Key Benefits:
See the copyright notice Conditions of use .
In accordance with the decision of the Parliament:
In order to restore the viable business of a debtor in financial difficulty, or to safeguard its conditions and to establish debt arrangements, it is possible to enter into a restructuring procedure under this law. This procedure may, by means of a court-mandated restructuring programme, provide for measures concerning the activities, assets and liabilities of the debtor as provided for in this Act. (2.3.2007/247)
The provisions of this Act shall apply without prejudice to any other law provided for by the law for the payment of the creditor's rights, the recovery of debt, or measures to safeguard the payment of the debt.
The restructuring process may include a private trader, an open company, a limited partnership, a limited company, a cooperative, a cooperative, a housing limited company or an economic activity association or a foundation. For the purposes of this law, the trader shall also mean an occupation or a farmer or a fishing agent. (24.4.2010)
The object of the restructuring process cannot be:
1) the law on credit institutions (10/2014) A credit institution;
2) an insurance or pension institution;
(3) a company in liquidation, a cooperative or a foundation;
(4) the law on the resolution of credit institutions and investment firms (19/04/2014) , an institution in crisis management.
(24.4.2010)The deposit bank is subject to the restructuring procedure under the Law on the temporary suspension of the deposit bank (1509/2001) .
For the purposes of this law:
(1) The application initiating the application The date on which the application for the initiation of the restructuring proceedings is initiated;
(2) Opening of the procedure The date on which the Court of Justice has taken a decision to initiate the restructuring procedure;
(3) Insolvent, The fact that the debtor, other than temporarily, is unable to pay its debts due to their maturity;
(4) Threat of insolvency threatening The risk of the debtor becoming insolvent;
(5) In a restructuring debt Any debtor's debts incurred prior to the date of initiation of the application, including the amounts of the underlying assets and liabilities, the basis or amount of which is conditional or disputed or otherwise unclear; however, the debtor shall not: A lack of responsibility for the pension fund set up;
(6) By the right of an article The retention of title and other property-based security, the lien on movable or immovable property, the right of re-admission and the right of the right to be arrested;
(7) The margin line In so far as the value of the collateral at the start of the procedure is sufficient to cover the security of the debtor with regard to assets held by the debtor in relation to third parties, in so far as the value of the collateral at the start of the procedure was sufficient to cover: The amount of the claim owed by the creditor after deduction of the cost of the removal and of the claims to be obtained by a better privilege;
(8) Collateral creditor The creditor of the collateral debt;
(9) Last year's debt A debt that can only be accrued after other liabilities.
(2.3.2007/247)Paragraph 2 has been repealed by L 2.3.2007/247 .
If, at the start of the procedure, the property of the debtor is secured by the liability of a third party, the liability shall apply mutatis mutandis to the liability of the debtor.
The value of the current value shall be determined according to the relevant index, in such a way that the interest rate on each quarter corresponds to the change in the index of the last quarter to the annual interest rate converted into an annual interest rate.
For the purposes of applying the provisions of this Act, the debtor shall be treated as the person responsible under the law for the liabilities of the debtor. This does not, however, affect the rights and obligations of such a person in so far as they are not related to the activities covered by the procedure.
The debt arrangements included in the restructuring programme shall also be valid for the benefit of the debtor.
The application procedure for the application may be made:
(1) debtor;
(2) debts or liabilities in one or more debts, but not debts which are subject to a dispute on their grounds or materially, or for any other reason;
(3) the person to whom the debtor's insolvency, other than the shareholding, is likely to cause financial losses on the basis of the right to claim ( Likely liabilities ).
The restructuring process may be initiated if:
(1) at least two creditors representing at least one fifth of the outstanding debts of the borrower and who are not of a return to bankruptcy law (758/1991) in Article 3 , shall, together with the debtor, make an application or declare that they are in favour of the debtor's application; (2.3.2007/247)
(2) the debtor is threatened with insolvency; or
3) the debtor is insolvent, and is not otherwise provided for in Article 7 (1) (1).
In the event of a threat of default, the restructuring proceedings may be initiated upon application by the creditor or the probable creditor only if it is necessary to safeguard the applicant's significant financial interest or to prevent it being jeopardised.
A restructuring procedure cannot be initiated if:
(1) the debtor is insolvent and it is likely that insolvency will not be able to be eliminated or that its recurrence cannot be eliminated, otherwise than in the short term;
(2) it is likely that the debtor's assets are not sufficient to cover the costs of the restructuring process and no one has undertaken to bear these costs;
(3) it is likely that the debtor will not be able to repay the debts arising from the start of the procedure;
(4) there are reasonable grounds for believing that the main purpose of the application is to prevent the recovery of the creditor's recovery or any other infringement of the creditor's right;
(5) there are reasonable grounds for believing that there are no conditions for the establishment or strengthening of a restructuring programme; or
(6) the debtor's accounts are essentially incomplete or incorrect, unless it is demonstrated that the accounts can be placed in a proper and reliable manner without difficulty.
In the absence of specific counter-reasons, the restructuring process cannot be initiated if:
(1) The reason for the operation of the debtor or one of the debtor has been read in the course of the proceedings under the criminal law of the (39/1889) The debtor's offence referred to in Articles 1 to 3 or 6, or an accounting offence or a serious accounting offence, or is accused of such a criminal offence, or there is reasonable grounds for suspecting him of such a crime;
(2) the debtor, the personal liability of the debtor company or the person belonging to the head of the debtor community, in the course of the restructuring proceedings, has infringed the business prohibition or is in charge of such a criminal offence or has: Reasonable cause to suspect that he was guilty of such a crime; or
(3) the debtor, the debtor of the debtor company personally, or the person belonging to the head of the debtor community, has or there are reasonable grounds for suspecting him of the procedure on the basis of which he could be A business ban.
(2.3.2007/247)Where the procedure referred to in paragraphs 1 or 2 is established after the initiation of the procedure, the procedure referred to in Article 8 may be terminated by the liquidator or the creditor or the debtor. However, the situation referred to in paragraph 1 (1) shall not prevent further proceedings if it is likely that the company's assets or an integral part thereof may be disclosed in accordance with the order of this law as a whole. (2.3.2007/247)
The court shall determine the liquidator responsible for carrying out the purpose of the proceedings and in the interests of the creditors:
(1) draw up a report on the assets, liabilities and other commitments of the debtor and the financial position of the debtor and its expected developments;
(2) monitor and control the activities of the debtor under the procedure during the procedure;
(3) to ensure, to the extent necessary, the verification of the activity of the debtor before the commencement of the procedure;
(4) to require, where appropriate, the rectification of the legal actions of the debtor pursuant to Articles 36 and 37 and to use the power of speech in accordance with Article 31 on behalf of the debtor;
(5) provide for a proposal for a restructuring programme;
6) carry out the tasks set out in Chapter 10.
The task of the temporary liquidator shall be to monitor and control the activities of the debtor and to provide the creditors and the court with information on the activities of the debtor, which may be relevant when considering the initiation of the restructuring proceedings. (2.3.2007/247)
The liquidators may be assigned more than one, provided that they are necessary due to the scale of the tasks or the expertise required, or to ensure the proper representation of the different categories of creditors. The tasks referred to in paragraph 1 may also be distinguished from the tasks referred to in paragraph 1.
The liquidator must be a fully-known adult who is not bankrupt and whose viability is not limited. He must have the required talent, skill and experience. He shall not be liable to any debtor or any creditor in a relationship which may be liable to jeopardise his independence vis-à-vis the debtor or his equity vis-à-vis the creditors, unless otherwise provided for in Article 83 (4). Anyone who has consented to be liquidated must inform the Court of any circumstances liable to jeopardise his or her impartiality and independence or to raise justified doubts as to his fairness. And their independence as liquidator. (2.3.2007/247)
The task of the liquidator shall last until the end of the restructuring procedure and thereafter to the extent necessary for the purpose of notification and notification of the cessation of the procedure and the tasks referred to in paragraphs 1 (4) and (5). To complete completion. The duration of the temporary liquidator shall take place until the decision to initiate the procedure has been taken or the proceedings have been closed or the court ordered otherwise. (2.3.2007/247)
The court shall issue a certificate to the liquidator for his determination. (20,22,2004/133)
For the performance of his duties, the liquidator shall be entitled to access to the premises of the debtor, to the premises of the undertaking and to examine the accounts of the debtor, the company's correspondence and other business documents and files. The liquidator shall, notwithstanding the provisions of confidentiality, have the same right as the debtor to obtain information on the debtor's bank accounts, payment service, financial agreements and commitments, the assets of the debtor, taxation and Other matters concerning the financial position of the debtor or the activities of the debtor.
The liquidator shall be entitled to participate in the meetings of the institutions of the debtor company and to exercise the power of speech. The liquidator shall be invited to attend such meetings.
The liquidator shall have the right to use the experts to carry out his duties.
As a joint representative of creditors, the Court shall, at the request of the applicant, liquidator or creditor, place the creditor committee, unless it is considered unnecessary by a small number of creditors or any other reason. The committee shall have at least three members. The composition of the Brotherhood Commission shall be set in such a way that the various categories of creditors, such as secured creditors and creditors, where there is a similar criterion, shall be equally represented. The composition of the Brotherhood Commission may also be determined in such a way that the creditors are represented in the activities of the debtor, if this is conducive to the effective functioning of the creditor commission. (2.3.2007/247)
The role of the Brotherhood Commission, as the advisory body, is to assist the liquidator in the management of his/her duties, as well as to the creditors on behalf of the liquidators.
For the purpose of carrying out their duties, the Commission and its members shall have the right to obtain information from the liquidator on the matters referred to in Article 9 (1).
If the number of staff employed by the debtor on the basis of employment is at regular intervals of at least 50, the employment and business centre of the debtor's seat shall be entitled to appoint one person representing the administration of the labour force, who shall: Shall participate in the work of the Commission without voting rights. (10.11.1998/794)
The liquidator shall provide, without delay, the report referred to in Article 8 (1) (1) or a summary thereof to the creditor commission, the largest creditors and, upon request, the other creditors and the debtor and the bankruptcy agent. The liquidator shall, on a regular basis and whenever the need arises, inform the creditor commission of his/her activities and findings relating to the monitoring, control and inspection mission or, if not, to the creditors and negotiate with them. Significant decisions prior to their conclusion. If the liquidator becomes aware that the debtor has substantially defaulted on the debt owed by the debtor, the liquidator shall also inform the liquidator.
At the request of the debtor or the creditor, the liquidator shall explain the criteria for his remuneration and present its assessment of the total cost of the restructuring process. If the underlying factors are subsequently materially altered, the liquidator shall present a new assessment to the debtor and the creditors.
