator or provided for under paragraph 1, in addition to those presented by the liquidator may be imposed. Is subject to the condition that the presentation worth at least half of each of the known creditors in the above velkojaryhmään. This article is based on the requirement for an administration to change must be taken within one month of the commencement of reorganisation proceedings.
The liquidator shall always comply with section 8 of the requirements laid down in paragraph 3. The person referred to in that provision, which is in relation to the debtor or creditor, may, however, be provided in Dr pol SC, if at least two-thirds of the known creditors of each of the velkojaryhmään supports his immediate reassignment. The creditor, which does not take the opportunity to express its position, shall not be taken into account for the calculation of the majority.

under section 83 (a) (2 March 2007/247) on this basis, the provisional liquidator of the referred to in article 22, when deciding the temporary bans or at a later date, the Court may order the provisional liquidator of the debtor or by a creditor, if need be. The provisional liquidator's duties shall be those laid down in article 8. Article 9 shall apply to the temporary insolvency administrator "shall be to: (1) provides for the right of the administrator, article 12, article 14 of the disqualification of professional secrecy, article 83, 85 of the administrator to impose control and coercion, the liberalisation of the post of the administrator under section 86, 87 of the liquidator's remuneration and compensation, as well as the cost of 94 of the insolvency practitioner.

section 84 of the creditors ' Committee and the creditors ' Committee in the adoption of the decision to initiate the procedure for deciding or may be imposed later. Subject to section 10, each of the Member States in the relevant velkojaryhmään of the creditor. The Committee may subsequently be complemented by a representative of the representation of the missing would differentiate. The creditors ' Committee shall elect from among its members a Chairman. (2 March 2007/247)
The representative of the Committee would differentiate can be replaced, if at least half of the known creditors belonging to the group.
The creditors ' Committee shall be convened by the administrator or by the Chairman, either on his own initiative or at the request of a member. The Committee makes decisions by a simple majority.

85 section Control and the application of less coercive measures If the liquidator fails to him according to the law, the duty of this Court of the task, or may order him to carry out its obligation within the time and in the place it was fine.

section 86 of the liquidator's release from his Office, the Court may, on its own initiative or at the request of the liquidator in a creditors ' Committee or by a creditor, as well as after, in its sole discretion, to other involved the opportunity to be heard tell an administrator from his Office, where he essentially defaulting or separation from other weighty reason. The Court may also, where there is a valid reason to release the liquidator's role, if it so requests.
The Court may order that the decision referred to in paragraph 1 must comply with the appeal, unless the Court before which the proceedings are pending, the amount that, by reason of an appeal.
The new administration to replace the Office released 83 shall apply correspondingly.
Chapter 12, section 87 of the liquidator's remuneration costs and the cost of replacement Shall have the right to be deprived of a reasonable fee, which shall be paid to the debtor's assets. Premium, regard shall be had to the velallisyrityksen value at the beginning of the procedure, the extent of the difficulty of the task and the required measures, the results of the work of the administrator, as well as other factors. The requirement for an administration fee may be paid by instalments, if the duration of the task, the task progresses, the amount of work and taking into account the other factors must be considered to be reasonable.
The administrator has the right to have the debtor's funds necessary for the performance of a task to him, incurred costs. The requirement of such compensation shall be carried out in advance of the liquidator, or before the end of the task, if it is to be expected, taking into account the amount of the expenditure incurred or to be considered to be well founded. (2 March 2007/247)
An administrator has to be accompanied by a fee or cost on the existence of a statement of the measures taken, as well as the breakdown, showing the basics of the premium and the cost. If there is more than one of the liquidators, their is a claim at the same time, unless there are special reasons to do otherwise.
The cost of the premium and the compensation amount is determined by the creditors ' Committee, or, if such is not the case, the Court of Justice. The Court is to resolve the issue of the remuneration or compensation, if the administrator, the debtor or the creditor wants to criticize the decision of the creditors ' Committee and the date of the claim within 14 days of the date when he was informed of the decision of the creditors ' Committee, but no later than within one month after the decision was made. The Court shall, before the proceedings to set aside the issue concerned an opportunity to be heard.
If the debtor is declared bankrupt, the payment of the premium referred to in this article, and the sheer amount of compensation as well as to those funds to settle the payment of the interest shall be paid to the creditors of the Bankruptcy Act, after the claims referred to in paragraph 3 of its best covering claims attaching to the and the before section 32 (2) of the meaning of the claims. The fee and the payment of compensation, through precautionary garnishee shall have the same privileges as the creditors payment Act referred to in article 4. (6 November 1998/794), the costs subject to section 88 Velkojatoimikunnasta restructuring programme to the Member of the creditors ' Committee to the contrary, the work of the Committee on the participation of the necessary costs incurred are required to velkojaryhmään as a representative of the creditors, in which the Member works or to which the member belongs to. (2 March 2007/247)
A member of the creditors ' Committee has the right to receive fair remuneration for the Office, if it velkojaryhmä, as a representative of the Member by the works or the domain that the member belongs to, so decides. The decision requires a simple majority, as well as the number of the claims of the creditors, on the basis of the number of. (2 March 2007/247)
The provisions of paragraphs 1 and 2 of the joint and several creditors belonging to the group is the responsibility of payment. The mutual obligation to pay is determined by the creditors in proportion to the number of their claims.

