Insolvency Law

Original Language Title: Maksātnespējas likums

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Read the untranslated law here: https://www.vestnesis.lv/ta/id/214590

The Saeima has adopted and the President promulgated the following laws: the law of insolvency in A section of the General provisions chapter I purpose of the law and the law of the terms used in article 1. The purpose of the law the purpose of the law is to promote the financial difficulty of the debtor's obligations have been discharged and, if possible, to restore solvency, applying the principles laid down in the law and legal solutions.
2. article. The scope of the law (1) of the Act apply to legal persons (except inheritance) or physical person.
(2) in relation to a State, municipal or other public law legal persons specified in this Act insolvency proceedings and the legal protection process does not apply.
(3) the insolvency of credit institutions governed by a separate law.
(4) On the financial and capital market participants in the insolvency process, monitoring of the activities of which in accordance with legislative requirements, financial and capital market Commission, the provisions of this law apply, in so far as the financial and capital market participants in the special law governing rules otherwise.
(5) On the financial collateral arrangements the subject of insolvency proceedings, the provisions of this Act apply, subject to financial collateral law exceptions and additional terms.
3. article. The legal protection process (1) the legal protection process is the legal campaign, which aims to restore the ability of the debtor to settle its obligations when the debtor in financial trouble or considers that they come in.
(2) the legal protection process is started with the day when the Court proposed the legal protection process thing and progressing up to the date of the Court decision on the termination of the legal protection process.
4. article. Legal entity insolvency proceedings (1) the legal person of the insolvency process is a legal set of measures within the framework of which the debtor is settled the claims of creditors in order to facilitate the debtor's obligations have been discharged.
(2) a legal person of the insolvency process is started with the day when the Court ruling declared insolvency, and progressing up to the date of the Court decision on the termination of the insolvency proceedings.
5. article. Natural person bankruptcy process (1) natural persons of the insolvency process is a legal set of measures whose objective is as complete as possible to meet the claims of creditors of the debtor and the debtor the opportunity of that property and the income is not enough to cover all the obligations, be freed of outstanding obligations and to restore solvency.
(2) natural persons of the insolvency process is started with the day when the Court ruling declared insolvency, and progressing up to the date of the Court decision on the termination of the insolvency proceedings.
6. article. The legal protection process, legal person of the insolvency practitioner and the individual insolvency principles the legal protection process, legal person of the insolvency process and natural persons in the insolvency proceedings (referred to in this article in the process) the General principles are the following: 1) rights principle – the process before the process is being observed the rights of creditors. Creditor's rights limitation set in the process can not be greater than is necessary to achieve the objective of the process;
2) the principle of equality of creditors – creditors are given equal opportunity to participate in the process and get the satisfaction of its claims in accordance with the commitments they made to the debtor before the commencement of the proceedings;
3 the principle of the prohibition of arbitrariness), the creditor and the debtor should not make individual actions that harm the interests of creditors generally;
4) principle of obligations-process measures are applicable, which makes the obligations entered into by the debtor, to execute the most;
5) process effectiveness, process measures are applicable, which makes the least resource consumption the most complete to achieve the objectives of the process;
6) revolving speed key-the process the task is to maintain commercial circulation speed. The disposal of the property of the debtor is to be carried out as soon as possible to ensure the return of the commercial chain;
7 the principle of openness), to ensure the reliability of the information about the process should be available to all persons involved in the process, thereby promoting the interests of individuals and the attainment of the objectives of the process. The exception is information, not limited to disclosure might harm the debtor or the legitimate interests of creditors;
8) good faith principle, persons involved in the process, your rights and obligations must be used to comply in good faith. The debtor and the creditor may not be used in the process to unjustly would.
7. article. Secured creditor (1) the secured creditor is a creditor whose claim is secured by the pledge, in the land register or ship register the mortgage.
(2) the secured creditor's claim unsecured parts is considered unsecured creditors. Secured creditor is entitled at any stage of the proceedings to refuse all or part of the claim for coverage by public registers accordingly.
8. article. Not secured creditor Not secured creditor is a creditor whose claim is not covered by this law, article 7 of the security referred to in the first subparagraph.
9. article. The insolvency practitioner (1) the insolvency practitioner is an individual who has obtained insolvency practitioner certificate and has the following statutory rights and obligations.
(2) in this Act and other regulations laid down by the insolvency administrator rights and obligations the liquidator is also Council on 29 May 2000 Regulation (EC) no 1346/2000 on insolvency proceedings (hereinafter referred to as the Council Regulation No 1346/2000).
10. article. The application of the rules of the law of the specific characteristics of the natural persons and partnerships apply to legal persons related rules if this law provides otherwise.
11. article. The legal protection process, legal person of the insolvency process and natural persons the insolvency practitioner costs

The legal protection process, legal person of the insolvency and bankruptcy proceedings of physical persons is the insolvency practitioner remuneration and expenses incurred to ensure the legal protection process, legal person of the insolvency or bankruptcy of natural person legitimate and effective process.
12. article. Insolvency Register (1) in order to ensure the legal protection process, legal person of the insolvency practitioner and an individual's public access, the insolvency practitioner responsible authority manages the insolvency register, which is included in the law. Insolvency register are all available for free, and it records is public confidence.
(2) the register records the details of the insolvency practitioner, the legal protection process, legal person of the insolvency practitioner and an individual's insolvency proceedings.
Chapter II the insolvency practitioner article 13. The insolvency practitioner requirements and restrictions (1) of the insolvency administrator (hereinafter referred to as the administrator) may be legally competent physical individual: 1) which reached 25 years of age;
2) which received the nationally recognized educational document on the second level of higher professional education training in law and obtained legal qualifications or received national recognition of educational documents on the acquisition of higher academic education in law and obtained the scientific degree;
3) which State a language at the highest level;
4) which, after the first part of this article referred to in paragraph 2, the education and training of at least three years of work experience in law or equivalent position.
(2) The administrator may not be a person: 1) which does not meet the requirements of the first subparagraph;
2) certificate from the date of termination in accordance with this law, article 17, first paragraph, point 6 or the second part of no five years;
3) that revoked the administrator certificate;
4) recognized guilty of intentional criminal offence or against whom criminal proceedings terminated for intentional criminal offence to a person does not reabilitējoš;
5) which for the last five years handed down to an individual's insolvency;
6) which was a legal person, the Member of the administrative organ and its negligence or deliberately led these legal persons to legal persons of the insolvency process;
7) which, on the basis of the decision of the disciplinary proceedings, excluded from the Attorney or his assistant, laid off from a public prosecutor or cancelled from the sworn bailiff, his assistant, sworn notaries, his Assistant or judge until the expiration of five years from the date of the decision of the disciplinary procedure entered into force.
14. article. Administrator professional organization (1) the Administrator of the professional organisations function implemented in society "Latvian certified insolvency practitioner Association" (hereinafter referred to as the Administrator of the Association).
(2) the Administrator of the Association in accordance with the procedure laid down in this Act the following administration tasks: 1) trained administrator candidates;
2) certified by the administrator;
3) organizes the development of professional qualification of the administrator;
4) administrator re-certification;
5) issued, extended the lead, ended the cancelled certificates and certificates, duplicate records;
6) cease certificate administrator actions and withdraw them.
(3) the tasks of the public administration, Administrator for the Association has the following rights: 1) request the administrator to receive from him the necessary information and relevant documents;
2) request from the legal protection process and the parties to the proceedings and persons and to receive from them by administrator action related news and documents;
3) to require State and local authorities and to receive free of charge from those administrators association functions require the administrator action related information.
(4) the cabinet shall determine the Administrator the task of association within the supplied charge service price list.
(5) the Administrator of the Association in the course of the second part of these tasks is entitled to issue administrative acts.
(6) the Administrator of the Association in fulfilling the second part of this article, these tasks are the responsibility of the functional administrators.
15. article. Administrator training of applicants (1) the Administrator of the applicant's hearing is a course administrator exam sort prerequisite.
(2) the Administrator of applicants training and issuance of proof of the Administrators Association.
(3) the cabinet shall determine the administrator training program applicants and the order in which a receipt for the course is hearing as well as the period of validity of this certificate.
16. article. Administrator certification and certification (1) the Administrator certificate is a document certifying the professional qualifications and the administrator gives the person the right to take on and fulfill the duties of the administrator.
(2) the Person who complies with this law, in article 13, first paragraph, the requirements and which is after hearing administrators training course, applicants have the right to exit the administrator certification.
(3) the Person who successfully met all certification requirements, the Administrator shall issue a certificate of the administrator of the Association. Administrator certificate period of validity is two years. Administrator certificate validity period can be extended by further certification.
(4) the Administrator shall be obliged periodically to improve their qualifications and perform professional activities in accordance with the procedures laid down in the laws and the amount. Administrator Professional and skilled Administrator Association assessed every two years by further certification.
(5) the cabinet shall determine the administrator certification and qualification development and administrator recertification procedures.
Article 17. Administrator certificate of termination and cancellation (1) Administrator certificate operation shall end with the expiry of the period or deciding on its termination in the following cases: 1) the administrator is convicted for an intentional criminal offence;
2) administrator with judgment of the Court of Justice recognized as incapacitated;
3) administrator submitted the application on the administrator certificate of termination;