A liquidator or a member of a creditor commission shall not participate in the proceedings of the agreement between him and the debtor. Furthermore, he may not take part in the proceedings of a contract between a debtor and a third person if he is expected to have an essential interest in it, which may conflict with the interests of the debtor or the creditor.
The debtor shall be obliged to provide the court, the liquidator and the creditor commission with the information requested by them on matters which may be relevant to the restructuring and restructuring programme.
The debtor shall be responsible for ensuring that the liquidator and the creditor committee are able to carry out their tasks properly and that the restructuring process can be properly completed.
Where the debtor is an entity, the obligations referred to in this Article shall be met by the member of the Board of Directors, the Executive Director and the Community. The person employed by the debtor shall fulfil those obligations in so far as they relate to his or her duties.
A liquidator, a member of the creditor commission or a creditor, a person employed by these persons, or an adviser or expert used by them shall not be allowed to express or exploit the financial position of the debtor, business relations, or Information on the business secrecy which he has been informed of in the course of the procedure.
The start of the restructuring process shall not affect the commitments already made by the debtor, unless otherwise specified below.
The start of the procedure interrupts the accumulation of interest on the restructuring debt. The same applies to other types of penalties for late payment, depending on the duration of the delay.
The debts arising from the date of initiation of the application are laid down in Article 32 and the repayment of the charge reproduced in Article 38. (2.3.2007/247)
The legal action taken during the period between the initiation of the application procedure and the commencement of the procedure may be recalted as provided for in Chapter 6.
In the case of a debt arrangement, a change to the repayment schedule of the debt may be disregarded during the period referred to in paragraph 1.
The underwriting of the procedure shall not be liable to be paid or secured by the debtor.
Contrary to the prohibition laid down in paragraph 1, the fee must be reimbursed. However, the obligation to repay the payment of a fee or check shall be subject to the provisions of the law on readmission (758/91) in Articles 11 and 21 Provides. If, due to a payment, the creditor has returned a third-set security or if there was a guarantee, repayment of the payment shall be subject to the provisions of Articles 19 and 21 of that law, however, so that Article 19 provides that the debtor Insolvency, concerns the commencement of the restructuring process.
Contrary to the prohibition laid down in paragraph 1, the enforcement of the prohibition laid down in paragraph 1 shall be ineffective, subject to other provisions relating to current promissory notes or other securities or other securities. Once the procedure has been reduced, the application for a mortgage on the assets of the debtor does not confer any advantage on the restructuring of the debt.
Notwithstanding the prohibition laid down in Article 17, the guarantee creditor shall have the right to pay a payment under the terms of the debt, the interest payable after the application initiating the application and the other credit costs. The debt cannot be put into effect by early payment of credit costs. (2.3.2007/247)
Notwithstanding the prohibition laid down in Article 17:
(1) have to pay the remuneration of the workers for the three months preceding the date of commencement of the application, except where the liquidator declares that he considers the criterion of such liability or the amount of the claim; (2.3.2007/247)
(2) have to be paid before the commencement of the application for the employment of workers' holiday pay and compensation; (2.3.2007/247)
(2a) the payment of an employee's claim on the basis of an employer's service office, corresponding to the amount of the salary or pension resulting from the employment relationship during the three months prior to the commencement of the application; (2.3.2007/247)
(3) to pay the debtor's child the maintenance payment to the extent that the child support had been granted the privilege at the time when the application was initiated; (2.3.2007/247)
(4) a decision of the liquidator may be made by a decision of the liquidator to creditors whose claims are negligible if it is appropriate for the purposes of the proceeding, and to use the debtor to sign the restructuring debt if the creditor has a credit claim; The corresponding right; (2.3.2007/247)
(5) may, unless the liquidator decides otherwise, to continue to direct payments from the account balance of the credit line and the debtor to such an account and to read the credit claim related to the bank account Abbreviation;
(6) have to pay the abbreviations and interest rates of the loan established by the debtor in so far as it is necessary to safeguard the Foundation's liquidity.
The debtor shall not be subject to the imposition of measures on the recovery of, or the performance of, the credit default debt. The measures already started shall not be continued. In the case of such debt, the debtor should not be subject to penalties for late payment. This prohibition shall include, inter alia, the following measures:
(1) use of cash transfer or re-admission rights based on rem law and other security benefits in order to obtain payment;
(2) the denunciation of the debt and the termination or termination of the contract on which the liability is based on account of late payment, with the exception of the termination or cancellation of a new debt or of any other termination or termination of the contract;
(3) the credit institution's claim against the assets of the debtor at the start of the recovery or after the credit institution's account, or which at that time shall be transferred to a debtor's account transferred to the credit institution, if the account can be According to the accounting conditions, the use of payment traffic; (2.3.2007/247)
(4) the adoption of an administrative decision detrimental to the debtor, on the basis of non-payment of a restructuring debt. (2.3.2007/247)
The anti-ban action is ineffective. However, where the property of the insured person has been transferred contrary to the prohibition, the transferee may obtain the protection of good faith in accordance with the provisions laid down separately. The prohibition shall not prevent the creditor from initiating or proceeding with a trial or any other procedure designed to preserve the right or to obtain an enforcement order.
In the course of the restructuring proceedings, the creditor is entitled to use the debtor's claim against the debtor on the basis of the same criteria as in the event of bankruptcy. The notification must also be made to the liquidator. Where the debt of a creditor other than the guarantee creditor is due to be due at a predetermined date after the start of the recovery order, the creditor shall, in respect of the amount of the debtor, be entitled to refrain from payment of the payment to the debtor debtor In the event of a continuation of the debt ratio, until the settlement is executed or the prohibition of recovery ceases. (2.3.2007/247)
A movable object belonging to debtors' assets which, under the right of deposit or detention, is under the control of the creditor, must be returned to the debtor, at the request of the liquidator, if it is necessary for the continuation of the operation. The creditor shall retain the privilege of payment of the value of the property and the right to have the management of assets refunded in the cases referred to in Article 20 (2), or if the restructuring process ceases without the adoption of the restructuring programme or programme The debt arrangement is off. The property shall not be disclosed without the agreement of the creditor.
The court or tribunal may, at the request of a guarantor creditor, grant the creditor an authorisation to exercise the rights referred to in Article 19 (1) (1) if:
(1) it is clear that the maintenance of the assets covered by the guarantee is not necessary for the debtor or the debtor or his/her family members in order to ensure reasonable housing conditions or the livelihoods of the debtor; or
(2) the requirement is based on Article 18 (1) or Article 33 (1), or failure to fulfil an obligation under Article 33 (2), which is not insignificant.
The underwriting of the debtor's assets shall not be foreclosed on the debtor's liability. Anti-ban forecluse is ineffective. Exit application shall be suspended. If the forecasting has already been delivered, the execution shall be suspended and the bailiff shall be required to hand over the assets he took and any accumulated financial resources to the liquidator. If the sale of the foreclosed property has been issued prior to the commencement of the proceeding, the court may order the suspension of the execution and the cancellation of the sale, unless it is apparent that the maintenance of the assets in question does not: Be necessary within the meaning of Article 20 (1). The applicant for enforcement shall be entitled to compensation from the debtor as a result of the cancellation of sales due to the cancellation of the sale.
The beginning of the procedure shall not be allowed to implement the decision to evict the debtor from the apartment in its administration, which is primarily used in the course of the proceedings if the eviction is based on the lodging of the claim before the application is made. The non-payment of rent or other consideration due to the initiation of the activity. The same applies to the Housing Company Act (1599/2009) , the establishment of an apartment used for that purpose under the management of the company. However, the court or tribunal may, at the request of the creditor, allow enforcement if it is unreasonable, taking into account the measures already taken by the creditor in respect of the apartment. (22/092009/1613)
As a result of the procedure, the creditor of a debt restructuring debt may not be granted official assistance under the law on the payment of shares (91/66) In the case of re-admission or settlement of the goods. The weekly retake or the statement shall be suspended.
Where, prior to the commencement of the procedure, an enforcement authority has lodged a security with a view to the suspension of the forecluse or any other enforcement, the security shall be returned to the liquidator or, if the collateral is by the collateral, to this.
Upon the application of the application, the court or tribunal may, at the request of the applicant or the debtor, order the prohibition referred to in Articles 17, 19 or 21 to be temporary in force even before the start of the procedure, provided that it is considered necessary. The order may be issued without consulting the creditors and the debtor if the urgency of the matter is deemed to be required.
A decision imposing a temporary prohibition as referred to in paragraph 1 shall not be subject to a separate appeal.
Article 83 (a) provides for the imposition of a temporary liquidator. (2.3.2007/247)
The debtor shall not be subject to a decision of the authority based on a decision of the Authority under Article 30 on the basis of the liquidation debt. Prior to the commencement of the procedure, the precautionary measure shall cease at the start of the procedure, unless otherwise specified by the Court under Article 30.
If, at the time when the application procedure is made, an application for the insolvency of the debtor is also pending, the application for bankruptcy must not be settled before the decision to initiate the restructuring procedure has been taken. Similarly, if the application procedure is initiated, but before a decision is taken, an application is made for the liquidation of the debtor. If the restructuring proceedings are initiated, the application for bankruptcy shall lapse following the adoption of the restructuring programme. If the application procedure is rejected or the restructuring procedure is ordered to expire other than that of the adoption of the programme, the application for bankruptcy shall be continued. In the event of an appeal, there are provisions in Article 96 (2). (2.3.2007/247)
If the debtor has applied for or declares that he is seeking an appeal against the decision to reject the application procedure, the court or tribunal dealing with an application for bankruptcy of a debtor referred to in paragraph 1 or later initiated May, at the request of the debtor, suspend the decision to declare bankruptcy until the appeal has been settled before the appeal court or the remainder of the proceedings ceases. The condition is that there is a particularly serious reason for the postponement, taking into account, in particular, the grounds on which the debtor has appealed, or to whom he declares his appeal. The decision on the postponement shall not be subject to appeal. If the debtor is declared bankrupt, the court may, at the request of the debtor, order that the estate of bankruptcy must not be allowed to sell more than is necessary in order to avoid losses or from the management and management of the estate In order to pay the costs before the decision on the restructuring procedure is final or otherwise specified. (2.3.2007/247)
The application for a restructuring procedure, which has been filed with the debtor in the event of bankruptcy, is inadmissible.