the cost of participation in the procedure of article 89


Anyone who wants to use the right to present a proposal for a composition, it is required to draw up a proposal at their own expense.
The participation of the parties concerned in the matter are responsible for their own costs of the proceedings. The case referred to in subparagraph (1) of article 75 of the claims and section 87 (4) of the complaint, however, shall apply to the processing of the case referred to, respectively, what oikeudenkäymiskuluista in a civil case.
Chapter 13 a simplified proceedings, the liquidator and the creditors ' Committee, 90 non-imposition of a section When the debtor has made an application for the opening of composition proceedings, the liquidator may be left without, if no one has done a presentation called for the liquidator or otherwise. When the application is made by the creditor, if the debtor's insolvency practitioner can be left without known prior to the initiation of the proceeding within the time of the decision, shall be reserved for the opportunity to give a written statement and no one asking for an administration order. After the beginning of the procedure, the administrator of the debtor, creditors or third parties in respect of the requirement may be imposed. (2 March 2007/247)
The Court may order the administrator, even if it would not have been required to pay it for a special reason, it is considered necessary. Even if the Administration would have been required, the Court may, without the leave of the liquidator, if there are special reasons to consider that the Administration is not in the interests of the creditors or the monitoring of the preparation of the reorganisation programme. (2 March 2007/247)
What provides, shall apply by analogy to the creditors ' Committee.
If the receiver is not fixed: 1) the obligations of the debtor, as referred to in article 13 of the affected creditors;
2) for the purposes of this law, article 20, shall consult the debtor;
3) of section 21 of the financial resources referred to in paragraph 1 shall be handed over to the debtor;
4) the consent of the creditors, the debtor has no known not to take legal action, which would require the consent of the administrator of this law;
5) the Court may order the extent to which the debtor shall be paid under section 18 of the small debts referred to in paragraph 4;
6) article 27 of the Declaration referred to in paragraph 3, shall request the debtor, that is, the consent of the creditors agreement within a reasonable time, be known to stay;
7) Notwithstanding the provisions of article 29, the debtor has a right to dispose of their property in bankruptcy;
the tasks of the notifications issued by the administrator, as well as 8) vote on the drawing up of the report will take care of the Court.

91 § failure to Alert the composition proceedings with the consent of the creditors of the debtor, the applicant's claim and the Court may decide to known that section 80 of the public address of the opening of proceedings referred to in the left. However, the Court may, for special reasons, to publish the alert if it is deemed necessary.
If the alert is not provided, the creditor of notification of the decision, for which there is no initiation of composition proceedings, without prejudice to the provisions of this law and to exercise their rights as a creditor to demand payment. However, if the creditor have to assume by the way have been informed of the opening of the procedure, shall apply to the section 47 of the Act provides.

92 section (2 March 2007/247) a quick restructuring programme referred to in paragraph 3, is not an obstacle to the strengthening of, the proposal for a composition to be 72 and 74 to 76 of the non-compliance with the provisions of the restructuring programme, to strengthen, subject to the receipt of: 1) written approval of all known creditors, whose claims are the total number of creditors ' claims, at least 80% of the total, and the amount of the claim for each creditor, which is at least 5% of the total amount of the claims of the creditors; as well as 2) debtor's written statement.
The Court is a program in the context of the proposal provide the explanation of how and when those creditors who have not accepted the proposal, has been brought to the knowledge of the proposal and the arguments against the proposal, been given an opportunity to rule on the creditors ' written statements.
The proposal for the restructuring programme cannot be confirmed, if the proposal is not to have it for the 44 to 46 of the creditor's or if it otherwise differs from the position of a creditor a creditor for this law, or if the strengthening of the programme is 50, section, article 53 or article 55: the meaning of the barrier.
Chapter 14 liability liability for unjust enrichment due to the application of section 93, which intentionally or recklessly initiates manifestly unfounded application for judicial settlement, is under an obligation to compensate the damage that the debtor or a creditor because of this.