4) administrator declared an individual's insolvency;
5) administrator is not certified in the order;
6) the Court annulled the administrator on this law, article 22, second paragraph, point 7;
7) administrator in the event of death.
(2) the decision on the termination of the administrator certificate may be accepted, if the last two actions of the administrator certificate years Court for violations of the law have twice lifted the administrator from his duties.
(3) the decision on the cancellation of the certificate of the administrator, if the administrator accepts the certification process provided false statements.
(4) the certificate of termination of the Administrator and the administrator certificate revocation of administrators ' Association.
(5) the cabinet shall determine the administrator certificate of termination and cancellation procedures.
18. article. Administrator of publicity activities (1) the responsible authority as administrator of insolvency register, record the following information: 1 name of administrator);
2) administrator certificate number;
3) administrator certificate issue date;
4) administrator practice location address;
5) administrator's phone number;
6) administrator's e-mail address;
7) administrator certificate of cancellation or termination date;
8) entry date.
(2) the Administrator of the Association provides the first part 1., 2., 3., 4., 5., 6., 7. message referred to the availability of the responsible authority, which shall make entries in the register of insolvency.
Chapter III the appointment of an Administrator and the abolition of article 19. Appointment of an administrator in the legal protection process, legal person of the insolvency process and natural persons in the insolvency proceedings (1) the Administrator of the legal protection process, legal person of the insolvency process and natural persons shall be appointed by the Court in the insolvency proceedings in accordance with the procedure laid down in this law.
(2) the cabinet shall determine the order in which the insolvency administration chooses and recommends to the Court administrator candidate. Insolvency administration proposal is recommended, and it is final or appealable administrative procedure law.
20. article. Restrictions of the administrator duties (1) the duties of an Administrator given legal protection in the process of insolvency, the administrator can not accept and meet the following conditions: 1) the period of validity of the certificate of the administrator has elapsed, the transaction is ended or the certificate is revoked;
2) administrator is a suspect, the accused or defendants in the criminal proceedings related to his actions in a given legal protection, legal person of the insolvency process, or natural persons in the insolvency proceedings;
3) administrator in accordance with the provisions of this law, be considered as interested parties in relation to the debtor;
4) administrator in accordance with the provisions of this law on the conflict of interest situation in respect of a debtor or creditor;
5) administrator to the debtor in the last five years before the date of the insolvency process has existed for labour relations;
6) the debtor's right of action against the administrator or the administrator's right of action against the debtor or the debtor and the administrator is not necessarily abandoned them;
7) the administrator is personally interested in the legal protection process, in the case of a legal person or an insolvency case natural persons in the case of insolvency proceedings or there are other circumstances that cause reasonable doubt as to his impartiality.
(2) if the administrator apply any of this article, the case referred to in the first subparagraph, he shall immediately inform the Court and the administration of the insolvency.
21. article. Restrictions on the exercise of functions in administrator conflict of interest situation (1) the Administrator is in the situation of a conflict of interest if he is given the legal protection process, legal person of the insolvency process, or natural persons in the performance of the insolvency proceedings with administrator duties related activities, which he himself, his family or business partners are or could be personal or financial interests in, or if he performs with administrator duties related activities in respect of a debtor where the participant, shareholders, members, monitoring, control, or a member of the Executive Body, is he himself or his loved ones.
(2) in the first subparagraph for the application of constraints on administrator's relatives considered the person who composed the administrator in marriage, kinship or affinity up to the second degree.
22. article. Administrator canceling (1) the Administrator shall be repealed by the Court on its own initiative, the insolvency administration or administrator application or the creditors meeting.
(2) the Administrator shall be cancelled if: 1) concerning him exist in article 20 of this law certain limitations;
2) he does not meet the regulatory laws of insolvency;
3) he does not comply with a court order;
4) he does not fulfil the obligations of insolvency administration legal obligation;
5) he resigned (article 23);
6) has proposed a meeting of creditors to cancel the administrator of the specific legal entity insolvency proceedings or the physical person's insolvency, if the administrator has not provided effective insolvency proceedings;
7) he is abusing its powers;
8) his certificate or certificate of termination revoked.
(3) if the administrator of the irregularities in the operation, the administrator shall be cancelled only in the process of legal protection, legal person of the insolvency process, or natural person bankruptcy process, which found irregularities.
(4) If the administrator's certificate or a certificate of the administrator closed void, insolvency administration submitted an application for the cancellation of all administrator legal protection proceedings, insolvency proceedings the legal person or natural person bankruptcy proceedings in which he is appointed.
23. article. The resignation of the administrator (1) the Administrator shall have the right at any time to resign, if the objective circumstances, he was unable to perform the duties of the administrator.
(2) by way of derogation from the post, the administrator shall submit to the Court in support of the application on resignation, which added to his activity report, as well as documents and belongings of the reception and transmission of the instrument, while informing the insolvency administrators.

(3) the Administrator may resign if their present law limits laid down in article 20.
(4) by way of derogation from the post, the administrator shall comply with this Act, the provisions of article 24 of the administrator.
24. article. Change administrator (1) if the administrator is revoked, article 19 of this law in accordance with the procedure prescribed by another administrator is appointed.
(2) if the previous administrator resigns or is cancelled, within the time limit fixed by the Court, which may not be longer than 30 days, the administrator shall draw up a preliminary document and the adoption and transfer of property Act, signed by the previous administrator and the new administrator. Document and the adoption and transfer of property Act to add to the previous administrator activity report.
(3) the appointment of a new administrator to the previous administrator shall continue to perform their duties. After the new appointment of an administrator of the previous administrator in accordance with the procedure prescribed by law is responsible for the document and the goods of the debtor of the transfer to the new administrator in accordance with the document and the goods acceptance and commissioning.
(4) if the document and the goods reception and referral activities Act and report objectively feasible, the new administrator, launching duties, draw up a report on the actual situation and notify the creditors in accordance with the procedure laid down in this Act.
25. article. Termination of the duties of the Administrator Administrator duties shall expire: 1) if the administrator is revoked from the post;
2) If termination of the legal protection process, with the exception of this law, article 59 of the cases referred to in the third subparagraph;
3) If a legal person is terminated, the insolvency process, except for article 35 of this law in the fifth part of the event;
4) If termination of an individual's insolvency;
5) administrator in the event of death.
Chapter IV Administrator actions General provisions article 26. Administrator General obligations (1) After receipt of the certificate of the administrator administrator: 1) register with the State revenue service as tax payer;
2) declares the State revenue service in one location and notify the Administrator of the Association.
(2) the Administrator shall ensure effective and legitimate process of redress, legal person of the insolvency and bankruptcy of natural person progress and achievement of objectives.
(3) the Administrator has the following responsibilities: 1) to participate in the court process of redress, legal person of the insolvency practitioner and the individual insolvency cases;
2) provide information about the legal protection process, legal person of the insolvency practitioner and the individual insolvency proceedings the Court, meeting of creditors, bankruptcy administration and other regulations specified persons and institutions;
3) announce five days for practice Administrators Association site, electronic mail address, name, surname;
4) cooperate with the authorised persons and institutions, in accordance with the laws of other countries have the right to exercise their powers of redress process, the insolvency process of a legal person or natural person bankruptcy proceedings;
5) at the request of the administrators to provide their activity report, documents and details of the redress process, the insolvency process of a legal person or natural person bankruptcy process, in which the administrator is served or duties;
6) if the financial and capital market transactions surveillance in accordance with legislative requirements, financial and capital market Commission, at its request, provide the Commission with information or report on the financial and capital market participants the legal protection process or legal person of the insolvency proceedings;
7) consider complaints about a particular process of redress, legal person of the insolvency process, or natural person bankruptcy proceedings and two weeks to reply to the complainant;
8) to give law enforcement authorities the messages and materials on legal protection, legal person of the insolvency process, or natural persons in open proceedings facts that may give rise to criminal proceedings.
(4) the Administrator shall ensure that he is unreachable practice address using the contact information, as well as correspondence addressed to him (including a secure electronic signature in a signed document).
(5) the Administrator of the legal persons during insolvency proceedings organized by the debtor's accounting records according to the requirements of the law.
27. article. Administrator General rights Administrator has the following rights: 1), to request and receive from the debtor and its representatives in the process of legal protection, legal person of the insolvency process, or natural person bankruptcy process the required information;
2) to request and receive from State and local authorities free of charge to the redress process, the insolvency process of a legal person or natural person bankruptcy process the required information about the debtor and the debtor's representatives;
3) to request and receive from other competent persons and institutions the information in their possession related to the legal protection process, legal person of the insolvency practitioner and the individual insolvency proceedings;
4) look at the financial situation of the debtor and any other documents, as well as to request and receive any documents.
28. article. Administrator notification (1) the Administrator shall have the right, within one calendar year, for a period not exceeding 60 days, authorize any other administrator, pursuant to article 20 of this law in the limits, perform the duties of the administrator.
(2) the Administrator shall immediately after the first paragraph of this article, in particular the mandate issue be submitted to the responsible authority, which manages the insolvency register, the application for authorisation.
29. article. Administrator's liability (1) the Administrator is liable for damage that they or the fault of the Governors of the State, the damage caused to the debtor, creditors or other persons.
(2) the Administrator shall be responsible for the debtor and previous administrator conduct and transactions that closed before he started to perform administrator duties.
30. article. Of its claims against administrators

(1) claims against the administrator can bring the Court not later than one year after the process of redress, legal person of the insolvency process, or an individual's termination of the insolvency proceedings.
(2) if the administrator with your actions have caused losses to the State, the debtor, creditors or other parties, and it is found by a court in criminal matters, the requirements against administrator, attributed the general limitation period.
(3) a creditor or creditors representing at least 10 per cent of the total approved unsecured creditors the amount of the principal sum, may bring a claim against the debtor's right of the administrator, if the administrator with your actions have caused him a loss.
31. article. Administrator Security Administrator (1) this Act provides for the cases, when he and his action causes loss to the State, the debtor, creditors or other persons. Administrator security is his civil liability insurance.
(2) the Administrator of a civil liability insurance policy, as well as the minimum sum insured is determined by the Cabinet of Ministers.
(B) the legal protection process section of chapter V the legal protection process General provisions article 32. The subject of legal protection (1) the legal protection process is applicable to legal persons, partnerships, individual merchant, person established abroad who carry out continuous business operations in Latvia, and the agricultural producer (hereinafter in this section – the debtor).
(2) agricultural producers in the legal protection process understands the legal persons, from which the annual income by more than 50 percent of the legal protection process on the day of submission of the application constitutes income from agricultural production and processing. The production of agricultural products and processing of this law established the understand of the European Parliament and of the Council of 28 January 2002, Regulation (EC) No 178/2002 on food law the General principles and requirements, establishing the European food safety authority and laying down procedures in matters of food safety.
(3) the legal protection process does not apply to such financial and capital market participants: the insurer, the insurance brokerage company, stock exchanges, brokerage company, depository, investment firm, credit unions, credit and private pension funds.
33. article. The legal protection process, the application process, the application of legal protection shall be submitted to the Court, the debtor law of civil procedure.
34. article. Constraints in the process of legal protection proceedings (1) the process of legal protection proceedings may not be initiated if: 1) has begun the liquidation of the debtor in the form prescribed by the laws;
2) debtor in the last five years and has been implemented in accordance with article 51 of this law in the fourth ended the legal protection process;
3) the debtor in the last four months has been proposed and, in accordance with article 51 of this law, the first paragraph is terminated the legal protection process.
(2) the first subparagraph of paragraph 2 shall not apply where the debtor is a legal person have been declared insolvency and filed the legal protection process.
35. article. Appointment of an administrator in the legal protection process (1) the Administrator shall be appointed by the legal protection process of the Court by the debtor or insolvency administration recommendations.
(2) the Administrator of a particular redress process to appoint the Court's recommendations by the debtor, if the debtor has agreed with the administrator and in article 42 of this law in the third part of a majority of creditors and the administrator candidate is given the legal protection process of the action plan.
(3) if the debtor has not reached in part two of this article, this agreement, he shall submit the plan of measures of redress, the Court to appoint an administrator. Administrator-designate a Court recommends that insolvency administration.
(4) where the redress process, the administrator is cancelled, new admin candidate recommends the debtor to the Court within 15 days from the date of the decision on the abolition of the administrator, subject to the second subparagraph, with the exception of rules on the identification of the legal protection of the administrator of the process plan. If no agreement is reached, the administrator of the nominee to the Court suggests insolvency administration.
(5) the legal protection process, which rendered the legal person at the termination of the proceedings, the insolvency administrator shall continue to perform the duties of an administrator, who appointed the insolvency process of a legal person if the debtor in accordance with the procedure laid down in this article has agreed with creditors of another administrator.
36. article. The legal protection process things publicity in the body responsible for the register of insolvency legal protection proceedings record the following information: 1) the debtor company (name);
2 the registration number of the debtor);
3) the debtor's registered office;
4) date when the case was brought, and the name of the Court;
5) the date of the Court ruling on the legal protection process and approved the legal protection process of the action plan, and the name of the Court;
6) in case the designated administrator name and certificate number;
7) notified the administrator name, certificate number and duration of the mandate;
8) redress process set out in the action plan;
9) the legal protection process of the implementation date;
10) date when the Court approved the legal protection process for amendments to the plan, and the name of the Court;
11) the legal protection process termination date, court name, and description;
12) entry date.
Chapter VI the legal protection process of the initiation of the consequences of article 37. The legal protection process of the consequences of the proceedings (1) the Court's decision on the legal protection of the initiation of the process has the following consequences: 1) enforcement proceedings in cases of suspension of sentence, but the amount of the debtor's outstanding collection and the enforcement of judgments in cases in Court of civil law;
2 ensure the vendor) the prohibition to require the sale of the pledged property of the debtor, other than the cases referred to in the second subparagraph;