The debtor may, upon application by the creditor, declare bankruptcy only if the debtor at the start of the procedure was insolvent and the circumstances are as indicated in Article 7 (1) (1), or if the bankruptcy application is based on: The non-payment of the debt incurred after the commencement of the application. In the latter case, the court or tribunal shall consult the liquidator, and the declaration of bankruptcy may be suspended by a maximum of one month if there is a particular reason for the extension of the restructuring procedure. The decision on the postponement shall not be subject to appeal. If the debtor is declared bankrupt, the restructuring process will cease. (2.3.2007/247)
The commencing of a restructuring process shall not prevent the recovery of the debt from the guarantor or the value of the security lodged by a third party, or in the case of a guarantor or otherwise of a guarantor for the guarantor or the collateral provider, if: A guarantee commitment has been made or secured in a business or comparable operation. What has been said about the guarantor also applies to the fellow debtor. The requirement for the guarantor to be carried out by the guarantor does not require any action against the debtor. (10.11.1998/794)
The provisions of Articles 19 to 22 concern the recovery of the debt from the guarantor, the debtor or the value of the security, if the guarantor, obligor or guarantor is a person other than the person referred to in paragraph 1. For the purposes of Article 20, the security provider shall be consulted instead of the liquidator. (2.3.2007/247)
Under Article 42 (3) and Article 48, the position of the guarantor of the guarantor and of the guarantor's position in the debt arrangement is governed by Article 42 (3) and Article 48.
A commitment or agreement concerning the deposit may be terminated by decision of the liquidator, by decision of the liquidator, in order to repay the debt. The remainder of the creditor's claim shall be deducted from the credit costs not used at the time of credit. However, the costs incurred in setting up the credit relationship, which are expressly mentioned in the contract and which are not disproportionate, shall not be deductible. The residual liability on the basis of the contractual agreement within the meaning of the Act on the sale of shares shall be determined in accordance with the provisions of the said law.
Without prejudice to Article 17, the amount of the margin owed by the liquidator may be prematurely provided that it is appropriate for the debtor's financial arrangements.
The lease or rental credit agreement, in which the debtor is the lessee, may be terminated by the debtor on the debtor's side in accordance with Articles 29 and 30, in accordance with the provisions of Articles 29 and 30, two months after the termination of the contract or the termination of the contract Without prejudice to the conditions. The compensation due to the early termination of the contract includes the necessary costs for the restitution of the property and a reasonable remuneration for the other damage caused to him by the lessor. In addition, in the case of a lease agreement, the provisions of Article 26 concerning the reading of the credit cost of the remaining credit period for the benefit of the debtor shall be complied with. (10.11.1998/794)
Notwithstanding Article 17, the person who is bound by an agreement before the beginning of the procedure to a debtor, but whose performance at the beginning of the procedure is not fulfilled, shall not be entitled to receive a payment if the performance can be maintained Normal for the activities of the debtor.
If, prior to the commencement of the procedure, someone has committed to a debtor other than the obligation under paragraph 2, and if the debtor has not fulfilled its contractual payment obligation at the beginning of the procedure, The liquidator shall, at the request of the counterparty, indicate whether the debtor remains in agreement. If the answer is negative or is not given within a reasonable time, the counterparty may terminate the contract.
The compensation which, in the cases referred to in paragraphs 1 or 3, must be made due to termination or termination of the contract, shall be liable to the debtor's debt restructuring and shall be taken into account, notwithstanding the notification of the claims.
The right to terminate a worker in the context of the restructuring procedure is laid down in the contract law (32070) .
Contract L 320/1970 Has been repealed by L 555/2001 , see Contract L Chapter 7, Section 7, Section 7 .
If an appeal is brought against the decision to initiate the restructuring procedure, the legal effects of the opening of the procedure, including the rights of the liquidator and the limitations of the debtor's control, remain in force. The legal effects will cease if the decision to initiate the procedure is legally abrogated or the court in which the case is pending is so determined.
The legal effects of the start of the procedure will continue until the restructuring programme is confirmed. In the absence of a restructuring programme, the legal effects of the opening of the procedure shall cease when the decision of the court to declare the debtor bankrupt or the termination of the procedure has been rendered, unless the court or tribunal For a specific reason, the legal effects shall be valid until such time as the decision is final or otherwise provided. If the debtor is liquidated, the legal effects of the opening of the procedure shall cease at the start of the liquidation. (2.3.2007/247)
If the restructuring process ceases without a restructuring programme for a reason other than the bankruptcy of the debtor, the execution or suspension of enforcement or administrative assistance under Article 21 may be continued after the legal effects of the restructuring proceedings On the basis of an earlier application or assistance application.
When deciding to cease the procedure, the court may, at the same time, order the safeguard measure referred to in Article 23. If, at the beginning of the procedure, the debtor or his/her property was subject to a safeguard measure, the court shall order it to come into force again, unless the creditor's statement or the liquidation of the debtor is declared bankrupt Otherwise, the measure has not lost its meaning.
Even after the start of the procedure, the debtor retains the power to impose its assets and activities, provided that the law does not provide otherwise. Where, before the commencement of the proceeding, the property of the debtor has been foreclosed, the assets may be ordered as provided for in this Act. Article 30 of Chapter 4 of the expatriation law Notwithstanding the provisions.
However, without the consent of the liquidator, the debtor shall not:
(1) to make a new debt, except in the case of debt relating to the normal operation of the debtor, which is not unusual in volume or terms;
(2) to release the undertaking or its part, including any right of use or financial property, or any rights which are necessary for immaterial or other activities;
(3) grant the right to use or other rights in the property referred to in paragraph 2, except where there is an act relating to the normal operation of the debtor;
(4) release foreign exchange assets other than normal under normal conditions;
(5) contracts which are necessary for the purpose of terminating or continuing to operate;
(6) to issue a guarantee or to provide another contingent liability for another debt, except where the question is not an act relating to the normal operation of the debtor, which is not of any importance or risk;
(7) take any other action which, having regard to the scale and quality of the debtor's activity, is unusual or of general scope; nor
8) to declare bankruptcy.
Contrary to the provisions of paragraph 2 (1) to (7), the legal act is ineffective, unless the other party knew and should not have known that the debtor did not have the right to do so.
Exit L 37/1895 Has been repealed by L 17/11/2007 , see Output arch 705/2007 Chapter 4 Article 37 . See. A restructuring of the company 55/1993 § 6 .
At the request of the liquidator or the creditor, the debtor may also be restricted, otherwise than in the manner laid down in Article 29, where there is a risk that the debtor shall act in a manner detrimental to or endangering the interests of the creditor. The debtor may, inter alia, be prohibited:
1) the establishment of a specific legal act;
2) carrying out certain legal proceedings without the consent of the liquidator;
(3) take a measure which can be expected to value the value of the assets belonging to or under the control of the debtor.
The prohibition or restriction may be imposed on a provisional basis and without consultation if the urgency so requires.
A periodic penalty payment may be imposed.
Contrary to the restrictions imposed under this section, the legal act is ineffective, unless the other party did not know and should not have known that the debtor did not have the right to do so.
The debtor shall continue to exercise the power of speech in a pending trial or under any other comparable procedure in which he or she is a party, unless the liquidator decides to use the debtor's speaking power. The same applies to the initiation of proceedings or any other procedure.
The liquidator shall be entitled, on behalf of the debtor, to make a claim or to initiate legal proceedings or any other equivalent procedure and to make a statement on behalf of the debtor.
The notification may also be received by the liquidator on behalf of the debtor.
The debts arising from the initiation of the application shall be paid as they fall due. The same shall apply to the continued contractual relationship, or any other current account, based on a continuous contractual relationship or management relationship, on the time after the initiation of the application.
If the debtor is declared bankrupt on an application made before the end of the restructuring programme, or, if the restructuring process has ceased without the adoption of the restructuring programme, an application which has been pending before the end of the restructuring programme During a period of three months from the end of the procedure, the claims arising from the beginning of the procedure and the interest accruing to them in the event of liquidation shall be settled in the event of insolvency of the creditors of the Law (1578/1992) Of the European Parliament and of the Council. However, the remuneration of the liquidator and the administrator and the remuneration of the administrator and the interest accruing to them shall be paid first.
The creditor shall be entitled to compensation for any reduction in the value of collateral assets to the detriment of the creditor arising from the use of the assets in the debtor's activity during the period of validity of the prohibition referred to in Articles 19 or 22. The compensation paid is to be counted as an abbreviation of the guarantee liability.
The debtor shall keep the assets covered by the recovery debt as collateral, duly insured against the damage.
The Court may, upon application by the liquidator, order that the credit identified in the decision, as specified in the decision, has the same or better privilege to be granted to the assets of the debtor, other than that of the debtor, of which the same property is: As collateral. It is required that such an arrangement is necessary, in order to obtain the necessary funding during the procedure, and not significantly increase the risk of creditors whose seniors would be weakened. The arrangement does not affect the position of those creditors as collateral creditors.
Before a settlement of the case referred to in paragraph 1 is settled, the court shall reserve the opportunity to be heard by the debtor and the creditors who would be affected by a change in the rule of law.
In the case of a guarantee on the basis of a mortgage or any other recording measure, the change in the rule of law ordered by the court shall, upon application by the liquidator or the new creditor, be entered in the register of the mortgage or registration in question and shall: Shall take effect from the date on which such an application is made. In the event of any other kind of security, the change in the rule of law shall enter into force when the decision of the Court of Justice has been notified to the guarantee creditors whose privileges are deteriorating. The notification may be carried out by an liquidator or a new creditor within the meaning of Article 81.
A legal action which could be withdrawn if a bankruptcy procedure had been applied for in the event of bankruptcy proceedings may be recalted on the same grounds as in the law on bankruptcy, and in accordance with the provisions of the The so-called law provides for a third status.
In the cases referred to in Article 1 (1), the date on which the application was made or, in the event of an application for the liquidation of the debtor, the day on which the application for bankruptcy was made was considered to be the date referred to in paragraph 1. In the case of multiple applications for restructuring or bankruptcy, the date on which the first application was made shall be taken.
Reasons may be required by a liquidator or a creditor as provided for in Articles 36 and 37.
The liquidator shall initiate a recovery action within six months of the commencement of the procedure. However, the action may be initiated within a further period of three months from the date on which the liquidator detected or should have observed the recovery argument.
The provisions of Articles 15 to 19 of the bankruptcy law are applied in such a way as to ensure that, in the event of a bankruptcy, the provisions of Articles 15 to 19 of the bankruptcy law are applicable to the insolvency of the debtor.
A creditor who wishes to require recovery shall inform the liquidator. If the liquidator fails to do so, the creditor may be driven.