section 94 of the administrator and the Administrator's liability to the creditors ' Committee is obliged to compensate the damage which he has caused to the debtor with an error or failure in the performance of those duties or to the creditor or guarantor or collateral to the drawer. As an employer, the administrator is responsible for the damage caused to the persons mentioned above as provided for in Chapter 3 of the law of damages.
What provides, apply by analogy to the creditors ' Committee's liability.

the liability for breach of professional secrecy, article 95, which intentionally or recklessly violating professional secrecy, provided for in article 14, shall be liable to credit to the debtor because of this injury.

section 95 (a) (2 March 2007/247) the disposition of the claim for the recovery of a claim if the debtor during the hand over of the ban so that the set-off of the debtor, the creditor the possibility must be replaced by the injury suffered by the creditor because of this.
Chapter 15 miscellaneous provisions article 96 appeals against decisions of the Court on the issue of reorganisation proceedings or reorganisation programme may be subject to appeal, if the appeal is denied, or the question is not the solution.
If completed, the language in which the application of judicial settlement, the appeal was rejected and the settlement of the debtor has been declared bankrupt before the Court of appeal, bankruptcy will lapse, if the procedure is commenced. During the bankruptcy debts shall be treated as liabilities arising from the reorganisation in the course of the procedure. If the procedure will begin with a decision of the Court of appeal and in this case, the application for the setting up of the debtor in bankruptcy is pending, the application shall lapse following the restructuring programme to be confirmed. (2 March 2007/247)
Before the reorganisation of the initiation of the Court shall be transmitted to the Court of appeal it as soon as possible. The complaint is to be dealt with as a matter of urgency. section 97 (2 March 2007/247), the role of the Organization of the body governed by public law, the claim of the creditor body governed by public law, the holder of the right, without prejudice to the law of insolvency within the meaning of this Act or to agree to a voluntary debt restructuring, which conform to the principles laid down in this law. Consent to the authority, which has the power to claim the inheritance. The same applies by analogy to julkisyhteisöä, which is governed by private law to the debtor.

capitalization of interest 98 section include loans under the terms of the debt restructuring debt owed back payments in the event of interest rate, the conditions may be owed to displace and to deal with at the start of the procedure, in the same way as the kind of debt, which is not related to the recapitalisation of the interest rate.
If the debt referred to in subparagraph (1) debt settlement does not proceed to judgment, the creditor shall be entitled to demand payment of interest capitalisation criteria taken into consideration.

section 99 of the limitation period and the recovery period the ratio of debt restructuring (15.8.2003/746) a period of Limitation and the action programme and its impact on the breakdown of the payment in the claim is valid, what debt limitation Act (763/2003) provides in article 11 and 17. (15.8.2003/746)
If the creditor has the right to the pain of losing to be recovered must be within the period prescribed by the law and the law on liability apply to the obsolescence of the debt, this time up the wear of the composition proceedings or temporary ban referred to in article 22, the beginning of the payment received by the restructuring programme is to prevent. If the implementation of this law, based on the recovery or the ban expired without the restructuring programme or programme established debt settlement does not proceed to judgment, the time limit referred to in this paragraph for the calculation does not take account of the calendar year in which the recovery or enforcement of the ban began, and the end of the calendar year after the date from which the ban on the as specified above, to be stopped or debt settlement fell through. If the reorganisation procedure stops without the strengthening of the period of validity of the prohibition, the restructuring programme shall not be taken into account for the calculation of the period of time during which the creditor is required to run 25 referred to in section from the guarantor. (15.8.2003/746)
If the creditor is a legal privilege in order to maintain, within the period laid down, priority shall be sought where annex to give effect to paragraph 1 above shall apply by analogy in respect of the right to payment.

If the implementation of the ban based on this law expired without the restructuring programme or programme established debt settlement does not proceed to judgment, the time limit referred to in paragraph 3, the calculation does not take into account the implementation of the ban and the start of the period between the expiry of the discontinuance or settlement. If ulosottoperintä is interrupted by this statutory prohibition or because of the implementation of the restructuring programme, mentioned in the time left, respectively, without taking into account the preservation of privilege.