3) the prohibition to submit to the vendor entity insolvency application;
4) prevent the liquidation of the debtor;
5) penalty suppression;
6 percent increase), which exceed the legal interest, except when the Latvian Bank refinancing rate exceeds the statutory interest, because then the applicable Bank refinancing rate;
7) late (even if identified as liquidated damages) Suppression;
8) tax claim delay fee calculation.
(2) the secured creditor may require the sale of the pledged property of the debtor, if the first paragraph of this article, paragraph 2 the prohibition on causing significant harm to the interests of creditors (including the destruction of the pledged property exist, significantly diminished the value of the pledged property). The decision to allow the sale of the pledged property of the debtor in the Court which adopted the proposed redress process.
(3) the debtor is obliged to inform the bailiff whose records are things as a sentence, but the amount of the debtor's outstanding collection and things about the obligations of the Court, on the legal protection of the initiation of the process.
38. article. The legal protection process methods applicable to (1) the legal protection process applied in one or more methods: 1) the postponement of the execution of payment obligations;
2) movable property or real estate or disposal by keeping the rights to bring claims of creditors due extension of or satisfaction of the claims of creditors;
3 the debtor-Corporation-) share capital increase (capital also investing claims of creditors ' rights against the debtor);
4) debtor – reorganization of companies (article 46);
5) other methods that meet the legal protection process.
(2) the process of legal protection measures within the Group of creditors and creditors of each type (principal sum, penalty or interest) may be provided only in proportion to the percentage of principal sum, penalty or deletion or reduction.
(3) the netting is permissible, if the debtor's right of action against the creditor are having at least three months before the decision of the Court of Justice on the legal protection of the initiation of the process.
(4) the process of legal protection applicable methods can be attributed to the employee's wage claims with the consent of the employee concerned. The debtor's employee in the legal protection process does not apply to the creditor.
(5) the tax claims without the consent of the tax administration not allowed: 1) delete or reduce the principal sum;
2 the principal sum of pay) the tax Division, the extension or deferral for a period longer than six months;
3) delay reduction of more than 50 percent, or deletion;
4) reduction of more than 65 percent, or deletion;
5) current tax payments into the timeless, extension or suspension at the time.
(6) the legal protection process is prohibited to apply the methods which restrict the rights of creditors more than they need the legal protection process of the plan of measures for the implementation and success of this law that the legal protection process objective.
(7) the legal protection process methods are not applicable with regard to the legal protection process.
(8) in the second part of the proportionality principle will not be applied to tax and employee wage claims, the absence of the consent of the creditor.
39. article. The claim by the share capital or shares (1) If the principal of unsecured creditors claims are reduced by more than 10 percent, or deleted completely, those creditors have the right to ask the debtor-Corporation – to reduce the amount of the claim in or deleted are replaced with parts of a debtor's equity or shares (referred to in this article, the part).
(2) where, in accordance with the law, creditors have the right to ask the debtor-Corporation – to reduce the amount of the claim in or deleted are replaced with parts of a debtor, the debtor-Corporation – the legal protection process of the action plan provides for an increase of the share capital of the debtor, which is reduced or deleted main of unsecured creditors claims.
(3) if the share capital increase, the increase is equal to the amount of the issued share capital or greater than the share capital is increased by the amount, not exceeding the amount of the issued share capital of the existing difference between the share capital increase and reduced or deleted the main claim being considered part of the total premium.
(4) the unsecured creditors, whose main claims have been reduced to the extent referred to in this article or deleted, shall have the right within three months from the delivery of the legal protection process to acquire new shares in proportion to the extent to which is reduced or deleted in the unsecured creditor's claim in the light of the possible share premium.
(5) the unsecured creditor applying for new components, they are paid by the vendor's financial contribution, the value of which corresponds to this vendor claims reduced or deleted.
40. article. The legal protection process of the action plan (1) the process of legal protection proceedings the debtor establish process measures of legal protection plan, coordinated with the creditors in accordance with the procedure laid down in this Act and submit for approval to the Court not later than the day after the second part of this article, in particular the reconciliation deadline.
(2) the process of legal protection measures for the development and coordination of the plan, shall be two months from the date of the Court's proposed redress process. The legal protection process of drawing up the plan and consultation period may be extended by one month if it agrees with the article 42 of this law in the third part, and the majority of creditors shall be informed without delay by the Court. If the debtor remedies process for the implementation of the action plan needs to get the approval of the tax administration, the legal protection process of the action plan agreed by the tax administration of the tax laws.

(3) the legal protection process of the action plan is to ensure that the plan is not brought benefit to creditors through the legal protection process is at least as great as the case at the time of the approval of this plan would be delivered to the debtor's insolvency process.
(4) the process of legal protection plan shall specify: 1) all payment obligations of the debtor and their Foundation, with a separate indication of the debtor's payment obligations to the affiliated companies of the law "On enterprise income tax", as well as the debtor's payment obligations to the creditors;
2 the debtor's payment obligations), which are due for repayment or timed before the legal protection process started or will join the legal protection process, with a separate indication of the debtor's liabilities execution creditors have raised the claim in court, and payment obligations for which the guarantee provided by the debtor;
3) the debtor's payment obligations that are not related, but which result in a change in the composition of the assets of the debtor;
4) the debtor's payment obligations execution schedule for each vendor whose repayment or due to the legal protection process before starting or joining the legal protection process;
5) planned revenue total of the debtor protection process and planned revenue forecasts, describing the justification for the assumptions forming the basis of projected income, as well as the planned activities for the reduction of the cost of the debtor;
6) planned total debtor redress process and planned expenditure forecasts, justification, describing the assumptions forming the basis of the planned expenditure, as well as the planned activities for the reduction of expenses of the debtor;
7) the process of legal protection applicable methods, as well as justification for the need for the designated methods to achieve redress process for implementing the plan;
8) debtor's existing and planned operating activities;
9) redress process;
10 types of transactions), which the debtor may be carried out without coordination with the administrator, and this deal;
11) procedures Kreditori will be aware of the performance of the debtor, the legal protection process measures during the implementation of the plan;
12) information on administrator candidates, when this law, article 35 of the agreement referred to in the second subparagraph, as well as information about whether an administrator candidate has participated in the development of the plan;
13) the debtor of the pledged property list, which requires a process of legal protection measures for the implementation of the plan and that should, in accordance with which ensure creditors may not exercise their rights with regard to the debtor's property that serves as security for their claims until the termination of the legal protection process;
14) remuneration ensure creditor on his rights of redress process and ensure that the creditor's claim settlement payments, as well as the procedures for the payment of remuneration;
15) justification that the redress process measures not brought benefit to creditors through the legal protection process is at least as great as in the event that at the time of approval of the plan would be delivered to the debtor's insolvency process.
(5) the legal protection process in the action plan may provide benefits for persons granted funds for the implementation of this plan, according to the resources devoted to it. If the legal protection process is terminated and is declared at the legal person of the insolvency process, the resultant benefits remain valid and claims against debtor arising from this plan, funding should be considered an expense of the insolvency proceedings. The benefit granted shall not interfere with the interests of the secured creditor.
(6) the legal protection process of the action plan include: 1) statement of projected cash-flow forecast for the first year of the process, "the report items in one month intervals, but the next year, three months apart;
2) submitted by the creditor and may not objections in respect of the legal protection process measures;
3 the opinion of the administrator, if) the article 35 of this law provided for in the second subparagraph of the agreement.
(7) in comparison with other vendors, not significantly more favourable provisions for the legal protection process measures for individual vendor may provide only with the consent of the creditor concerned.
Article 41. Ensure the protection of the interests of creditors of the legal protection process (1) unless the secured creditor is not refused, for their legal protection in the process of plan provides for: 1) a procedure to be executed from the contract, the debtor's obligation to the secured creditors that the debtor has not fulfilled before legal protection proceedings;
2) current payments arising from the Treaty.
(2) expenses incurred if the legal protection process of the action plan included in the mortgaged property legal protection during the process of die or reduce its value, the costs of proceedings the secured creditor's claim for the value of the pledged property or its decay.
Article 42. The legal protection process of reconciliation action plan (1) the debtor shall refer all creditors of the legal protection process plan, inviting them to give consent to this plan and specifying its harmonisation.
(2) voting on the process of legal protection plan is going in these vendor group separately: 1) ensure that creditors provide part of the claims;
2) unsecured creditors, including secured creditors of unsecured claims.
(3) the process of legal protection plan is consistent, if it supports: 1) ensure the vendor group – they ensure creditors whose main claims consists generally in two thirds of the total claims of secured creditors, the main amounts with a signature certifying their consent;
2) Group of unsecured creditors, unsecured creditors, those whose main claims in general account for more than half of the total unsecured creditor claims, the amounts of the main, with the caption stating their agreement.