Where one or more liabilities are required to be recovered, the following shall apply: Chapter 3 of the outlaw Articles 84, 89 and 90 provide. Notwithstanding the provisions of this law, the provisions of the creditor's application shall be exercised without prejudice to the provisions of this Act. (27.6.2003/690)
The creditor shall initiate the proceedings referred to in paragraph 2 within six months of the commencement of the restructuring proceedings. The court shall provide the liquidator with an opportunity to be heard. The liquidator may take action by stating it in his statement to the court. In that case, the action is considered to be based on the liquidator's claim and the creditor is entitled to receive compensation from the debtor's assets for the costs incurred in bringing an action. The disagreement resulting from the compensation shall be settled by the court. (2.3.2007/247)
Exit L 37/1895 Has been repealed by the Exchequer 17/11/2007 , see Olosoarch 705/2007 Chapter 3 Articles 84, 89 and 90.
Without prejudice to the disclosure of claims, the beneficiary shall be taken into account as a creditor in respect of the repayment of the payment due to the repayment of the creditor.
The restructuring programme shall include a statement in accordance with Article 41 concerning the financial position of the debtor and other matters affecting the restructuring of the debtor and the provisions referred to in Article 42 concerning the continued operation of the debtor and the creditors, Modification or termination of measures and arrangements. In accordance with Article 51, the programme shall include the division of creditors into groups and the absence of voting rights within the meaning of Article 52.
The liquidator shall draw up a proposal for a restructuring programme and submit it to the court within a time limit set by this Regulation, which shall not exceed four months without any particular reason.
When preparing the proposal, the liquidator shall negotiate with the debtor and the creditor commission and, where appropriate, the creditors and the likely creditor of the procedure.
During the period referred to in paragraph 1, the proposal for a restructuring programme shall also be entitled:
(1) debtor;
(2) the person who is personally responsible for the debtor's debts;
3) those who own at least one fifth of the shares or shares of the debtor company;
(4) guarantee creditors representing at least one fifth of the aggregate claims of all collateral creditors;
(5) creditors representing at least one fifth of the combined claims of non-guarantee creditors.
The persons entitled to submit the proposal shall have the right to obtain the information from the liquidator, which, in addition to the report referred to in Article 8 (1) (1), is necessary for the drafting of the proposal.
The restructuring programme shall include a specification of:
(1) the debtor's assets, liabilities and other commitments, as well as debt securities;
(2) after the start of the procedure and its outcome;
(3) changes in the organisation or other operating conditions of the debtor following the start of the procedure;
(4) credit, guarantees and commitments entered into after the commencing of the procedure;
(5) proximity relationships between creditors and debtors, as referred to in Article 3 of the bankruptcy law;
(6) on the results of checks on the debtor's activities, on measures or concerns relating to criminal offences, accounting offences or other offences relating to business activities, and on grounds of recovery; The measures, observations or doubts;
(7) the manner in which the debtor's economic situation and conditions and the position of creditors can be expected without programme and programme;
(8) whether the debtor has fulfilled its obligations under the information and communication obligations laid down in Article 13;
(9) on other matters relating to the debtor or the debtor, which are relevant to the assessment of the restructuring programme and the conditions for its implementation, such as the ability of the debtor to continue the activity required under the restructuring programme; And other measures referred to in the programme.
The restructuring programme shall identify measures and arrangements for the reorganisation of the debtor's activities, as well as the measures and arrangements for the status of the debtor and the creditors and their justification. The programme shall specify, inter alia:
(1) whether the activities of the debtor are intended to continue and to what extent, as well as any changes in the corporate form, articles of association, statutes or company contract or organisation of the undertaking;
(2) the measures and arrangements relating to the assets of the debtor, such as the maintenance of assets by the debtor, the conversion or transfer of funds, the transfer or transfer of funds, and the resulting or expected revenues;
(3) staff arrangements;
(4) the arrangements for restructuring debts and the additional performance obligation; (2.3.2007/247)
(5) the remuneration of the debtor, the company of the debtor company or the shareholder, or any other remuneration, or of any other remuneration, to be carried out on the basis of such contributions;
(6) financing of the programme;
7) monitoring of the programme.
In the case of liabilities, the restructuring programme shall include a payment schedule showing the contents of the debt facility and the payment schedule for each liability, broken down by reference to each liability, and in respect of ordinary liabilities, an estimate of the amount of the split in the event of bankruptcy Without prejudice to Article 32 (2). The payment scheme shall also include information on the receipts carried out during the restructuring process. (2.3.2007/247)
If, on the basis of a guarantee undertaking or with a certain liability, someone is responsible for a particular debt, the programme shall also impose a payment obligation on the creditor. If the liability of a liability is the right of rem to the property of a third person, the effect of the debt facility shall be reflected in the liability of that person.
Where, according to the programme, a debtor undertaking, its business or assets, or some of these are supplied as a functional entity, the programme shall include the transfer status, the conditions of delivery and the transferee, if known.
The restructuring programme shall be drawn up in the light of the fact that the debts incurred after the date of the initiation of the application have to be paid to the guarantee liabilities and the credit costs thereof, in accordance with Article 45, before any other creditor.
The restructuring programme may, subject to the following restrictions, apply the following debt arrangements:
(1) amend the repayment schedule of the debt;
(2) order that the debtor's contributions must first be counted as a repayment of the principal of the debt and only thereafter to the credit costs;
(3) reduce the obligation to pay the credit costs incurred in the outstanding credit period;
4) lowers the amount of outstanding debt.
Debt arrangements may also include the full or partial payment of the debt:
(1) a lump sum for this purpose by a new debt; or
(2) reasonable substitutes for the creditor's activity and position.
A debt arrangement shall not be used to limit the creditor's right to a greater extent than is necessary to fulfil the purpose of the restructuring programme and to meet the requirements of this law for the mutual status of creditors.
The restructuring programme may provide that the debtor must pay additional contributions to the creditors if the financial position of the debtor in the period between the fixing and the end of the restructuring programme is improved. However, the funds which the debtor reasonably needs to continue the operation cannot be imposed as additional payments. However, before the other creditors and the equal shares, the creditors whose debts are subordinated to the debt arrangement are eligible, but not the creditors of the last-minute creditors. (2.3.2007/247)
Only the arrangements referred to in Article 44 (1) (1) to (3) and (2) (1) may apply. The interest on the default debt before the start of the procedure may also be reduced to the extent that it exceeds the running rate. When Article 44 (1) (2) applies to the guarantee debt, the deferred credit costs shall be subject to the security interest on their current value.
The debt arrangement does not affect the stability or the content of the creditor's right to rem. However, in the debt arrangement, the collateral arrangements may be adjusted by replacing collateral with a second liability security.
The performance of the guarantee liability shall be laid down in such a way that at least the present value of the margin debt becomes paid within a reasonable period which, without the consent of the creditor, must not be substantially longer than the remaining credit period or, if the debt is entirely A kind of, essentially longer than half of the original credit period. In addition, in the case of a reduction of the credit costs under Article 44 (1) (3), the length of the remaining period of payment shall be taken into account so that the reduction in the credit cost is proportionally less the longer the amount mentioned.
The creditors who, outside the restructuring process, would have equal access to the claim, must be placed on an equal footing with each other in the debt arrangements included in the restructuring programme.
However, notwithstanding the provisions laid down in paragraph 1, the restructuring programme may, if it is deemed appropriate to the procedure, be deemed appropriate for creditors with limited claims to receive full payment. The restructuring programme may also, notwithstanding paragraph 1, provide for the payment of a loan from the pension fund set up by the debtor so that the amount of the pension liability which is not covered by the pension fund does not increase as a result of the debt arrangement for such loans.
In the case of a debt arrangement, in the course of the proceedings, the creditor shall, during the course of the proceedings, keep the interest or other credit costs accrued to the debtor or other credit costs and, after that, debts which are the last to be effected in the event of bankruptcy.
Where the amount of the restructuring debt is not sufficiently clear, the court shall determine the amount of the debt to be taken into account in the restructuring programme. Similarly, the same applies to any other ambiguity regarding the right of the creditor. The decision referred to in this Decision shall not be contested separately.
A debt which, in accordance with Article 71 (1) (3), has not been notified by the creditor in the course of the proceedings and which, by the way, has not been brought to the attention of the liquidator prior to the adoption of the restructuring programme, ceases when the restructuring programme is confirmed, Unless otherwise specified in the programme. However, the debt will not cease if it was not, and should not, be known to the creditor and the debt has not been disclosed to the liquidator prior to its adoption. Without prejudice to the right to collect the security of the collateral, a creditor with an object guarantee shall be entitled to claim the value of the security. (2.3.2007/247)
The debt arrangements for debt securities are in place for the benefit of creditors of all such debt. The same shall apply to the other debt in respect of which the debtor's commitments are laid down in the general movement.
Notwithstanding paragraph 2, the Court may also, acting on its own initiative, lay down, when establishing a restructuring programme, that the debt arrangements for the compensation or other group of restructurings resulting from the same reason are: In favour of creditors whose claim has not been brought to the attention during the procedure within the meaning of paragraph 2.
Where a natural person, other than in the course of a business or in a comparable activity, provided a debtor's debt with a guarantee or made a debtor's debt as collateral for his/her reasonable needs, he may be entitled to: The requirement to establish, in the context of the restructuring procedure, the arrangement of guarantee or guarantee liability in accordance with the law on the debt regime of a private person (57/93) Provides. What has been said about the guarantor also applies to the fellow debtor.
If, in the cases referred to in Article 25 (1), in the cases referred to in Article 25 (1), the debt is not recovered from the guarantor or the value of the third security lodged, the creditor may, notwithstanding the debt arrangement, recover the claim from the guarantor or the value of the collateral Under the conditions.
The court or tribunal shall establish a proposal for a restructuring programme if there are conditions for the confirmation, either in accordance with Article 50, Articles 51 to 53 or 54, and not subject to Article 55.
The restructuring programme can be strengthened if all known creditors agree. In such cases, the content of the programme may depart from the provisions of this Act concerning the status of creditors.
However, the programme shall not be established if:
(1) the content of the programme infringes the rights of the debtor, the company of the debtor undertaking, the shareholder, or the legitimate interest of the debtor, or the legitimate interest, or is disproportionate; or
2) there is no sufficient explanation for the fact that there are conditions for the implementation of the programme. (2.3.2007/247)
The restructuring programme may be established if a majority in accordance with Article 52 per group of creditors referred to in paragraph 3 has been approved. In that case, the content of the programme may, to the detriment of creditors who have granted consent, derogate from the provisions of this law on the status of creditors.