99 (a) of section (15.8.2003/746) the running of the limitation period and the recovery period the ratio of voluntary debt restructuring If an agreement can be reached with a voluntary organisation of the debtor's debt, which conform to the principles laid down in this Act, the creditor shall be referred to in article 99 of the ages up to wear without prejudice to the right to receive payment in accordance with the terms of the promissory note. If the issue is referred to in article 99 (2) of the claim, the creditor has the right to the pain of losing to be recovered in accordance with the terms of the claim no later than the end of the period for payment of debt arrangement for the next calendar year, by the end of the initial period of the levying, subject to end it at a later date. Otherwise, the application of the limitation period shall be considered as a broken, or when the time limit for payment of the debt in accordance with the terms of the arrangement has ended.

Article 100 the documents for research purposes If in the relevant documents referred to in the law is the Act on the openness of the proceedings (945/1984) or the openness of the proceedings in the ordinary courts Act (370/2007) under the specified confidential, the Court in which the case has been pending, may without prejudice to authorise the data of such a document for the purposes of scientific research, if it is obvious that the information infringes on the interests of the protection of salassapitomääräys is given. (as at 30 March 2007/376)
For anyone who has received confidential information pursuant to this section, has the same confidentiality as the point person involved.
(L) the trial publicity 945/1984 repealed the repeal of the Act on the openness of the trial L:lla 371/2007.

100 (a) section (20 February 2004/138) the reorganisation of an undertaking from the register to be kept in the registry for reorganisation proceedings specifically provided for.
the provisions of article 101 of the entry into force of Chapter 16 entry into force this law shall enter into force on 8 February 1993.
Measures for the implementation of the law may be taken prior to the entry into force of the law.