(4) if the creditor has specified the legal protection process of the action plan in the period of reconciliation has not provided a written response, considered that the creditor has not given consent to the legal protection process.
(5) the creditor is entitled to submit written objections to the debtor in respect of the legal protection process measures within five days of receiving it. Recognizing the objections filed by the debtor, pursuant to amending process of redress measures. About disregarded objections the debtor shall immediately notify the administrator if there is this law, article 35, second paragraph, the particular and attach them to the agreed process of redress measures.
(6) the creditor's rights in relation to measures of legal protection plan is not entitled to pursue reconciliation: 1) a person who falls into one group with the debtor;
2) physical persons as members have decisive influence on the debtor-Corporation;
3) persons who have acquired a right of action against the debtor of this part 1 and 2 of the persons referred to in the last two years before the legal protection process of the reconciliation plan.
(7) If a debtor in Latvia started in Council Regulation No 1346/2000 article 3 paragraph 2 of the insolvency proceedings, the legal protection process of writing the plan into line with Council Regulation No 1346/2000 article 3 paragraph 1 set out in the insolvency proceedings of the liquidator.
43. article. Administrator opinion on the process of legal protection measures (1) Before the legal protection process of approval of the plan to the Court administrator shall draw up an opinion on this plan.
(2) the Administrator shall deliver an opinion on the legal protection process of the action plan's compliance with this law, 38, 40 and article 42, as well as expressing views on those creditors expressed objections, which are not taken into account the agreed process of redress measures.
Chapter VII implementation of the legal protection process of article 44. The legal protection process prerequisites for the implementation of a debtor in respect of the implementation of the legal protection process, if: 1) the process of legal protection plan is consistent in this law and the term;
2) Court has approved the legal protection process and the action plan adopted by the ruling on the legal protection of the debtor in the process.
Article 45. The process of implementation of legal protection (1) the legal protection process of the action plan is in force from the date of its approval by the Court. The legal protection process of the action plan is mandatory, and it is also binding on creditors who have not given their consent.
(2) after it declared the legal protection process, ensure that creditors may not exercise their rights in the process of legal protection measures for the property of the debtor of the pledged to redress process termination.
(3) after it declared the legal protection process, ensure that creditors may exercise their rights in relation to the mortgaged property of the debtor that is not in the process of legal protection measures.
Article 46. Reorganization of legal protection process (1) the debtor – reorganization of the company – the legal protection process is possible only if it provides for the legal protection process of the action plan.
(2) the debtor – reorganization of companies, in accordance with the law regulating the activities of company requirements, insofar as this article provides otherwise.
(3) the debtor – reorganization process of the company, the creditors do not have the right to ask for support.
(4) the Administrator, creditor and debtor, company-participant (shareholder) may submit an application to the Court to declare void the debtor-companies-participants (shareholders) meeting decision on reorganization, if it passed, the violation of this law, or does not meet the legal protection process of the action plan.
(5) in the fourth paragraph of this article, the above application in court, which approved the legal protection process of the action plan.
(6) the legal protection process cannot apply a reorganisation, which resulted in the debtor ceases to exist, other than the conversion of the debtor.
47. article. The process of legal protection measures for amending the legal protection process of the plan amendments, debtor compliance with the vendors of this law in accordance with the procedure laid down in article 42, and together with the opinion of the administrator, approval of the Court.
48. article. The legal protection process (1) the time limit for the implementation of legal protection period for the implementation of the process would be no longer than two years from the date of entry into force of the Court judgment on the legal protection process.
(2) referred to in the first subparagraph may be extended for a further two years if it agrees with the article 42 of this law the third part vendor. In this case, the debtor shall apply article 47 of this law, the provisions on redress process to amend the plan.
49. article. The debtor's conduct restrictions and obligations (1) the legal protection process during the implementation of the debtor is prohibited from: 1) enter into any transactions, or to engage in activities that might degrade his financial situation or be detrimental to the interests of creditors generally;
2) issued loans (credits), except when the issue of loans (credits) is the core business of the debtor, and it recorded the legal protection process of the action plan;
3) give guarantees to give or donate, to grant the debtor's Board and Council members bonuses or other financial compensation of additional;
4) disposed of or encumbered with rights in rem of immovable property, except when it is provided for the legal protection process of the action plan;
5) break down and pay the dividends profit;
6) to fulfil the financial commitments that are not included in the legal protection process of the action plan.

(2) the debtor, in coordination with the administrator, in writing and without an amendment of the legal protection process measures can perform the payment obligations (bill pay), which are not included in the process of legal protection measures if these payments the legal protection process during the implementation of the total does not exceed two percent of the total amount of the claims of creditors of the legal protection of the process of approval of the plan at the moment.
(3) the legal protection of the debtor in the proceedings is obliged: 1) fulfill the legal protection process of the action plan;
2) all revenues be diverted to redress process;
3) to cover the costs of legal protection;
4) not less than once a month to report in writing to the administrator about the legal protection process of the implementation of the measures;
5) after the request of the administrator in writing without delay to give him all the information about the legal protection process of the implementation of the plan of action and to provide the opportunity to examine the debtor onsite, business operation and documents;
6) to report to the administrator immediately of any circumstances that the debtor will not be able to fulfil the legal protection process of the action plan;
7) notify administrator about its legal address change and any other changes that the public registers to record;
8) to report every significant administrator about the event the debtor's operations.
50. article. Administrator actions redress process (1) in order to ensure the legal protection process legitimate and effective manner, the administrator shall conduct performance monitoring of the debtor according to the legal protection process, the objective of the legal protection process of the action plan and the requirements of the law.
(2) the Administrator after the Court ruling handed down concerning the legal protection process implementation: 1) for the fulfilment of the obligations, if necessary, submit to the relevant public registers an application for insolvency marks the recording;
2) five days after the ruling handed down concerning the legal protection process of implementation, submit to the competent authority, which manages the insolvency register, confirm the legal protection process of the action plan;
3) five days after the decision of the Court on the legal protection of the process of approval of the amendment to the plan shall be submitted to the responsible authority, which manages the insolvency register, the Court approved the legal protection process amendments to the plan;
4) monitor the process of measures of legal protection plan;
5) requested and received from the debtor of all the news about the progress of legal protection;
6) inform the creditors, at the request of the legal protection process of the implementation of the measures and examine complaints;
7) in the cases referred to in this law shall immediately submit the application to the Court for the termination of the legal protection process, adding it needs.
(3) the Administrator's decision on a vendor complaints submitted concerning the legal protection process action plan and its implementation, may be challenged in court, in which the proposed redress process.
51. article. The legal protection process termination (1) a court shall terminate the legal protection process, if: 1) the process of legal protection measures in accordance with the procedure laid down in this Act and the term is not supported by this law, the third paragraph of article 42 in the majority of creditors;
2) redress process action plan does not meet the requirements of this law.
(2) the Court shall terminate the legal protection process and declare the legal person of the insolvency proceedings, the debtor in respect of the year for the second time, proposed the legal protection process thing, but have not declared the legal protection process.
(3) the Administrator is obliged to submit to the Court the legal application of personal insolvency, while asking for an end to the legal protection process, if: 1) in implementing the legal protection process, the debtor has not taken the steps set out in this law, or has provided false statements;
2) for more than 30 days, the debtor does not comply with the legal process of protection measures and the Court has not submitted the amendments to the plan;
3 the debtor is in breach of this law) certain actions.
(4) the debtor shall submit an application to the Court for redress process termination, if has fulfilled the legal protection process of the action plan.
(5) the debtor shall submit an application to the Court for insolvency, while asking for an end to the legal protection process, if not able to settle the legal protection process of the action plan commitments (article 57, paragraph 9).
(6) no later than five days after the Court ruled on the legal protection process termination, the administrator shall send a copy of that decision: 1) the public register by adding the application entry for insolvency marks the deletion;
2) the bailiff, which records the performance of things located on the sentence, but the amount of the debtor's outstanding collection and things about the obligations of the debtor in court.
(7) in the sixth paragraph of this article shall not apply if the legal protection process terminated, declaring insolvency legal person.
52. article. Process termination of legal protection (1) the legal protection process termination by the legal protection process of executing the plan is the basis for the legal protection process established in the debtor's possession limit and in the process the appropriate method of termination.
(2) If the legal protection process of the action plan in accordance with the procedure laid down in this Act and the term is not supported by this law, the third paragraph of article 42 in the majority of creditors and legal protection proceedings, article 37 of this law, the prohibition referred to in the end and stopped the penalty, interest and late payment for outstanding commitments is calculated in full.
Chapter VIII out-of-court redress process article 53. Out-of-court redress process (1) the debtor shall have the right to simultaneously apply for redress process initiation and ask the Court to declare the implementation of a process of redress, if the following conditions occur: 1) the debtor has developed a process of redress measures according to this law, and article 38.40;