If the programme proposal is not adopted pursuant to Article 50, the proposer shall also submit a proposal for the allocation of creditors to groups.
Brokers shall be divided into groups as follows:
1) collateral creditors;
(2) creditors with collateralisation;
3) non-guarantee creditors, so that they are the creditors of their own group whose claims may be recovered without a judgment or a decision, in accordance with the law on the recovery of taxes and charges (367/1961) Lays down;
(4) the creditors whose claims are, according to Article 6 of the Law on the Order of creditors of the creditors, according to the order of precedence of their own groups.
(2.3.2007/247)L-enforcement of taxes and charges 367/1961 Has been repealed by L for the implementation of taxes and charges 706/2007 . See. L-order of creditors of creditors 1578/1992 § 6 .
The majority required to establish the programme shall exist where, for each creditor group, the approval of the programme has been more than half of the creditors voting and their pooled claims represent more than half of the Of the total amount of the creditors of the group who participated in the vote.
When assessing the fulfilment of a majority requirement, no account shall be taken of the creditor or group of creditors which, according to the programme proposal, shall receive full payment at the latest within one month of the adoption of the programme or the legal status of the programme Changes or changes only in such a way that the delay in the payment of the balance before the start of the procedure is corrected and the conditions of the liability remain as they were before the delay. The creditor of the claim shall not be taken into account if, according to the programme, the creditor of a better right is not fully executed or otherwise deteriorates.
The programme proposal shall indicate which of the creditors under paragraph 2 would be without voting rights.
In the assessment of the fulfilment of the majority requirement, the level of restructuring debt shall be taken into account for the purpose of assessing the fulfilment of the majority requirement, as provided for in Article 47 (1).
Even if the requirements of Articles 51 and 52 were met, the restructuring programme cannot be established if:
(1) the content of the programme infringes the rights of the debtor, the company of the debtor undertaking or the shareholder, or the legitimate interest, or is unreasonable in that regard;
(2) there is no sufficient explanation for the fact that there are conditions for the implementation of the programme; (2.3.2007/247)
(3) the content of the programme is not in accordance with Article 44 or fulfils the criterion of equality within the meaning of Article 46;
(4) the content of the programme for the eligible collateral creditor does not meet the requirements set out in Article 45;
(5) any other creditor who has voted against the programme may be likely to have a performance of less than what he would receive in the event of a borrower's bankruptcy without the application of Article 32 (2);
(6) that the programme includes the supply of a debtor enterprise, its business or its assets, or the transfer of these parts as an operational entity, and the creditor who has voted against the approval of the programme is likely to be likely to lead the transfer under the programme; A result which is economically less favourable than what could be achieved in other ways.
The programme shall also be left unconfirmed if the initiation of a restructuring procedure is an obstacle within the meaning of Article 7 (2). (2.3.2007/247)
Although the majority of the creditors in one or more of the creditor groups referred to in Articles 51 and 52 are not met, the restructuring programme may, at the request of the author of the proposal, the liquidator or the debtor, be established under the following conditions:
(1) there is no obstacle within the meaning of Article 53;
(2) at least one group of creditors has voted in favour of the adoption of the programme by a majority of Article 52 and the creditors of all the creditors who voted for it shall represent at least one fifth of all the Claims of known creditors;
(3) the scheme provides that none of the creditors will benefit from any benefit exceeding the amount owed;
(4) if, according to the scheme, the creditors are required to exceed the minimum level required by this law for that group of creditors, the benefit is distributed among the creditor groups in a reasonable manner; and
(5) a vote against a group of creditors other than a creditor group consisting of non-guarantee creditors does not, according to the programme, become a performance.
In addition to what is provided for in this Chapter, the restructuring programme shall not also be adopted if:
(1) the content of the programme does not comply with the requirements of Articles 41 and 42;
(2) the procedural provisions for the processing of the programme proposal have not been followed and the failure to comply with the outcome of the proceedings may be presumed; or
(3) the drafting or processing of the proposal has otherwise been contrary to the law or in an inappropriate manner.
The provision in the restructuring programme, which is contrary to or disproportionate to the law, must not be adopted.
Where a restructuring programme requires that a debtor or another person prior to the adoption of the programme takes a specific decision or performance, takes a specific measure or fulfils a specific condition, the programme shall not be fixed until such a condition: Has been fulfilled.
Where more than one proposal for a restructuring programme fulfils the conditions for the validation of the programme, priority shall be given to a proposal which may be established pursuant to Article 50. Under Article 54, the proposal can only be established if there is no proposal which fulfils the conditions of Articles 50 or 51 and 52. In the case of two or more of the proposals referred to in Article 54, it is necessary to establish the highest support for creditors' groups.
Once the restructuring programme has been established, the terms of the restructuring debts and other legal relationships governed by the programme shall be determined in accordance with the programme. Unknown restructuring debts shall cease when the programme is established, provided that the programme or Article 47 (2) to (4) is not otherwise provided.
The forecluse on the assets of the debtor's assets, on the basis of the restructuring debt, shall expire when the restructuring programme is legally established. The same goes for other implementation based on restructuring debt.
The adoption of a restructuring programme shall not prevent the plea, or the examination of a claim relating to the validity or content of a claim relating to a restructuring debt, if the liability or the right is challenged in the context of the restructuring proceedings, and Article 75 of the Shall be addressed in a separate procedure.
If the debt arrangements for the restructuring programme are limited to the right of creditors to the capital of their claims, the debtor's assets shall not be distributed between the establishment and the end of the restructuring programme, with the exception of Article 42 (1) Or remuneration, as referred to in paragraph 1, and in accordance with the programme.
The effect of the distribution of anti-subsidy funds on the debt regime is governed by Article 64 (2). The obligation to reimburse and compensate the shareholder's shareholder, in breach of the prohibition, is subject to the provisions of (624/2006) in Chapter 13, Article 4 And Chapter 22. (21.7.2006/634)
The undertaking or contract under which the debtor must carry out a declaration based on or related to the restructuring debt shall be null and void unless the performance obligation is based on a reinforced restructuring programme.
The performance of the payment scheme provided for in a reinforced restructuring programme may, if it has been defaulted, be carried out in the form of a judgment requiring a performance.
For the purposes of monitoring the restructuring programme, an administrator responsible for monitoring the implementation of the programme may be entrusted with the task of monitoring the implementation of the programme, taking into account the provisions of Articles 63 to 65 and providing for measures under the programme which do not include: Interested parties. If, according to the programme proposal, the administrator is not required, the supervisory authority may be required by the creditor and the creditors who, pursuant to Article 40, would have been entitled to submit a proposal for a restructuring programme.
A liquidator or other person may be appointed. In accordance with Article 8 (3), as well as Articles 9, 12, 14, 83 to 87, the administrator shall be subject to the administrator.
The term of office of the Brotherhood Commission may be imposed on the programme until the end of the programme.
During the period between the fixing of the restructuring programme and the end of the restructuring programme, the debtor shall have the same obligation of information and participation in relation to the administrator, the Commission of creditors and the Court of Justice, as provided for in Article 13.
The debtor shall periodically inform the creditor commission and the creditors of the implementation of the restructuring programme, or, if not, the debtor. The deadlines for the report may be set in a restructuring programme or a decision establishing it. If that is not the case, the report shall be given every six months.
At the end of the restructuring programme, the administrator or, failing that, the debtor shall immediately submit to the creditor commission and creditors a final statement on the implementation of the programme. The final report shall also be submitted to the relevant district court.
The correction of a clerical or clerical error in the established programme shall be valid for the purposes of the correction of the judgment. The same applies if the amount of the debt is wrongly entered in the payment scheme as a result of the repayment of the debt or other comparable reasons. The Court of Justice may also rectify any other error in the programme if those whose status is affected consent to it. (10.11.1998/794)
The content of a debt facility or a payment scheme under the established programme may be modified with the agreement of the creditor whose right to change is violated. However, a consent shall not be required if the creditor's claim is limited and the creditor's position is not substantially altered. (2.3.2007/247)
Where the amount of the restructuring debt or the creditor's right is established in a manner other than that taken into account under Article 47 (1), the programme shall be amended at the request of the creditor or the debtor, in so far as the creditor's right Shall affect the content of the debt facility under the programme or the payment programme. The same shall apply mutatis mutandis where, in the event of a repayment to the creditor, Article 38 arises from a claim or other restructuring debt which has not ceased pursuant to Article 57 (1). In the event of a change in the payment scheme, debt arrangements shall be placed on an equal footing with other creditors in the same position. (2.3.2007/247)
Paragraph 4 has been repealed by L 2.3.2007/247 .
The fulfilment of the additional performance requirements laid down in the restructuring programme may be performed by a supervisor or creditor.
Save as otherwise provided in the restructuring programme, the application for additional performance shall be made to the court no later than one year after the final report has been given to the court. However, if the final report has not been submitted to the creditor, the creditor shall submit an application no later than two years after the final report has been lodged with the court.
The court or tribunal may, at the request of the creditor, impose an obligation under the restructuring programme to lapse if the debtor has materially failed to fulfil its obligations under the programme to the creditor and has not fulfilled it. Within a reasonable time limit set by the creditor.
Where the prohibition of the allocation of funds referred to in Article 58 has been infringed, the debt arrangement under the restructuring programme may be imposed in respect of the creditors whose entitlement to the capital of the capital is limited in the programme. Such a requirement may be made by a supervisor or by a creditor in respect of his claim. The court or tribunal may waive the requirement if the sums allocated, contrary to the prohibition, have been refunded or replaced, and the lapse of the debt arrangement would be disproportionate.
The court may also order the debt arrangement under the restructuring programme to lapse if the purpose of the programme other than that provided for in paragraph 1 or 2 is provided for in the programme. Such a requirement may be made by a supervisor or by a creditor in respect of his claim.
The debt arrangement shall not be imposed if it is to be assumed that the debtor has acted in accordance with the provisions of paragraphs 1 to 3 in favour of the creditor.
A creditor in respect of which the debt arrangement expires shall have the same right to performance as if the restructuring programme had not been established. However, the debtor shall not pay any interest on the debt for the duration of the debt arrangement, unless the Court of Justice is otherwise determined otherwise.
The restructuring programme may, by decision of the Court of Justice, order the administrator or creditor to lapse if:
(1) after the adoption of the programme, there are elements which, under Article 53 (2), would have prevented the adoption of the programme if they had been known at the time; or
(2) the debtor has broken the programme in order to favour a creditor, and the infringement is not negligible.
