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The Law On Bankruptcy And Reorganisation Of An Undertaking From The Register

Original Language Title: Laki konkurssi- ja yrityssaneerausrekisteristä

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Law on bankruptcy and corporate restructuring register

See the copyright notice Conditions of use .

In accordance with the decision of the Parliament:

ARTICLE 1
Purpose and maintenance of the register

The Legal Register Centre maintains a common register of bankruptcy and corporate restructuring issues. The purpose of the register is to ensure the availability of up-to-date information on bankruptcy and corporate restructuring proceedings for judicial and administrative action, the lobbying of creditors and the protection of collateral interests and rights.

ARTICLE 2
Data labelling

The Court of Justice shall record the information in the register as provided for in this Act. More detailed provisions on the labelling of data are laid down by a decree of the Ministry of Justice.

ARTICLE 3
Information on bankruptcy application

Where an application for bankruptcy has been initiated, the court shall enter in the register:

1) the court and its contact details as well as the number and the date of initiation of the case;

(2) the current and previous name or business name and address of the debtor and the contact details of the debtor, the identity of the debtor, the identity of the company and the entity or any other equivalent symbol;

3) the applicant and his contact details ( Process address ).

§ 4
Other information relevant to bankruptcy

The court shall enter into a register of the bankruptcy proceedings:

(1) the date and time of the decision to declare bankruptcy;

(2) the names and contact details of the administrators, as well as the provision of the assignment of tasks between the estate managers;

(3) the rejection or inadmissibility of the application, as well as the absence of a case, referral or return to another court;

4. Cancellation or lapse of bankruptcy;

(5) the transition to a public report and the return of the administration of the estate;

6. Establishing the list of divisions;

(7) appeal against the decision referred to in paragraphs 1 to 4 and 6.

When the administrator has informed the court of the date of application of the surveillance day, the court shall register the date of supervision and the names and contact details of the receiver.

On the basis of the declaration of the administrator, the registry shall be entered in the register by means of an indication of the acceptance of the final statement. If the debtor has legal personality, the register shall also indicate whether the debtor has assets at the end of the liquidation.

§ 5
Information on the application for a business restructuring

Where an application for a business restructuring is initiated, the court shall enter in the register:

1) the court and its contact details as well as the number and the date of initiation of the case;

(2) the current and previous name or business name and address of the debtor and the contact details of the debtor, the identity of the debtor, the identity of the company and the entity or any other equivalent symbol;

3) the author of the application for restructuring and the contact details ( Process address ).

ARTICLE 6
Other information on corporate restructuring

The court shall register a register of business in the register:

(1) the temporary prohibition and the cessation of the proceedings before the opening of the procedure;

(2) the date and time of the decision to initiate the corporate restructuring procedure;

(3) the rejection or inadmissibility of the application or the absence of a case or referral to another court;

(4) the cessation of proceedings;

(5) strengthening of the restructuring programme;

(6) modification of the restructuring programme;

7. The lapse of the debt regime;

(8) the expiry of the restructuring programme;

(9) the adoption of a final report;

(10) appeal against the decision referred to in paragraphs 2 to 8.

Once the business restructuring proceedings have been initiated, the Court shall enter in the register:

(1) the names and contact details of the liquidators and the provision of the assignment of tasks between the liquidators;

(2) the date by which the creditors must inform the liquidator of their claims;

(3) the deadline for drawing up a proposal for a restructuring programme;

(4) restrictions on the control of the debtor;

(5) the date of submission of claims for claims;

(6) the date of submission of the statement of the programme proposal;

(7) the date of application for the voting statement on the programme proposal;

8) setting the creditor commission.

When the court has established a restructuring programme, the name and contact details of the administrator shall be entered in the register if the probation officer is prescribed.

§ 7
Removal from the register

Information on the bankruptcy case shall be deleted from the register when:

(1) three months have elapsed since the application for bankruptcy has been rejected or dismissed, or when the bankruptcy has been ordered to be cancelled;

(2) three years have elapsed since the bankruptcy has been imposed;

3) has elapsed three years from the adoption of the final statement.

However, the information on the bankruptcy of a natural person will be deleted at the latest five years after the start of the bankruptcy.

Information on the business restructuring case shall be deleted from the register when:

(1) three months have elapsed since the application for a company restructuring has been rejected or dismissed as inadmissible;

(2) three years have elapsed since the restructuring process has ceased for any other reason than the adoption of the programme;

(3) six months have elapsed since the adoption of the final report;

4) is three years after the expiry of the restructuring programme.

The periods referred to in paragraphs 1 and 3 shall be calculated from the date on which the case has been settled by the court. If, at the end of that period, proceedings are pending before the Court of Appeal, the decision of the Lower Court shall not be deleted before the Court of Appeal has settled the case. For the final statement, the period shall be calculated from the date on which it was approved and for the final statement of the date on which it was given to the court.

§ 8
Accessibility of information

Labelling shall be made without delay. Merking of the decision to declare bankruptcy and the decision to declare bankruptcy, and the decision on the initiation of a business restructuring application, the opening and closing of the restructuring procedure, and the temporary prohibition and its Shall be made on the same date on which the application has been received or the decision taken.

§ 9
Publicity and disclosure of information

The information entered in the conversion register shall be made public. Everyone has the right to information and extracts from the register. Information on the register shall be communicated to the public authorities Article 16 (2) of the ec Treaty Notwithstanding paragraph 3, by electronic means for an acceptable purpose.

The Centre shall submit the necessary information from the register to the trade register authority and to any other authority that requires information to be maintained in a register which it maintains. Data may be disclosed in electronic form.

ARTICLE 10
Payments

The information to be provided through the bankruptcy and corporate restructuring register shall be charged to the State in accordance with the provisions of the State Payment Act (150/1992) Provides. However, the information provided to the Authority for entry into the register shall be provided free of charge.

ARTICLE 11
Correction of information

The legal register shall be without undue delay on its own initiative or at the request to correct the incorrect information in the register. The Centre shall provide information on the correction of the information to which it has supplied incorrect information, unless it is impossible to disclose or require undue effort.

If the court or tribunal dealing with a case of bankruptcy or corporate restructuring becomes aware of the incorrect information in the register, it shall immediately correct the label or inform the Centre of Justice. Similarly, the court must proceed if the information entered in the register changes.

ARTICLE 12
Substituting liability

The State must replace the damage caused by incorrect information in the register, even if (412/1974) in Chapter 3, Article 2 There is no error or omission. However, if the person concerned is other than the debtor, the condition for reimbursement is that the injured person did not know and should not have known that the information was incorrect. Otherwise, the compensation for damage referred to in this Article shall be governed by the provisions of the law on compensation.

ARTICLE 13
More detailed provisions

More detailed provisions on the content and labelling of information may be laid down by a decree of the Ministry of Justice.

ARTICLE 14
Entry into force

This Act shall enter into force on 1 September 2004.

This law repeals the Decree of 4 November 1994 on the register of bankruptcy and enterprise restructuring (958/1994) .

The provisions on the marking of this law shall apply where a decision or other measure is taken or takes place after the entry into force of this Act.

Where the bankruptcy proceedings have been issued or the restructuring programme has been established before the entry into force of this Act, the data shall be deleted from the register no later than 10 years after the date of the bankruptcy of the bankruptcy or the adoption of the restructuring programme.

Article 12 of this Act shall apply if the damage has been caused after the entry into force of this Act.

THEY 153/2003 , LaVM 8/2003, EV 131/2003