2) process of legal protection measures are coordinated by this law, the third paragraph of article 42 in the majority of creditors;
3) the debtor shall be agreed with the administrators and creditors for out-of-court redress administrator;
4) the debtor has received the administrator's opinion (article 43);
5) debtor the agreed process of legal protection plan is sent to those creditors who have not brought the plan, at the same time as it is submitted for approval to the Court.
(2) extra-judicial redress process apply rules of law, where this chapter provides otherwise.
(3) the process of legal protection measures for out-of-court redress process should not affect the interests of the tax administration, if the implementation of the plan requires the agreement of the tax administration (article 38).
54. article. Administrator of out-of-court redress process (1) the Administrator of an out-of-court redress process shall be appointed by the Court after the advice of the debtor.
(2) the debtor and his creditors ' agreement on the choice of an administrator (article 53 of the first subparagraph of paragraph 3) is achieved if out-of-court redress process measures are coordinated by this law, article 42 referred to in the third subparagraph of the majority of the creditors.
55. article. Out-of-court redress process for approval of the plan, the consequences of this law and article 45 37. consequences listed in there after the Court has approved the out-of-court redress process plan.
(C) a section of a legal person insolvent process of chapter IX of the insolvency process of a legal person, the General provisions of article 56. Legal persons subject to insolvency proceedings the insolvency process of a legal person shall apply to legal persons, partnerships, individual merchant, persons registered abroad, carrying out permanent economic activity in Latvia, and in this statutory special entities (referred to in this section, the debtor).
57. article. The insolvency process of a legal person signs for the debtor, the insolvency process of a legal person, if there is any of the following legal entity insolvency signs: 1) applying means of enforcement, it has not been possible to execute a court order for recovery of the debt from the debtor;
2) debtor – a limited liability company or joint stock company – is not passed one or more debts, of which the principal sum amount separately or together exceed 3000 dollars and which have fallen due, and the creditor or creditors have issued or sent to a debtor's legal address, sender paid warning of its intention to submit a legal application of personal insolvency and debtor within three weeks after the transfer of mail alerts the operator has not paid a debt or not brought reasoned objections to the claim;
3) debtor – another 56 this law entities referred to in article – is not passed one or more debts, of which the principal sum amount separately or together exceed 1500 dollars and which have fallen due, and the creditor or creditors have issued or sent to a debtor's legal address, sender paid warning of its intention to submit a legal application of personal insolvency and debtor within three weeks after the transfer of mail alerts the operator has not paid a debt or not brought reasoned objections to the claim;
4) the debtor has not fully honoured the employee pay, damages due to accident at work or an occupational disease or has not made social security payments within two months from the date set for payment. If the contract does not specify the cost of the pay day, it is considered that this day is the first working day of the following month;
5) the debtor could not settle the debt for which the due date;
6) in accordance with the start of the liquidation of the debtor of the financial statements is not enough assets to satisfy all justified claims of creditors or that circumstance reveals the course of liquidation;
7) has timed 51. this law referred to in the second subparagraph of article circumstance;
8) is the one of this law, article 51 of the cases referred to in the third subparagraph;
9) has timed this law, article 51 in the fifth part of this circumstance.
58. article. Legal entity insolvency things publicity in the body responsible for the insolvency register, legal person of the insolvency proceedings, record the following information: 1) the debtor company (name);
2 the registration number of the debtor);
3) the debtor's registered office;
4) date when the declared entity insolvency proceedings in court, and the name of the Court;
5) in case the designated administrator name and certificate number;
6) notified the administrator name, certificate number and duration of the mandate;
7) Council Regulation No 1346/2000 article 3 set out in paragraph 1 involved in insolvency proceedings the liquidator's first name, last name, practice address and telephone number;
8) vendor application deadline;
9) vendor meeting venue address, date and time;
10) type of insolvency proceedings in accordance with the Council Regulation No 1346/2000, article 3, paragraph 1 or 2;
11) legal entity insolvency termination date, court name, and description;
12) property sales plan submission date;
13) entry date.
Article 59. The appointment of the administrator of the legal entity insolvency proceedings (1) the Administrator of a candidate for a particular legal entity insolvency proceedings and the Court recommends that the choice of insolvency administration.
(2) the proposal of the administrator-designate of the legal person of the insolvency process insolvency administration sent financial and capital market Commission, if the applicant recommends that financial and capital market participants for supervision in compliance with legislative requirements, financial and capital market Commission.
(3) legal persons in which the insolvency proceedings handed down contemporaneously with the legal protection process termination, the administrator shall continue to perform the duties of an administrator, who is appointed by the legal protection process.

(4) If a meeting of creditors to cancel the proposed insolvency administration recommended and the court-appointed administrator, creditors meeting designated Representative recommends the Court article 90 of this law, in the third paragraph in the order at a meeting of creditors support the administrator candidate. If the creditors ' meeting is not reached on a new candidate for administrator, insolvency administration selects and recommends to the Court administrator designate a specific legal person of the insolvency process.
Chapter x legal entity insolvency application article 60. Who can submit a legal person of the insolvency application (1) a legal person of application for insolvency proceedings in the cases provided for in this Act may be submitted to the Court: 1) a vendor or vendor if you have any of this law, article 57 1, 2, 3, or 4 for legal persons referred to in the insolvency process indications;
2 the debtor, if there is one) of this law, article 57, paragraph 6 or 9 legal entities referred to in the insolvency process indications;
3) Council Regulation No 1346/2000 of 29 specified in paragraph "a" person to the debtor against the proposed article 3 of this regulation set out in article 2 of the insolvency proceedings;
4) administrator, if this law article 57 referred to in point 8.
(2) the legal personal insolvency application according to this law, article 57, paragraph 4 of the insolvency practitioner can submit employee characteristics that are, or have been, working relationship with the debtor.
(3) the debtor is obliged to submit the legal person's insolvency application, if there is any of this law, article 57, paragraph 6 or 9 legal entities referred to in the insolvency process. If there is this law, article 57, paragraph 5 of the sign, the debtor is obliged to submit a legal application of personal insolvency in cases where it is not possible to reach agreement with creditors or propose the legal protection process. If there are article 57 of this law referred to in paragraph 9, a sign, the debtor is obliged to submit a legal application of personal insolvency in cases where it is not possible to amend the legal protection process of the action plan.
(4) the legal personal insolvency application submitted to the Court in the civil procedure law.
61. article. Restrictions on legal persons filing of insolvency proceedings (1) the legal personal insolvency application may not be submitted to the secured creditor.
(2) if the claim is not fully ensured, the secured creditor is a legal person of application proceedings may submit only a part of the unsecured claim.
(3) the secured creditor is Not entitled to submit the legal person's insolvency application, if the debtor is proposed or implemented in the legal protection process.
62. article. Legal deposit of personal insolvency (1) legal persons filing of insolvency proceedings is insolvency legal person deposits a contribution the minimum monthly salary of about two insolvency administration specially created account.
(2) the legal deposit of personal insolvency process is intended to cover the legal costs of the insolvency of the person, if the debtor has no property and creditors have decided to use other sources of financing.
(3) the Deposit is to be used, if the debtor has no property and legal persons of the insolvency proceedings are terminated, on the grounds that the creditors have decided to use other sources of financing.
(4) if the legal person of the insolvency proceedings shall not be given or the creditors decides to continue the legal personality of the insolvency process, refundable deposit of legal entity insolvency proceedings the applicant.
(5) legal persons deposits in the insolvency proceedings of a legal person the insolvency process the applicant will not be reimbursed in the following cases: 1) the legal personal insolvency application was unfounded or knowingly false.
2 vendor, receive their) claim satisfaction, nor legal persons the application of insolvency proceedings and the Court holds the legal person of the insolvency proceedings.
(6) in the fifth subparagraph of this article, in the cases specified in the deposit lodged in favour of the State.
(7) No deposit contributions are released by the administrator who submitted the legal person of the insolvency application under article 57 of this law, point 8.
(8) the cabinet shall determine the order in which the legal entity insolvency deposit payable to insolvency administration specially created account and payable to insolvency proceedings the legal person applicant, the administrator or the Treasury.
Chapter XI bankruptcy proceedings the legal person of the consequences of article 63. Legal person of the insolvency, the consequences of the Declaration (1) By legal persons declaring insolvency proceedings: 1) the debtor loses the right to handle all their belongings, as well as with her owned or held by the existing property belonging to third parties, and this right is obtained by the administrator;
2) debtor's management bodies are suspended, and administered by the administrator of the debtor;
3) stops lending (loan) interest, statutory penalty interest increase in growth (including the percentage increase in the penalties), late growth (even if identified as liquidated damages; the tax claims are stopped they delay calculation, which is determined as a percentage of the payment of taxes, fees and fines payment time delay);
4) ensure the vendor that two months after the legal person of the date of insolvency proceedings is forbidden to ask the debtor pledged sales.
(2) If enforcement proceedings initiated before legal persons declaring insolvency, it is terminated by the civil procedure law. After the insolvency process of a legal person the creditor applying for the claims administrator in accordance with the procedure laid down in this Act.
(3) the debtor's obligation, which occurs after the due date of the declared insolvency proceedings the legal person shall be presumed, which due to the legal person of the date of the insolvency proceedings.

64. article. Administrator privileges after the entity declaration of insolvency proceedings (1) the legal entity insolvency Declaration: 1) administrator has all the law, the statutes or contracts of the debtor for the governing body of the rights, duties and responsibilities;
2 administrator decides on the debtor's) economic activity, the continuation of the full or limited, if the continuation of this activity is economically justified, or for its termination;
3) administrator regular payments of taxes and duties prescribed in laws and regulations;
4) administrator, if necessary, submit to the relevant public registers an application for insolvency marks the recording or deletion, adding the Court's decision on the appointment of the administrator.
(2) If a debtor in another Member State started in Council Regulation No 1346/2000 article 3 set out in paragraph 1 of the insolvency proceedings and the liquidators involved works in Latvia, without this regulation article 3 paragraph 2 set out in the insolvency proceedings, Council Regulation No 1346/2000 article 3 set out in paragraph 1 involved in insolvency proceedings the liquidator shall ensure that the relevant legal entity insolvency proceedings the competent persons and institutions can be submitted duly certified copy of the judgment on the legal personality of the insolvency proceedings and the appointment of a liquidator as well as the certified translation of this ruling in the national language.
Article 65. Administrator responsibilities after the insolvency process of a legal person is rendered By legal persons declaring insolvency administrator: 1) shall decide without delay on the debtor's representative or representatives of legal persons the determination of insolvency proceedings and submit this decision to the Court of Justice, as well as send a representative or representatives of the debtor;
2) immediately initiate the document property of the debtor and a full inventory and draw up a balance sheet of the debtor;
3) adopt, register and check the claims of creditors;
4) immediately take your society all the debtor's property, as well as the debtor owned or held by the existing third party-owned assets;
5) in accordance with the procedure laid down in this Act, and within prescribed periods provide creditors and insolvency administration review of its operations;
6) recover the receivables and take other legal action to regain the property of the debtor;
7) legislation in the cases and in the order directed the application of insolvency administration of employee recovery of employee claims guarantee fund. The Cabinet of Ministers shall determine the amount of remuneration of the administrator of the employee filing the claims and the order in which it is payable;
8) assessed and legal proceedings against legal persons and to the members of the administrative organ, the Corporation's members (shareholders) for their consideration for damage, as well as partnerships personally responsible members in connection with their duties with his answer on the partnership liabilities;
9) require that the debtor's members (shareholders) to fulfil its obligations with respect to the debtor's assets or other property, and submitted to the Court a claim for such obligations;
10) if the financial and capital market transactions surveillance in accordance with legislative requirements, the financial and capital market Commission, at least once a year in writing inform known creditors of the legal person of the insolvency proceedings, sending an individual notice to those creditors whose domicile or registered office is abroad, as well as notification of Insolvency administration;
11) provides the sales plan of the property of the debtor in property evaluation;
12) submitted an application for court bailiffs enforcement in cases of termination of the proceeding sentence, but the amount of the debtor's outstanding collection and matters of judicial obligations;
13) carry out other duties prescribed in this Act.
66. article. Duties of the administrator in insolvency proceedings initiated under Council Regulation No 1346/2000 (1) If a debtor in another Member State started in Council Regulation No 1346/2000 article 3 set out in paragraph 1 of the insolvency proceedings, article 22 of the regulation referred to in paragraph 2, the person, making Latvia the operations associated with the debtor for the recovery and disposal, inform the relevant public registers on insolvency proceedings against the debtor. Information is added properly certified copy of the decision on the opening of insolvency proceedings against the debtor and Council Regulation No 1346/2000 article 3 set out in paragraph 1 involved in insolvency proceedings, as well as the appointment of a liquidator in a certified translation of the judgment in the language of the country.
(2) If a debtor in another Member State started in Council Regulation No 1346/2000 article 3 set out in paragraph 1 of the insolvency proceedings and the debtor in Latvia belongs to the company article 2 of this regulation, the "h" point within the meaning of Council Regulation No 1346/2000, article 21, paragraph 2 that person five days from the date of the article 3 of this regulation set out in paragraph 1 of the insolvency proceedings, the liquidator started participating in activities related to the debtor company's property recovery and disposal When applying for a debtor's insolvency proceedings, the legal person of the responsible authority, which shall make entries in the register of insolvency. The application shall state: 1) the debtor company and the registration number;
2 the name of the Court and the ruling) date of adoption;
3) Council Regulation No 1346/2000 article 3 set out in paragraph 1 involved in insolvency proceedings the liquidator's first name, last name, practice location, and phone number;
4) the fact that the debtor commenced Council Regulation No 1346/2000 article 3 set out in paragraph 1 of the insolvency proceedings;
5) Member State whose legislation is applicable to the opening of insolvency proceedings, and termination.
(3) if the debtor in another Member State started in Council Regulation No 1346/2000 article 3 set out in paragraph 1 of the insolvency proceedings, article 21 of this Regulation referred to in paragraph 1, the person performing the activities related to the recovery of property of the debtor and the seizures in Latvia have the right to submit an application to the authority responsible for the insolvency registry entry, specify the information referred to in the second subparagraph.