Where a debtor is a private undertaking or a self-employed person and a decision is taken during the restructuring programme to open a private person's debt facility, the restructuring programme established under this Act shall lapse. However, the Court may order that the restructuring programme, in spite of the debt regime, does not lapse if there is a specific reason for the fact that the majority of the liabilities included in the restructuring programme have been carried out in accordance with the programme. (2.3.2007/247)
If the restructuring programme is to be imposed, it shall cease to be valid and the creditors will have the same right to payment of the restructuring debt as if the programme had not been established. The lapsing of the programme does not affect the validity of the legal instruments that have already been established.
If the debtor is declared bankrupt before the end of the restructuring programme, the programme shall lapse. The creditor's right to bankruptcy will then be the same as if the restructuring programme had not been established.
Notwithstanding paragraph 1, the Court may, at the request of the debtor or the creditor who made an application for bankruptcy, order that the restructuring programme should not lapse as a result of the bankruptcy if there is a particular reason for the fact that the majority of the restructuring debts are already covered by the Paid in accordance with.
Under Article 32 (2), the position of the debts arising from the start of the procedure is set out in Article 32. The status of the liquidator and the administrator in the event of bankruptcy is governed by Article 87 (5).
If, after the end of the restructuring programme, a debt restructuring debt which could have been converted into a restructuring programme, the debtor must pay the amount owed by the creditor if the debt had been included in the restructuring programme.
Matters relating to the restructuring proceedings provided for in this Act are dealt with in the case of Åland, Espoo, South Karelia, Helsinki, Central Finland, Lapland, Oulu, Pirkanmaa, North Karelia, Northern Savo, Päijät-Häme, Port and Southwest Finland In the district courts. The jurisdiction of the district courts in these matters is laid down by a decree of the Government. (29.12.2009)
The issue of a review procedure is dealt with by the court referred to in paragraph 1, whose jurisdiction is principally governed by the jurisdiction of the debtor. However, the case concerning the restructuring of a subsidiary of a group is dealt with by the court in which the parent company's proceedings are pending. In the event of a subsequent referral to the parent company, the referring court may refer the matter to the Court of Justice where the matter of the parent company is pending. Where a debtor is pending before the Court of Justice, an application for bankruptcy under the restructuring procedure shall also be referred to the Court of Justice. The case concerning the correction, amendment or lapse of a reinforced restructuring programme shall be dealt with by the court in which the restructuring proceedings were pending. If an application is made to the Court of Justice for a bankruptcy application, the court or tribunal shall, if it is not competent, transfer the application to the competent court at the request of the applicant. (26.11.1993/10)
Paragraph 3 has been repealed by L 2.3.2007/247 .
Paragraph 4 has been repealed by L 28.6.1993/609 .
Where an application for bankruptcy of a debtor is pending when an application initiating proceedings is initiated or if an application for bankruptcy is initiated before the decision to initiate the restructuring procedure is final, the bankruptcy application shall be examined In the District Court where the application for restructuring is pending or which has dealt with the initiation of the restructuring proceedings. The district court to which an application for bankruptcy has been lodged shall transfer an application for bankruptcy to the district court dealing with the application for a restructuring application.
During the restructuring process, the application for bankruptcy of the debtor shall be dealt with by the District Court in which the restructuring proceedings are pending.
Where the debtor is declared bankrupt, the District Court referred to in paragraphs 1 or 2 may refer the case to the District Court which otherwise has jurisdiction to deal with the debtor's bankruptcy where appropriate. At the same time, the district court must provide the estate manager.
Processing of the case referred to in this Act shall be governed by In Chapter 8 of the Court of Justice , subject to this law.
The issue of the restructuring of the company must be dealt with by means of appropriate means. (2.3.2007/247)
The application for the initiation of a restructuring procedure shall be submitted in writing to the Office of the Court. Where an application is made pending an application for bankruptcy of a debtor, it may be referred to the Court at a hearing on the application for bankruptcy.
The application shall be accompanied by a necessary statement of the debtor. In addition, the debtor shall attach to his application a statement of his creditors, debts and their securities and of its financial situation. If the debtor has not submitted an application as referred to in Article 6 (1) (1) in conjunction with its creditors and the creditors have not supported the application, the debtor shall explain the main reasons for its financial difficulties: The operation is to be continued in the future and the cost of the restructuring process will be covered and how the debtor will be able to repay the debt owed to the restructuring debts. (2.3.2007/247)
The documents to be annexed to the application and the report required are further specified by the Regulation.
The application for the initiation of a restructuring procedure shall not be admissible in the case of a fixed restructuring programme. (2.3.2007/247)
The court or tribunal shall, on the basis of the size of its claims, submit the debtor's application to the creditors considered to be significant and to the other creditors deemed necessary by the court to hear the application and to give them an opportunity to: A written statement by the deadline. If the debtor's application was made in conjunction with the creditors within the meaning of Article 6 (1) (1), or by the creditors in favour of the debtor's application, the restructuring procedure may be initiated without consulting the other creditors. (2.3.2007/247)
The court or tribunal shall lodge an application for the debtor or the probable creditor for information on the debtor and allow him to make a written statement before the deadline. The court shall also call on the debtor to submit to the court a statement of its creditors, debts and debt securities by the deadline.
If, as a result of an application by a creditor or a probable creditor, the court considers it necessary, it may, before taking a decision to initiate the procedure, reserve to the other creditors referred to in paragraph 2, or A written statement by the creditors of the largest creditors by the deadline.
Where appropriate, the notifications of the application shall be made by a Regulation. (26.11.1993/10)
When deciding to initiate the restructuring procedure, the Court should:
(1) order the liquidator as provided for in Article 83, subject to Article 90;
(2) to set the creditor committee as provided for in Article 84, subject to Articles 10 or 90;
(3) set a deadline by which creditors must notify the liquidator in writing of their claims if they are different from the debtor, or at the risk of failing to take account of the requirement and the withdrawal of the claim as provided for in Article 47;
(4) set the deadline by which the liquidator shall send the information referred to in Article 8 (1) on the financial condition of the debtor to the parties involved;
(5) set the deadline by which the proposal for a restructuring programme must be drawn up and submitted to the liquidator and to the court; and
(6) mark the time of its adoption or delivery.
The decision must be taken into account in the manner in which the opening of the procedure restricts the debtor's right to dispose of his assets and activities.
The liquidator shall notify without delay the decision on the debtor's application or on the creditors, the guarantors, the co-debtors and the security providers. In the event of a debtor within the meaning of Article 10 (4), the decision shall also be notified to the relevant labour and business centre. (10.11.1998/794)
Where a proposal for a restructuring programme has been submitted to the Court, it shall provide the other interested parties, other than the author of the proposal, with the opportunity to make a written statement on the proposal within the time limit, or to invite an interested party to the hearing. A written statement may be made available to the creditor who is invited to appear before the hearing. The notification and invitation and notification of the programme proposal shall be carried out by the liquidator.
The Court may, at the request for the submission of a programme proposal, extend the time limit for drawing up the proposal if it is necessary for specific reasons.
After the expiry of the deadline, the programme proposal submitted shall be disregarded.
Where a proposal for a restructuring programme satisfying the requirements set out in Articles 41 and 42 has not been submitted to the Court within the prescribed period, the court shall provide the applicant, the liquidator and the potential failure of the proposal to the applicant the opportunity to: Heard. If the hearing does not give rise to any other reason, the Court must take a decision on the cessation of the restructuring process.
At the same time, when deciding on the extension of the programme proposal, the Court of Justice shall, by the date of the previous deadline referred to in Article 72 (1), inform the liquidator in writing of the draft programme Claims relating to the claims. The debtor, on behalf of the debtor, may present both the liquidator and the debtor.
The liquidator shall inform the debtor, as well as the creditors whose right to each claim is concerned, by the date of the deadline. Before further processing of the programme proposal, the Court of Justice shall provide a list indicating the author and the target of each claim.
The claims declared after the date referred to in paragraph 1 shall be declared inadmissible.
The claims referred to in Article 74 shall be dealt with and dealt with in the context of the examination of the draft programme if, taking into account the evidence and other factors, it is possible without causing material delay or other damage The restructuring process.
If, pursuant to paragraph 1, it cannot be dealt with and resolved in the context of the restructuring proceedings, the court or tribunal shall, within the prescribed period, provide the party with a duty of proof to refer the matter to a different court or tribunal In accordance with the procedure referred to. The inclusion of that claim in the restructuring programme is provided for in Article 47 (1).
Where the parties concerned have been given the opportunity to express their views on the draft restructuring programme and the court has taken a decision to take account of unclear restructuring debts as referred to in Article 47 (1), the author of the proposal may be reserved: The opportunity to correct, amend or supplement the proposal within the time limit.
The final draft programme submitted by the Court of Justice has to decide how to divide the creditors into groups and which groups are sound. The decision referred to in this Decision shall not be contested separately.
The court shall request, by the deadline of the deadline, the voting rights of the creditors to notify the court of approval or rejection of the draft programme ( Statement of vote ). The voting statement issued after the deadline is ignored. The notification of the request and the minutes of the final programming and the minutes of the proceedings or the written statements of the parties shall be carried out by the liquidator.
The court or tribunal shall inform the liquidator of the voting statements submitted by the deadline. The liquidator shall, without delay, prepare a report on the voting statements and the result of the vote as regards each programme proposal ( Statement of vote ) And shall transmit the report to the court and take care of it.
However, the voting procedure is not necessary if the majority of each creditor group, as referred to in Article 52, has accepted in writing the programme proposal and none of the creditors, in the statement referred to in Article 72, has relied on a point on which: The restructuring programme should not be established. (2.3.2007/247)
Upon receipt of an explanation of vote, the Court may, if it is deemed necessary, an opportunity to make a written statement on the arrangements referred to in Article 61 concerning the monitoring of the programme and the arrangements referred to in Article 61.
The decision of the Court of Justice establishing a restructuring programme and for the monitoring of the programme to be followed shall be notified to the parties involved.
The restructuring programme shall be complied with, in spite of the appeal, unless the court, in which the case is pending, is not in charge. (2.3.2007/247)
The restructuring process will cease once the restructuring programme has been established.
In the event of a call for a suspension of the procedure or for the creditor to declare bankruptcy, the court shall set aside the debtor, the liquidators and the amount of the debts owed to the creditors which are considered to be significant, and Other creditors who are deemed necessary by the court to hear an application, the opportunity to issue a written statement by the deadline or to be invited to appear before the hearing. The notification and invitation and notification of the request to the debtor and creditors shall be carried out by the liquidator.
The liquidator shall inform all parties concerned without delay of the decision to stop the restructuring process.