102 section transitional provisions prior to the entry into force of this law may not be made in respect of the guarantee of the debt incurred lower restructuring programme after the fixing of the costs of the credit at the time of the debt on credit to the extent that the value of the collateral at the beginning of the procedure, it would have been enough to cover the debt-to-equity, as well as the total amount of the present value of the cost of the credit.
If the debtor has been declared bankrupt before the entry into force of this law, may be without prejudice to the first subparagraph of article 24, to begin the cleanup process, if the application is made before the debtor's assets is to a significant extent been taken to change money, and at the latest before the Declaration of bankruptcy. Bankruptcy proceedings shall be suspended, until the decision on the opening of composition proceedings. If the bankruptcy reorganisation proceedings are initiated. In this case, the start of the bankruptcy reorganisation debts are debts, before and during the bankruptcy debts shall be treated as liabilities arising from restructuring in the course of the procedure.
In the cases referred to in paragraph 2, the debtor may make an application for judicial settlement notwithstanding the bankruptcy.
THEY 182/92, LaVM 15/92 acts entry into force and application in time: 28.6.1993/609: this law shall enter into force on 1 July 1993.
THEY'RE 79/93, LaVM/11/93 26.11.1993 1029: this law shall enter into force on 1 December 1993. This law, however, the entry into force of article 100 (a) decreed at the time.
If the application is made before the entry into force of this law, deals with the matter before the competent court of the earlier law.
THEY 216/93, 31.1.1995/LaVM 19/93 1: this law shall enter into force on 15 February 1995.
THEY LaVM 250/94, 20/94, on 6 November 1998 of 794: this law shall enter into force on 1 January 1999.
This section shall not apply to claims of the 1 on the entry into force of the laws of the previous time.
Section 18 of this Act, subsection 2, paragraph 2 (a), section 32, subsection 2, and section 87 shall not apply, if the decision on the opening of composition proceedings has been made before the law came into force.
THEY'RE 68/1998, LaVM 8/1998, of 1 April 1999 105/1998/461 EV: this law shall enter into force on 1 December 1999.
THEY 146/1998, LaVM 20/1998, EV 234/1998 on 28 December 2001/1510: this law shall enter into force on 1 January 2002.
THEY are 180/20/2001, 2001, TaVM EV 203/2001 of 30 August 2002/771: this law shall enter into force on 1 January 2003.
The case, which has been initiated before the entry into force of this law, in accordance with the Court at the time of entry into force of this law, the provisions in force.
THEY'RE 32/2001, LaVM 12/2002, EV 97/2002 27.6.2003/690: this law shall enter into force on 1 March 2004.
THEY 216/2001, LaVM 34/2002 RSV 305/2002 15.8.2003/746: this law shall enter into force on 1 January 2004.
THEY'RE 187/2002, 28/2002, TaVM EV 281/2002, 20 February 2004/133: this law shall enter into force on 1 September 2004.
THEY LaVM 6/26/2003, 2003/113/2003, 20 February 2004, EV 1: this law shall enter into force on 1 September 2004.
THEY'RE no 153/2003, LaVM 8/2003, of July 21, 131/2003/634 EV: this law shall enter into force on 1 September 2006.
THEY TaVM 7/109/2005, 2006, EV 63/2006 on 2 March 2007/247: this law shall enter into force on 1 June 2007.
Measures for the implementation of the law may be taken prior to the entry into force of the law.
Except as otherwise provided in subsections 4 to 12, this law shall apply, if the application for the initiation of composition proceedings or reorganisation programme, under section 92, or the fixing of the application of the bankruptcy of a debtor's date of entry into force of the law will be set.
Under section 10 of the law, section 84 and 88, section 1 and 2, the provisions of article velkojatoimikunnasta shall apply to the application for the initiation of the procedure, even though the date of composition.
The examination of the application of the bankruptcy section 24 of the 1 and 2 applies, even if the application for the initiation of composition proceedings or the application of the bankruptcy of the debtor from the date setting.
Takaisinsaantikanteen driving applies to section 37, if the liquidator or any creditor, the Court will hear the case brought after the entry into force of the laws.
Restructuring programme article 63 amendment of the torque is applied after the entry into force of the laws of the the forthcoming issue, even though the restructuring initiated by the application has been submitted, or the reorganisation programme is established before the entry into force of the law.
If the program is adopted before the entry into force of the law, or the application for restoration shall be established with the opening of the procedure, upon the entry into force of the law, the additional service may be required at the time of entry into force of the laws in force, pursuant to article 63, unless a restructuring programme. In this case, shall also apply to the execution of the section required for 63 (a). If, however, the final report on the implementation of the programme is before the entry into force of the law of the Court of Justice, the guardian, or the creditor may 63 (a) Notwithstanding the provisions of paragraph (2) within one year of the entry into force of the law to require the additional service.
Restructuring programme for the lapse of article 65 shall apply, if the decision on the opening of an individual arrangement will be made after the entry into force of the law.
The jurisdiction of the Court of Justice in matters relating to reorganisation proceedings is determined by the law, according to article 67 of the law enters into force. At the time of entry into force of this law, under the law in force, however, the competent District Court deals with the case, which is pending the entry into force of the law.
The vote on article 76 applies, even if the application for the initiation of composition proceedings has been made prior to the entry into force of the law.
For an administration order of paragraph 83 and 83 (a), as well as the costs of the administrator under section 87 applies, even if the application for the initiation of composition proceedings is made before the entry into force of this law.
THEY LaVM 22/152/2006, 2006, 2006 30 March 2007/246/376 EV: this law shall enter into force on 1 October 2007.
THEY LaVM 24/13/2006, 2006, EV 269/2006 22 December 2009/1613: this law shall enter into force on 1 July 2010.
THEY YmVM 10/24/2009, 2009/December 29, 2009-EV 206 1755: this law shall enter into force on 1 January 2010.
The action pending at the time of entry into force of this law the case moves to the right of the mouth of the River: 1) to the District Court to the District Court of North Karelia;
2 the District Court of law), Jyväskylä, central Finland to the District Court;
on the right of the District Court of Kuopio 3) North Savo District Court;
4 the right of Päijät-Häme Lahti District Court) of the District Court;
in the District Court of law 5) Lappeenranta South Karelia to the District Court;
6) Pori District Court on the right of Satakunta to the District Court;
7 on the right of the District Court to the District Court of Lapland in Rovaniemi);
in the District Court of Tampere 8) on the right of the Pirkanmaa District Court;
in the District Court of Turku Varsinais-9) on the right of the Finnish District Court;
in the District Court of law in the North of the country, 10) Vaasa District Court.
Before the entry into force of the law can be taken in the implementation of the law.
THEY LaVM 18/227/2009, 2009, EV 19.12.2014/240/2009 12: this law shall enter into force on 1 January 2015.
THEY are 175/2014, TaVM 20/2014, EV 191/2014, the European Parliament and Council directive on the 2014/59/EC (32014L0059); OJ L 173, 12.6.2014, p. 190 24.4.2015/490:


This law shall enter into force on 1 December 2015.
THEY LaVM 20/166/2014, 2014, EV 276/2014