(4) If a debtor in Latvia started in Council Regulation No 1346/2000, article 3, paragraph 1 or 2 set out in the insolvency proceedings, the administrator within five days after the Declaration of insolvency of the debtor send the creditor who has his domicile or registered office is in another Member State, the notification of the debtor's insolvency and creditor claims lodged under that regulation. In addition to the notification specifies: 1) the debtor company and the registration number;
2 the name and) the Court judgment day;
3) administrator name, practice location, and phone number;
4) initiated proceedings in accordance with the Council Regulation No 1346/2000, article 3, paragraph 1 or 2;
5) Member State whose legislation is applicable to insolvency proceedings, execution and termination;
6) that the creditor's claim to include information on whether the claim is secured by a right.
(5) If a debtor in Latvia started in Council Regulation No 1346/2000, article 3, paragraph 2, set out in the insolvency proceedings, the administrator shall cooperate with the paragraph 1 of article 3 set out in the insolvency proceedings, the liquidator at the request of the liquidator in insolvency administration provides the necessary information, including information on the debtor's property, located in Latvia, about the planned or intended operations gear retrieval and disposal on the creditors the recognised and non-recognised, vendor claims and complaints due to the claims of the vendor grouping, satisfied the creditors, creditors ' meetings, Council Regulation No 1346/2000 article 3, paragraph 2, set out in the insolvency procedure, solutions and activities, the Division of property and cash surplus.
(6) If a debtor in Latvia started in Council Regulation No 1346/2000 article 3 set out in paragraph 1 of the insolvency proceedings, the administrator keeps track of this regulation, article 3 (2) in another Member State against the debtor in insolvency proceedings initiated in nature and, if necessary, request information from article 3 of the said regulation is set out in paragraph 2 are involved in insolvency proceedings, the liquidator in the liquidator shall inform about other person against the debtor article 3 of this regulation to those laid down in paragraph 2 of the insolvency proceedings and the procedure of essential aspects.
Article 67. Administrator rights after a legal declaration of personal insolvency Administrator for legal persons declaring insolvency proceedings in addition to this statutory general administrator permissions has the following rights: 1) dispose of property of the debtor in the form prescribed in this Act;
2) remove the debtor's subsidiary or representative office;
3) put to the Court for review of any claim of the debtor;
4) to insure transactions of the debtor and the debtor's existing assets;
5) without special authorisation to draw up and sign on behalf of the debtor for any document;
6) appoint officers of the debtor's management work and determine their competence, hire and fire employees, including those who are recruited before the insolvency proceedings the legal person of the Decree;
7) to cover the legal costs of personal insolvency (168. the third part of the article);
8) rent (rent) of any property of the debtor, as well as to rent (rent) of any property, if it is in the interest of the creditors;
9) refuse any claim or close any settlement in the name of the debtor in relation to the debtor's claims against third parties;
10) for any of its third party legal entity insolvency proceedings for a declaration of invalidity, which has a debt against the debtor and the debtor's claims to represent, if the application is declared insolvency of the legal person;
11) change of the debtor's registered office address;
12) require the creditor to prove its claim and the supporting documents translation national language;
13) call upon specialists, to ensure effective and legitimate legal entity insolvency proceedings, and with the agreement of the creditors ' meeting to cover the associated costs of the debtor or other legal entity insolvency proceedings;
14) ask the bailiff to cancel the auction if the advertised property of the debtor in the case of the planned sale to the communion.
Chapter XII the debtor's representative and the interested parties in respect of a debtor article 68. A representative of the debtor (1) the Administrator determines that the debtor's representative participation in insolvency proceedings is mandatory in the following order: 1) Executive Member who is entitled to represent the debtor;
2) another Member of the Executive Body;
3 the supervision authority);
4 other institutions monitoring);
5) participant (shareholder), which has the largest number of votes.
(2) the debtor's representative in the determination of this partnership, which has a right of representation, but, if not, the Member that has the records.
(3) the Administrator may impose on debtor's representative to another person, if it can bring in the legal particulars of the debtor and his or her performance and the first and second subparagraphs to specific persons for objective reasons cannot provide the above information.
(4) if the debtor's representative of an objective reason not able to fulfill the obligations of the debtor's representative to be other person referred to in this article.
(5) a decision on the establishment of a representative of the administrator of the debtor shall forthwith forward to the Court.
(6) the Administrator can not decide on a new determination of the representative of the debtor, if the debtor's representative is dead and it is not possible to determine the other debtor's representative.
(7) the decision of the representatives of the debtor's determination may be appealed to the Court, the person who is appointed as the debtor's representative. The complaint is to be lodged within three weeks from the day on which the party concerned became aware of the decision.
Article 69. Representatives of the debtor's rights of the debtor's representative has the following rights: 1) familiarize themselves with the creditors and the administrator to make objections to them;
2) to request and receive news about the sale of the property of the debtor;
3) to participate in the meeting of creditors and meet its Protocol;
4) request that the administrator shall convene a meeting of creditors in the manner set out in this law;
5) to draw up the legal protection process of the action plan;

6) in accordance with the procedure laid down in this Act to make a complaint about a meeting of creditors or the administrator's decision or legal action.
70. article. Representatives of the debtor's obligations (1) the debtor's representative shall be obliged to attend all meetings of the creditors and the Court, to which he invited, as well as provide your available particulars of the debtor.
(2) a representative of the debtor to the acceptance and transfer of the Act shall be referred to the administrator all the debtor's organisational, personnel and accounting documents, orders, inquiries, reports, and correspondence, as well as stamp and the stamp of the debtor within the time limit set by the administrator, which may not be less than 10 days after the onset of insolvency proceedings the legal person of the Decree. Representatives of the debtor's obligation is to prepare to be the property of the debtor and the list of documents.
(3) if the debtor is a legal person, a representative of the insolvency process of transfer of residence, he/she will be obliged to notify the administrator and the Court to address the new place of residence.
71. article. The debtor's obligation to provide information of a representative of the administrator and the Court (1) a representative of the debtor's obligation, the Court or the administrator requested the particulars of the debtor to provide immediately, but not later than 10 days after the date of the request.
(2) if the debtor's representative does not have the information requested, he shall forthwith inform the administrator or the Court, indicating the reasons why this message is not in his possession.
(3) the debtor's representative requested or the notification that he may not be requested in writing messages, authenticated by the signature.
(4) if the administrator by registered mail to the debtor's place of residence address of the representative sent a request to provide information, it is considered that the debtor's representative this request is received on the seventh day after the ship and its contents is known to him.
72. article. Interested parties in respect of a debtor (1) for the interested parties in respect of a debtor to be recognized the following persons: 1) the debtor's members (shareholders) or a partnership, the members of the members of the administrative organ;
2 prokūrist and komercpilnvarniek);
3) person, consisting of a debtor, the founder members (shareholders) or a partnership, the members of the governing body members in marriage, kinship or affinity up to the second degree;
4) vendor that is located in the same group as the debtor.
(2) The interested parties in respect of a debtor the person mentioned in this article is to be recognized if they had this status in the last five years before the legal person of the date of the insolvency proceedings.
Chapter XIII, article 73 of the claims of creditors. The claims of creditors (1) submission of claims of creditors against a debtor shall be made an administrator one month from the date of entry in the register of the insolvency of the debtor's insolvency proclamation.
(2) if the vendor missed the first paragraph of this article claims, the submission of his claim against the debtor may be filed within a time limit not exceeding six months from the date of entry in the register of the insolvency of the debtor's insolvency proceedings for a declaration of invalidity, but no later than the date on which this law is drawn up in the satisfaction of claims of creditors. After this period the creditor loses the status of creditors and their claims against the debtor.
(3) if the vendor missed the first paragraph of this article claims submission deadline, but submitted his claims within six months of the date of the insolvency registry entry on the debtor's insolvency proceedings for a declaration of invalidity, but no later than the date on which this law is drawn up in the accounts payable recovery plan, the creditor will be included in the register of claims of creditors, however, are not assigned for this vendor for the right to vote.
(4) a vendor in your application specifies: 1) the grounds for the claim;
2) the nature of the claim;
3) claims, separately stating the main claim and the amount of blakusprasījum;
4) timing of the claim;
5) or vendor to be recognized as stakeholders in this law, within the meaning of article 72;
6) contact information, including your electronic mail address;
7) bank account number.
(5) the secured creditor, in applying for the creditor's claim, indicates the extent to which a claim is secured.
(6) the application shall be accompanied by documents supporting the claims. In exceptional cases, when the number of documents supporting significantly complicates the submission of the claim, the creditor before the submission of the claim, in agreement with the administrator may submit supporting documents not derivatives, if the debtor has a claim and supporting documents between the debtor and the creditor is on the right.
(7) If a debtor in Latvia started in Council Regulation No 1346/2000, article 3, paragraph 1 or 2 set out in the insolvency proceedings, the debtor the creditor who has his domicile or registered office is in another Member State, shall provide the creditor's claim. The claim indicates that regulation 41. and in article 42. Creditor's claim of foreign currency conversion in lats by the administrator in accordance with the Bank of Latvia exchange rate set by the legal person of the date of the insolvency proceedings.
(8) If a debtor in Latvia started in Council Regulation No 1346/2000, article 3, paragraph 1 or 2 set out in the insolvency proceedings and the administrator of this procedure in the interests of the creditors shall submit the claims of creditors in another Member State against the debtor in insolvency proceedings initiated before the submission of the claim, he shall send to each creditor a notice asking you to accept the creditor's claim for submission to another procedure. If the vendor within three weeks after the dispatch of the communication has not provided a written response, the administrator considered that he declined the offer to submit his claims in another procedure. If the administrator has not informed the creditor, the creditor is entitled to withdraw his interest claims submitted by administrator recall. Administrator reference vendor claims within two weeks after receipt of the cancellation.