Before the debt arrangement or the restructuring programme is governed by Article 64 or Article 65, the court shall reserve the debtor, the administrator and the amount of its claims on the basis of the size of the debt to the creditors and other creditors, The court considers it necessary to hear an application, an opportunity to make a written statement or to invite an interested party to a hearing.
The debt settlement shall be immediately notified to the debtor and the administrator, as well as to the creditors, in so far as the Court considers it necessary. The closure of the restructuring programme shall be notified to the debtor, to all creditors and to the administrator.
The Court's decision to initiate or impose a suspension procedure or to impose a temporary prohibition referred to in Article 22 or a restriction on the control of the authority of the debtor referred to in Article 30 shall be declared and notified to certain The authorities and the entry into the register of the trade register and of the various types of assets and of the mortgages, as provided for in the Regulation.
The service referred to in this Act may be effected by post or by electronic means of communication, unless it is necessary to submit a service certificate or an acknowledgement of receipt or any other By means of an evidence service.
A message transmitted by an electronic transmission method shall be deemed to have arrived at the consignee within a period of time if it has arrived at the same time as the law on electronic transactions (13/2003) in Articles 10 and 11 Provides.
The final report may be sent to the creditor at the address given by the creditor in the restructuring proceedings or, subsequently, to the administrator or the debtor.
If the debtor fails to fulfil an obligation under Article 13 or Article 70 (2), the court may order him to comply with it within the prescribed period and impose a penalty payment on the obligation.
The liquidator shall be provided for the opening of the restructuring procedure when deciding on a proposal by a creditor or a debtor. In the absence of a valid proposal, the court shall determine the appropriate and willing person to be the liquidator. (2.3.2007/247)
In place of the liquidator pursuant to paragraph 1, or in addition to the liquidator of the creditor commission, the liquidator shall be replaced. The requirement to replace the liquidator under this paragraph shall be made within one month of the establishment of the creditor commission.
If at least half of the known creditors of one of the categories of creditors referred to in Article 51 (3) require it, the liquidator of the liquidator pursuant to paragraph 1 may be replaced or, in addition, the liquidator. It is required that at least half of the known creditors of each of the above categories of creditors should be supported. The requirement to replace the liquidator under this paragraph shall be made within one month of the commencement of the restructuring procedure.
The liquidator shall always fulfil the requirements laid down in Article 8 (3). However, a person who is in proportion to the debtor or creditor within the meaning of that provision may be determined to be liquidated if at least two thirds of the known creditors of each group of creditors are in favour of his determination. A creditor who does not take the opportunity to express his views shall not be taken into account in the calculation of the majority.
When deciding on temporary prohibitions referred to in Article 22, or at a later date, the court or tribunal may, at the request of the debtor or the creditor, order the temporary liquidator if there is a need. The tasks of the temporary liquidator are laid down in Article 8 (2). According to Article 9 (1), the temporary liquidator is subject to the right of information of the liquidator, Article 12 of the Rules of Procedure, Article 14 on professional secrecy, Article 83 of the Rules of Procedure, Article 85 of the Rules of Procedure, and Article 85 of the Rules of Procedure, Article 86 of the Treaty, Article 87 of the ec Treaty and Article 87 (1) of the ec Treaty and Article 94 (1) of the Rules of Procedure.
The Brotherhood Commission may be set at the time of the decision to initiate the procedure. Subject to Article 10, each member of the Commission shall be assigned to the relevant creditor group on a proposal from the creditor. It may subsequently be supplemented by a representative of a group of creditors whose representation is absent from the Commission. The Chairperson shall elect a Chairperson from among its members. (2.3.2007/247)
A representative of the group of creditors may be replaced if at least half of the known creditors of the group are presented.
The Creditors' Commission shall convene the liquidator or the Chairperson on his own initiative or at the request of a member. Decisions are taken by a simple majority.
If the liquidator fails to fulfil an obligation or duty under this law, the court may order him to do so within the prescribed period and impose a penalty payment on the obligation.
The Court may, on its own initiative or at the request of a creditor commission or a creditor, and after reserving to the liquidator and its discretion, the other interested parties to be heard, dismiss the liquidator of his action if he substantially Failing to fulfil its obligations or to dismiss is another heavy reason. The Court may also, for a valid reason, relieve the liquidator of his duties if he so requests.
The court may order that the decision referred to in paragraph 1 must be complied with, in spite of the appeal, unless the Court of Justice, in which the appeal is pending, determines otherwise.
A replacement of the new liquidator shall be subject to the provisions of Article 83.
The liquidator shall have the right to obtain a reasonable fee from the debtor's assets. When prescribing a premium, account shall be taken of the value of the debtor undertaking at the start of the procedure, the difficulty of the task and the extent of the measures it requires, the results of the liquidator's work and other factors. At the request of the liquidator, the premium may be paid as part of the contract, provided that the duration of the mission, the amount of work and other considerations must be considered reasonable.
The liquidator shall be entitled to receive compensation from the debtor's assets for the costs incurred in carrying out the task. At the request of the liquidator, such compensation shall be carried out in advance or before the end of the mission if, in view of the expected or incurred costs, it is to be considered justified. (2.3.2007/247)
The liquidator shall include an explanation of the measures taken, including a breakdown of the remuneration and cost criteria, in his request for a fee or cost compensation. Where there is more than one liquidator, they shall submit their claims at the same time unless there is a particular reason to proceed otherwise.
The amount of compensation and reimbursement shall be fixed by the creditor commission or, if not, the court. The court or tribunal shall also decide on a fee or compensation case if the liquidator, debtor or creditor wishes to criticise the decision of the creditor Commission and shall initiate the request within 14 days of receiving the notification of the , but no later than one month after the decision was taken. Before a decision is taken, the court shall have an opportunity to be heard.
Where the debtor is declared bankrupt, the amount of the remuneration and the remuneration, as referred to in Article 3 of the Act on the payment order of the creditors, as referred to in Article 3 of the Act on the Order of the creditors of the creditors, as referred to in Article 3 of the Law on the Order of creditors of the creditors, After claims and before the claims referred to in Article 32 (2). The premium paid in the case of non-payment and the remuneration are the same priority as those referred to in Article 4 of the law on the order of creditors of the creditors. (10.11.1998/794)
Save as otherwise provided in the restructuring programme, the reimbursement of the necessary costs of participation in the work of the Commission by a member of the creditor commission shall be subject to the creditor group of which the member is acting or Where the member belongs. (2.3.2007/247)
A member of the Brotherhood Commission shall have the right to receive a reasonable fee if the creditor group, of which the member is or is a member, decides. The decision requires a simple majority, calculated on the basis of the number of creditors and the amount of claims. (2.3.2007/247)
The payment obligation for the creditors of the group referred to in paragraphs 1 and 2 shall be jointly and severally liable. The liability of creditors is determined in proportion to the amount of their claims.
Anyone who wishes to use the right to submit a proposal for a restructuring programme is obliged to draw up a proposal at its own expense.
The costs of participation in the restructuring process shall be borne by the parties themselves. However, the handling of the claims referred to in Article 75 (1) and in the proceedings referred to in Article 87 (4) shall apply mutatis mutandis to the costs of litigation in the event of a dispute.
Where a debtor has made an application for the initiation of a restructuring procedure, the liquidator may be left undecided if no one has submitted a proposal for the determination of the liquidator or otherwise required it. Where an application has been made by a creditor, the liquidator may be waived if, before the decision to initiate the procedure, the debtor's known creditors are given an opportunity to make a written statement and no one requires The determination of the liquidator. As a result of the procedure, the liquidator may be imposed on the creditor or the debtor. (2.3.2007/247)
The court may order the liquidator, even if it is not required, if it is considered necessary for a specific reason. Even if the determination of the liquidator would have been required, the court may leave the liquidator without imposing if there are specific reasons to consider that the determination of the liquidator is not necessary for the preparation of the restructuring programme or for the protection of creditors. (2.3.2007/247)
Paragraph 1 shall apply mutatis mutandis to the establishment of a creditor commission.
If the liquidator is not prescribed:
(1) the obligations of the debtor as referred to in Article 13;
(2) the debtor shall be consulted for the purposes of Article 20 of this Law;
(3) the assets referred to in Article 21 (1) shall be surrendered to the debtor;
(4) the debtor, without the consent of the known creditors, may take legal action which would require the consent of the liquidator under this law;
(5) the court may order the extent to which the debtor may pay the small debts referred to in Article 18 (2) (4);
(6) the notification referred to in Article 27 (3) shall be requested from the debtor, who shall, within a reasonable time, disclose the consent of the known creditors to the contract;
(7) the debtor may, notwithstanding Article 29, declare his property bankrupt;
(8) the service of the liquidator's duties and the preparation of the voting statement shall be carried out by the court.
At the request of the applicant and with the agreement of the debtor's known creditors, the court may decide that the alert referred to in Article 80 for the opening of the procedure is not submitted. However, the Court may publish an alert if it is considered necessary for a specific reason.
If an alert is not submitted, a creditor who has not been informed of the decision to initiate the restructuring process may, notwithstanding the provisions of this Act, request the performance of the claim and exercise his rights as a creditor. However, if the creditor has to be expected to have been informed of the initiation of the procedure, the provisions of Article 47 (2) shall apply.
In the absence of an obstacle within the meaning of paragraph 3, the proposal for a restructuring programme may, without complying with the provisions of Articles 72 and 74 to 76, be set up as a restructuring programme if:
(1) written consent of all known creditors representing a total amount of at least 80 % of the total amount of the creditors'claims, and each creditor whose claim is equal to or greater than 5 % of the creditors' claims; The total amount; and
2) the debtor's written statement.
In the context of the programme proposal, the Court of Justice shall provide a report on how and when to the creditors, who have not accepted the proposal, have been informed of the proposal and given the opportunity to comment on it and the Written statements by the creditors.
A proposal for a restructuring programme shall not be established unless the proposal is in accordance with Articles 44 to 46 against the creditor or otherwise deviates from the creditor's position in respect of the creditor in respect of the creditor's status under this law, or, where the programme is confirmed, Is an obstacle within the meaning of Article 50 (2), Article 53 (2) or Article 55.
Any person who intentionally or negligently initiates a manifestly unfounded application procedure shall be liable for the damage caused to the debtor or the creditor for that purpose.
The liquidator shall be obliged to compensate the debtor or creditor or the guarantor or guarantor of the damage he has caused in the performance of his duties as a result of a failure or omission. As a employer, the liquidator shall be responsible for the damage caused to the persons referred to above: Chapter 3 of the Law on Compensation Provides.
The provisions of paragraph 1 shall apply mutatis mutandis to the liability of a member of the creditor commission.