(9) the insolvency administration implementing the right of action in respect of the repayment of funds granted, who paid from State budget funds to meet claims of employees. In pursuing claims for recovery of employees paid in the amount of funds, the administrators are not subject to this law, the provisions on the submission of claims of creditors and the creditors of the recognition or non-recognition.
(10) the claims of the Administration to reimburse the employee for the recovery of funds assigned to the entry in the register of claims of creditors when insolvency administration has paid the employee the amount allocated to the recovery.
74. article. The claims of creditors (1) the Administrator shall check the validity of the claims of creditors and compliance with legislative requirements.
(2) If the creditor's claim does not meet the requirements of the law, including the creditor's claim is not specified in article 73 of this law in the fourth part, the administrator shall immediately forward the request to the vendor within five days from the date of dispatch of the request by the administrator to address identified deficiencies. If the creditor's claim is not specified in article 73 of this law, the fourth part specified in point 6, the administrator shall promptly transmit the request to the vendor within 10 days from the date of shipment to the postal operator to remove the identified deficiencies. If the creditor corrects the deficiencies within that period, it is considered that the creditor's claim is filed within the time limit. If the vendor does not eliminate the deficiencies in the prescribed period, the administrator shall take a decision on non-recognition of the claim of the creditor or partial recognition of the five days of the deficiencies within the current deadline.
75. article. The Administrator's decision on creditors (1) After examination of the claims of creditors, the administrator shall adopt a decision on the recognition of the claim of the creditor without recognition or partial recognition. The administrator fully or in part, does not recognize the creditor's claim, for which there is a dispute between the debtor and the creditor.
(2) the creditor's claim, established by a court order, the administrator may not recognize or partially admit only if there is evidence that after the entry into force of the judgment debtor of the obligations fulfilled wholly or in part.
(3) the arbitration award for legal effects in terms comparable to the Court ruling, if it is issued by a court injunction added.
(4) if the administrator is not acknowledged by the vendor's claim, the claim after the expiry of the time limit for appeal is excluded from the claims of creditors of the registry. The creditor's claim is not excluded from the claims of creditors if the registry administrator's decision is appealed. Until the complaint has been examined by the Court, the creditor's claim is included in the register of claims of creditors, but this vote does not assign to the vendor.
(5) the Administrator's decision on non-recognition of the claim of the creditor or partial recognition within three days after its adoption will be sent by mail to the creditor in question, and post the form by registered mail. It is considered that the addressee has received the relevant decisions on the seventh day of service at the post office. If in doubt, the administrator must demonstrate when post released a postal operator.
(6) a decision on the recognition of the claim of the creditor without recognition or partial recognition of the administrator adopted within seven days after receipt of this claim. The decision on the claim of the creditor of the debtor employee recognition, recognition or partial recognition of the administrator adopts, within 15 days after the receipt of the claim.
(7) if the claim filed by creditors, the deadline for a decision on the recognition of the claim of the vendor without recognition or partial recognition of the administrator adopted not later than 15 days after receipt of the claim of the creditor.
(8) if the administrator acquires newly discovered circumstances or documents about vendor claims for which a decision has been taken already, administrator, this decision shall have the right to amend or cancel, but not later than the date on which this law is drawn up in the satisfaction of claims of creditors. Removing the original decision, the administrator adopts a new decision in accordance with the procedure laid down in this article, pursuant to article 73 of this law establishes the time limit for claims of creditors.
76. article. Decision on the unsecured creditor status ensure creditor after the sale of the pledged property (1) If the sale of the mortgaged property, the debtor received a sum of money which is not covered by the claims of secured creditors, the creditors after the administrator's decision not to cover part of the claim is obtained without the secured creditor status.
(2) if the secured creditor of its claims, the administrator submitted the article 73 of this law in the first part, ensure that the time limit referred to in the claim does not cover vendor that subparagraph to be granted voting rights in article 87 of this law.
(3) the Administrator's decision not to cover separately the main claims and outstanding blakusprasījum.
(4) the decision of the administrator adopted and sent to the vendor within five days from the date on which the creditor transferred funds obtained from the sale.
77. article. Grouping of claims of creditors the Administrator distributes the claims of creditors presented by two of the following groups: 1) the claims of creditors;
2) claims of unsecured creditors.
78. article. The claims of creditors (1) the Administrator shall keep a register of claims of creditors.
(2) the claims of creditors the administrator entry in the register the following particulars: 1) the vendor (name) or the company name, registration number, or social security number, contact information, who signed up for the creditor's claim;
2) mark on the creditor's claim for the recognition or non-recognition;
3) the creditor's claim is based;
4) when the creditor's claim;
5) the creditor's claim;
6) the amount of the creditor's claim (the main claim and the amount of blakusprasījum);
7) vendor number of votes at a meeting of creditors.
(3) the Administrator, within seven days after this law, article 73, first paragraph, the end of the period set in accordance with the procedure laid down in this Act sends the creditors and the debtor's representative claims of creditors.
(4) the Administrator within five days shall notify the creditors that have made changes to the claims of creditors.
Article 79. Entitled to consult the register of claims of creditors

(1) any person who has submitted a claim of the creditor, the debtor's insolvency administration and the representative has the right to consult the records of the claims of creditors.
(2) every creditor who filed a creditor's claim, and a representative of the debtor is entitled to inspect the claims of creditors and the validity of the evidence, starting with the eighth day after the submission of the claims of creditors.
(3) in the second paragraph of this article, rights may be invoked against the debtor in another Member State in the Council Regulation No 1346/2000 article 3 set out in paragraph 1 involved in insolvency proceedings the liquidator, but this regulation article 3 paragraph 2 set out in the insolvency proceedings the liquidator involved in – only if the interests of the creditors, he submitted the claims of creditors.
80. article. Complaints concerning the recognition of claims of creditors without recognition or recognition of partial (1) vendor is entitled to appeal to the Court administrator's decision on their claim without recognition or partial recognition of two weeks from the date of receipt of this decision.
(2) the vendor is entitled to appeal against a court decision on the other administrator, creditor's claim of recognition no later than three weeks after the submission of the claims of creditors. If the creditor's claim filed after the period for submission of claims of creditors by the end, the vendor is entitled to appeal against a court decision on the other administrator, creditor's claim of recognition no later than one month after the date of the decision.
(3) a representative of the debtor is entitled to appeal to the Court administrator of the decisions approved of the deal claim that resulting in the debtor's representative does not recognise, not later than three weeks after the submission of the claims of creditors. If the creditor's claim filed after the period for submission of claims of creditors by the end, a representative of the debtor is entitled to appeal to the Court administrator of the decisions approved of the deal claim that resulting in the debtor's representative does not recognise, not later than one month after the date of the decision.
(4) complaints concerning the recognition of claims of creditors without recognition or partial recognition may be submitted to the Court, which handed down the appropriate insolvency proceedings.
(5) a creditor or the debtor's representative can ask the Court to renew the complaint if the procedural time administrator's fault, it has not been possible to submit an appeal within the time limits laid down in this law.
Chapter XIV information to the Creditors of the obligation of article 81. Vendor information obligations (1) the legal person of the insolvency process of effective and legitimate of the administrator in the manner set out in this law shall report to the creditors of the debtor: 1) sales plan;
2 the property of the debtor) of the company;
3 the amount of remuneration) administrator;
4) legal entity insolvency proceedings;
5) satisfy the claims of creditors;
6) intention to waive the claims;
7 the intention to conclude a court settlement);
8) intention to perform the assignment of the claim.
(2) the Administrator shall report to the creditors on the other issues that are of importance to the legal person's insolvency proceedings.
(3) where this Act provides otherwise, an administrator provides information for vendors to design the document electronically pursuant to legislation established electronic document design requirements.
Article 82. The responsibility of the vendor to turn to administrator if creditors have reservations about this law referred to in article 81 posts, they are obliged to report it to the administrator, within three days after receiving this message, if this law provides otherwise.
83. article. Administrator action after receipt of the objection of creditors if the law provides otherwise, after the receipt of the objection of the creditors of this law, the particulars referred to in article 81 of the administrator assess the merits of the objection, and if the opposition: 1) are taken into account, take the appropriate changes and communicate them all vendors;
2) if the opposition is not taken into account, provided the creditor motivated response.
84. article. Rights of creditors if the creditor does not agree with the decision of the administrator reported, they have the following rights: 1) propose the convening of the meeting of creditors under this Act article 88 2 of the first subparagraph of point "a" and "b") (conditions, to decide the law referred to in article 89;
2) contest administrator action in this law;
3) apply to the Court with a claim against administrator for any loss.
85. article. Administrator activity report (1) the legal person of the insolvency administrator announced each quarter shall prepare and electronically sent to the creditors and insolvency administration review of its operations.
(2) Administrator activity report form and the filling order is determined by the Cabinet of Ministers.
The creditors ' meeting of Chapter XV Article 86. Creditors meeting procedure (1) the creditors ' meeting is organized in the form of common action of creditors a creditor decision making.
(2) a meeting of creditors led by the administrator.
(3) the meeting of creditors may be present in the administration of the insolvency representative.
(4) a creditor may participate in a meeting of creditors personally or through a representative. Representative of the creditor is obliged to present a creditors Meeting Manager of formal representation.
(5) If a meeting of creditors against the debtor in another participating Member State launched in the Council Regulation No 1346/2000, article 3, paragraph 1 or 2 set out in the insolvency proceedings, the liquidator, he involved in vendor meetings Manager presented a copy of a ruling on article 3 of the said regulation in point 1 or 2 set out in the insolvency proceedings involving the appointment of a liquidator or other proof according to the certified copy and certified in a translation of a proof of a ruling or national language.
(6) the vendor self service vendor meeting may authorize more than one person. This person represents the creditors the full amount of his claim.
(7) If the register of claims of creditors have registered more than 100 creditors, creditors ' meeting shall participate the creditors representing not less than one percent of the entire amount of the claims of creditors. In this case, one person may be represented by multiple vendors.
(8) the Administrator gives the creditors whose claims do not exceed one percent of the entire amount of the claim, the necessary information, as well as support to such creditors combined and joint representative authorized to vote on their behalf.