Any person who intentionally or negligently infringes the obligation of professional secrecy laid down in Article 14 shall be liable for the damage caused to the debtor.
If, in the course of the recovery order, the debtor loses the claim in such a way that the creditor loses the opportunity to sign the claim, the debtor shall compensate the creditor for the damage sustained.
An appeal against decisions of the Court of Justice or the restructuring programme may be subject to appeal, unless the appeal is expressly prohibited or the question of a decision on the matter is not dealt with.
If the decision ordering the rejection of the application procedure has been lodged and the debtor has been declared bankrupt before the appeal before the appeal court, the bankruptcy shall lapse if the restructuring proceedings are initiated. The debts incurred during the course of the course shall be treated as debts incurred during the restructuring proceedings. If the settlement procedure is initiated by a decision of the Court of Appeal and in that case an application for the liquidation of the debtor is pending, the application shall lapse after the adoption of the restructuring programme. (2.3.2007/247)
The Court of Justice shall, without delay, submit an appeal to the Court of Justice for a decision on the opening of the procedure. The appeal must be treated as a matter of urgency. (2.3.2007/247)
The holder of a public-law claim shall be entitled, notwithstanding the rest of the law, to agree to a debt arrangement or a voluntary debt arrangement within the meaning of this Act, which in substance corresponds to the principles laid down in this Act. The consent shall be determined by the authority competent to recover the claim. The same applies to a public body governed by private law.
If, according to the terms of the debt, the debt repayable is recapitalised, the relevant conditions may be replaced by the debt arrangement and treated at the start of the procedure without payment of the amount outstanding, in the same way as debt with no interest Capitalisation.
If the debt arrangement for the debt referred to in paragraph 1 is lapse, the creditor shall be entitled to charge for a fee without taking into account the condition relating to the capitalisation of the interest.
The interruption of the limitation period and the effect of its effect on the claim to be taken into account in the payment programme shall be valid for the purposes of the (728/2003) Articles 11 and 17 Provides. 15.8.2003/746)
If, at the risk of losing the right of the creditor, the creditor is required to recover within the prescribed period and the debt is not subject to the law on the limitation period of the debt, the passing of the time limit referred to in Article 22 or Article 22 Once the ban has been reduced, no payment will be made under the restructuring programme. Where a prohibition of recovery or enforcement based on this law lapses without the adoption of a restructuring programme or a debt arrangement established in the programme, the period referred to in this paragraph shall not be taken into account for the calendar year, During which the prohibition of enforcement or enforcement started, and not after the end of the calendar year in which the prohibition was lifted or the debt arrangement expired. If the restructuring process ceases without the adoption of the restructuring programme, the period of validity of the recovery order shall not be taken into account for the calculation of the period during which the creditor shall require the performance of the guarantor within the meaning of Article 25 (2). 15.8.2003/746)
Where the creditor is required to apply for a forecluse in order to preserve the privileges provided for by the law within a specified period, the entry into force of the privilege shall apply mutatis mutandis, as provided for in paragraph 1.
Where a prohibition of enforcement based on this law lapses without the adoption of a restructuring programme or the debt regime established in the programme, the period referred to in paragraph 3 shall not be calculated in the light of the commencing of the implementing ban and The period between the expiry of the debt facility or the debt arrangement. If the recovery recovery is interrupted by an enforcement order or a restructuring programme based on this law, the time referred to above shall be disregarded in the assessment of the maintenance of the privilege.
Notwithstanding the provisions laid down in this Act, the creditor shall, without prejudice to the periods referred to in Article 99, be able to obtain payment of the debt arrangement without prejudice to the principles laid down in this Act, Under the conditions. In the event of a claim within the meaning of Article 99 (2), the creditor shall, by the end of the calendar year following the end of the period following the end of the period of payment under the terms of the debt arrangement, be liable to the creditor, at the latest, unless the original The deadline for the recovery of the claim. Otherwise, the period of limitation shall be deemed to have been broken when the payment period under the terms of the debt arrangement is terminated.
Where the legal documents referred to in this Act are governed by the law of (195/1984) Or the law adopted by the public courts in general (190/2007) , the Court of Justice, where the case has been pending, may not authorise the access to such a document for scientific research if it is obvious that the disclosure of information does not adversely affect those interests, To which the confidentiality order has been issued. (30.3.2007/376)
The person who has received confidential information under this Article shall be bound by the same obligation of professional secrecy as the person involved.
L for the public hearing 945/1984 Has been repealed by L for the purpose of repealing the law on public access to proceedings 371/2007 .
The Register of Sanceration proceedings shall be provided separately.
This Act shall enter into force on 8 February 1993.
Measures can be taken to implement the law before the law enters into force.
Before the entry into force of this Act, it cannot be reduced the credit costs for the credit period after the recapitalisation programme to the extent that the value of the collateral at the start of the procedure would have been sufficient to cover the debt The present value of the capital and the total amount of the credit costs.
Notwithstanding Article 24 (2), if the debtor has been declared bankrupt before the entry into force of this law, a restructuring procedure may be initiated where an application is made before the property of the debtor has to a significant extent been converted into cash; and No later than before the declaration of bankruptcy. The bankruptcy proceedings are suspended until the decision to initiate the restructuring procedure is taken. If the restructuring proceedings are initiated, bankruptcy will lapse. In that case, debts incurred before the beginning of the bankruptcy are owed, and debts incurred in the course of the bankruptcy are treated as debts incurred during the restructuring proceedings.
In the cases referred to in paragraph 2, the debtor may make an application for restructuring proceedings without prejudice to bankruptcy.
THEY 182/92 , LaVM 15/92This Act shall enter into force on 1 December 1993. However, Article 100a of this Act shall enter into force at the time of the regulation.
If the application for restructuring has been made before the entry into force of this Act, the matter shall be dealt with by the previous law before the competent court.
THEY 216/93 , LaVM 19/93
This Act shall enter into force on 1 January 1999.
Article 27 (1) of this Law shall not apply to claims relating to periods prior to the entry into force of the law.
The provisions of Article 18 (2) (2a), Article 32 (2) and Article 87 (5) of this Law shall not apply if the decision to initiate the restructuring proceedings is taken before the law enters into force.
THEY 68/1998 , LaVM 8/1998, EV 105/1998
This Act shall enter into force on 1 December 1999.
THEY 146/1998 , LaVM 20/1998, EV 234/1998
This Act shall enter into force on 1 January 2002.
THEY 180/2001 , TaVM 20/2001, EV 203/2001
This Act shall enter into force on 1 January 2003.
The court seised before the entry into force of this Act shall be examined by the Court in accordance with the provisions in force at the time of entry into force of this Act.
THEY 32/2001 , No 12/2002, EV 97/2002
This Act shall enter into force on 1 March 2004.
THEY 216/2001 , LaVM 34/2002 EV 305/2002
This Act shall enter into force on 1 September 2004.
THEY 26/2003 , LaVM 6/2003, EV 113/2003
This Act shall enter into force on 1 September 2004.
THEY 153/2003 , LaVM 8/2003, EV 131/2003
This Act shall enter into force on 1 June 2007.
Measures can be taken to implement the law before the law enters into force.
Unless otherwise provided for in paragraphs 4 to 12, this law shall apply if the application for the initiation of the restructuring proceedings or the adoption of a restructuring programme pursuant to Article 92, or an application for the liquidation of the debtor, shall be initiated after the entry into force of the law.
The provisions of Articles 10 (1), 84 (1) and 88 (1) and 88 (1) and (2) of the Act shall apply even if the application initiating proceedings has been initiated before the law enters into force.
Article 24 (1) and (2) of the bankruptcy application shall apply even if the application initiating proceedings or an application for the liquidation of the debtor has commenced before the law enters into force.
Article 37 (3) shall apply to the application of an application for recovery if the court finds the liquidator seised by the creditor after the entry into force of the law.
Paragraph 63 (2) on the amendment of the restructuring programme shall apply after the entry into force of the law in a future case, even if the application has been initiated or the restructuring programme has been established before the law enters into force.
If the restructuring programme is established before the law enters into force or confirms that the application for the initiation of the restructuring proceedings is pending at the date of entry into force of the law, the additional payment may be required for the purposes of Article 63 (4) in force at the date of entry into force of the law Unless otherwise specified in the restructuring programme. Article 63a on the request for additional performance shall also apply. However, in the event of a final settlement of the programme before the entry into force of the law, the administrator or creditor may, notwithstanding Article 63a (2), require an additional payment within one year of the entry into force of the law.
Article 65 (2) of the sunset clause applies if the decision to initiate a private debt facility is taken after the entry into force of the law.
According to Article 67 (1) of the Act, the jurisdiction of the Court of Justice is governed by Article 67 (1) of the Law. However, under the law applicable when this law comes into force, the competent district court shall consider a case pending at the time of entry into force of the law.
Article 76 (5) of the voting procedure applies even though the application for the initiation of a restructuring procedure has been made before the law enters into force.
Article 83 (1) and Article 83 (2) of Article 83 (1) and Article 87 (2) on the costs of the liquidator shall apply, even if the application initiating proceedings has been made before the entry into force of this Act.
THEY 152/2006 , LaVM 22/2006, EV 246/2006
This Act shall enter into force on 1 October 2007.
THEY 13/2006 , LaVM 24/2006, EV 269/2006
This Act shall enter into force on 1 July 2010.
THEY 24/2009 , YmVM 10/2009, EV 206/2009
This Act shall enter into force on 1 January 2010.
Upon entry into force of this Act, the case pending shall be postponed:
1) Joensuu's district court in North Karelia District Court;
2) From the District Court of Jyväskylä to the District Court of Central Finland;
3) Copies of the district court of Kuopio District Court of North Savo;
4) On the Lahti District Court of Päijät-Häme;
5) Lappeenranta District Court of South Karelia District Court;
(6) Pori's District Court in the District Court of Port;
7) from Rovaniemi, to the district court of Lapland;
8) from the Tampere District Court to the Pirkanmaa District Court;
(9) From the District Court of Turku to the Supreme Court of Finland;
10) From Vaasa's District Court to the North District Court.
Before the law enters into force, action can be taken to enforce the law.
THEY 227/2009 , LaVM 18/2009, EV 240/2009
This Act shall enter into force on 1 January 2015.
THEY 175/2014 , TaVM 20/2014, EV 191/2014, Directive 2014 /59/EU of the European Parliament and of the Council (32014L0059); OJ L 173, 12.6.2014, p. 190
This Act shall enter into force on 1 December 2015.
THEY 166/2014 , LaVM 20/2014, EV 276/2014