(9) the meeting of the creditors have the right to make decisions independently from the claims of creditors represented about if for the convening of a meeting of creditors is the entry in the insolvency register. The creditors ' meeting makes decisions by simple majority, except in the cases provided by law. The debtor's representatives did not participate in the meeting of creditors is not an obstacle.
(10) the Voting creditors are eligible to vote only "for" or "against".
(11) the creditors ' meeting is entitled to make decisions only on matters specified in the application as the vendor meeting agenda questions, except the question of the convening of the meeting of creditors. Creditors meeting agenda items to be defined by the administrator, on their own initiative, as well as in the light of the request for the convening of a meeting of creditors is included.
(12) in the course of the creditors ' meeting Protocol. Record supports the head of the creditors ' meeting. Vendor meeting not later than 10 days from the date of the meeting of creditors is convened by the signature of the head of the creditors ' meeting and present among the creditors the creditors ' meeting, elected representative, as well as any creditor who participated in the meeting of creditors, and expressed a desire to sign a protocol of the meeting of creditors.
(13) the creditors and the debtor's representative has the right to consult the vendor meeting minutes. The administrator after the receipt of the request in writing five days issue duly authenticated vendor meeting minutes.
(14) Signed the Protocol and its annexes to the administrator within five days after signing it shall be submitted to the responsible authority, which shall make entries in the register of insolvency.
(15) a meeting of creditors may stop once for a period of up to two weeks if their vote more than half of the voting creditors, indicating the resumption of the meeting time, location and agenda of the address. The administrator shall submit the application for discontinuance of the creditors ' meeting and resume times, locations and agenda, as well as the respective vendor meeting minutes to the responsible authority, which shall make entries in the register of insolvency.
87. article. The AP count of votes at a meeting of creditors (1) each vendor number of votes at a meeting of creditors is determined by the administrator.
(2) votes at a meeting of creditors is assigned to a unsecured creditor, the secured creditor and unsecured claim in part and provide part of this law, article 90, in the case referred to in the claim which has been submitted to this law, article 73 of the vendor referred to in the first paragraph, the submission of claims and claims which are acknowledged by an administrator. If the administrator decides to partially admit the creditor's claim, the creditor votes granted to recognized the main claim.
(3) number of votes at a meeting of creditors is determined according to the principal amount of the claim of the creditor, for each whole lats in one voice.
(4) if the debtor launched in another Member State Council Regulation No 1346/2000, article 3, paragraph 1 or 2 set out in the insolvency proceedings, the liquidator involved in the claims of creditors against a debtor in Latvia launched insolvency proceedings, article 3 of this regulation, 1 or 2 points in insolvency proceedings the liquidator involved in acquiring the vendor the right to submit the claims of creditors to the extent of the law.
(5) a meeting of creditors not voting those creditors who are identifiable as interested parties according to article 72 of this law, as well as persons who have claims against the debtor from interested parties during the year before the legal person of the insolvency process.
(6) the meeting of creditors may not vote for those creditors whose claims of creditors is not specified in article 73 of this law the fourth part referred to in paragraph 6 of the claim, and the creditor has not prevented the shortage.
88. article. The convening of the meeting of creditors (1) the Administrator shall convene a meeting of creditors: 1) on its own initiative;
2) at the request of: (a) the voting age) a creditor whose claim is not less than one-tenth of the total voting of claims of unsecured creditors the amount b) the secured creditor to propose this law, article 90 procedure, referred to in (c)), not less than three creditors regardless of the amount of the claim, the debtor's representative, d), (e)), f) insolvency administration in another Member State against the debtor in the ongoing Council Regulation No 1346/2000 article 3 set out in paragraph 1 involved in insolvency proceedings the liquidator.
(2) the first paragraph of this article, 2. in the cases referred to in point include a list of applicants in the request, the amount of their claims, the meeting agenda and its reasons for calling.
(3) a meeting of creditors on the basis of the second part of this article the request, the administrator shall, within three weeks of the date of receipt of the request.
(4) the Administrator not later than two weeks before the date of a creditors meeting shall submit an application to the competent authority, which shall make entries in the register of insolvency; the application shall state the vendor meeting date, time, and venue address. The application of this article shall accompany the notification referred to in the fifth subparagraph.
(5) notice of a meeting of creditors, the administrator specifies a debtor of the company name, registration number, and provided the total amount of the claims of creditors, secured and unsecured creditors and the agenda. If the register of claims of creditors have registered more than 100 creditors, notice of meeting of creditors the administrator invites the creditors whose claims do not exceed one percent of the entire eligible amount of the claim, United and empower one representative.
(6) the notice may specify other information, which is the role of the meeting of creditors.
Article 89. Competence in the creditors ' meeting in the cases specified in the law, the creditors ' meeting shall decide on: 1) administrator's remuneration;
2 cancellation proceedings) administrator;
3) insolvency practitioner certification of expenditure;
4) debtor sales extension.
Article 90. Administrator actions (1) cancellation of the decision on the abolition of the initiation of the administrator may adopt, if the administrator has not provided an effective insolvency proceedings. The decision on the abolition of the initiation of the administrator has been adopted, subject to the two-thirds vote of those present and voting creditors.
(2) voting on Admin removal of initiation also participate to ensure creditors.

(3) the decision on the abolition of the initiation of the administrator, the creditors ' Meeting decides on the new admin candidate for the legal person of the insolvency process. Administrator she is supported if the vote on the first part of this article in a majority of the creditors.
(4) the decision of a creditors ' meeting on abolition of the initiation of the Court administrator shall submit to the meeting of creditors appointed representative.
91. article. Complaints about a vendor meeting decisions (1) decisions of the meeting of creditors may appeal to the Court which issued the relevant legal entity insolvency proceedings.
(2) the creditor or the debtor's representative may appeal against the decision of the creditors ' meeting, if it is unlawful or contrary to the interests of the creditors. The complaint may be submitted within two weeks after the meeting of creditors.
(3) the Administrator may submit a complaint against any decision of the creditors ' meeting. The complaint may be submitted within two weeks after the meeting of creditors.
Chapter XVI of the debtor's property and its management article 92. The concept of property of the debtor (1) the property of the debtor within the meaning of this law are: 1) the debtor's real property, real property, including money;
2) funds obtained from the disposal of property of the debtor;
3) in accordance with article 93 of the law of property recovered;
4) fruits collected from the debtor's insolvency process of the legal person;
5) legal persons during insolvency proceedings other legally acquired property.
(2) If a initiated against the debtor in the Council Regulation No 1346/2000 article 3 paragraph 2 of the insolvency proceedings, the first part of this article contains the property located in Latvia.
(3) the property of the debtor in the list that subjected the claims of creditors, should not be included in the property of which is, in accordance with the laws and regulations can not draw.
93. article. Recovered assets (1) Recover assets within the meaning of this law means money, as well as other things that: 1) included in the debtor's property legal persons during insolvency proceedings on the basis of the claim against the third parties;
2) recovered, recognizing the deals void;
3) recovered, passes the segto debts (article 99);
4) recovered, passes to the hands of the pledge.
(2) the property treated as Recovered: 1) funds and assets derived from the administrative organ of the legal person, based on the members of their duty to respond on injury;
2) funds and assets derived from Partnership members personally liable on the basis of their obligation to answer for the partnership commitments;
3) the funds derived from the participants (shareholders) and other members of the administrative organ of the legal person's insolvency legislation process and in other cases provided for by law.
94. article. Property belonging to third parties (1) the property of the debtor, which subjected the claims of creditors, the debtor not owned or held by the existing property belonging to third persons.
(2) the Administrator shall ensure property belonging to third parties until its surrender in these persons. Third parties have an obligation to bear the expenses incurred in the maintenance of the property belonging to them, if that person does not call upon the administrator takes over their belongings.
(3) If third party owned assets are forfeited during the insolvency proceedings, the value of the property to pay the person whose fault belonging to third persons property is forfeited.
(4) this article shall also apply in respect of financial instruments or financial instruments on the basis of a financial collateral arrangement, used as collateral for financial obligations.
Article 95. The debtor's property management (1) the debtor's insolvency By Declaration of the debtor's property management rights obtained by the administrator.
(2) the Administrator manages the property of the debtor, shall take measures to recover them and proceed with this stuff, this statutory mandate.
(3) the Administrator manages property as a good and thorough landlord.
(4) money that the administrator receives the management of property of the debtor, the debtor's noguldām the credit account.
Chapter XVII, article 96 of the disputed Transaction. Recognition of transactions and void (1) the Administrator is obliged to evaluate the debtor's business and to take legal action for the annulment of the transaction void irrespective of the nature of the transaction, if it concluded: 1) when the legal person of the insolvency date or three months before the legal person of the date of the insolvency proceedings and therefore the debtor has suffered damage, whether or not the person with whom or on behalf of whom the transaction was entered into , or not known about damage to creditors;
2) within a period of three years before the insolvency proceedings the legal person of the decree and the debtor has thereby suffered damage, and the person with whom or on behalf of sealed the deal, knew or had to know about such damage.
(2) if the business that suffered damage to the debtor, is concluded with interested parties in relation to or for the benefit of the debtor, that person shall be deemed to have known of the damage, if it does not prove the contrary.
(3) the secured creditor may require the administrator of the transaction is considered void if this transaction applies to claims for property is mortgaged and harmed the interests of the secured creditor.
Article 97. Royalty-free business challenge (1) administrators have the responsibility to take legal action of debtor gift contract annulment made under Section 1927 article.
(2) the first part of this article shall not apply to associations, foundations and similar organisations, which make donations or other gifts in their usual activities, if such a transaction are not significantly different from the previous year before the insolvency proceedings the legal person of the Decree closed transactions.
(3) the deal, concluded during the six months before the legal person of the date of the insolvency proceedings or after and in which the parties ' relationship inequality States that actually made the donation, the applicable rules on royalty.
(4) the donation can be a challenge and reclaim, if it was illegal or not used for the intended purpose.
98. article. The mortgage contract annulment void

(1) the mortgage contract declared void, if the mortgage was founded right after the entry made in the register of the insolvency of the debtor's insolvency proclamation.
(2) the Administrator has the responsibility to take legal action on the mortgage contract declared void if it is established in the first paragraph of this article.
Article 99. Displays the amount paid to cover the return of (1) the amount of money paid by the debtor of the debt incurred in the last six months before the legal person of the date of the insolvency proceedings, as well as the legal person of the date of the insolvency proceedings (other than the amount of money paid by the administrator in the insolvency of the legal person during the process) is refundable if it is determined that at least one of the following conditions: 1) payment is made before the due date of the liability is incurred If not filled by other payment obligations that come due, and it is possible to restore this article the third parties referred to obligations and rights;
2) debt paid for interested parties in respect of a debtor and not fulfilled other obligations due to the commitment of the interested parties before the deadline. This provision shall also apply to the bailiffs claimed debts deducted from the judgment needed to complete expenditure.
(2) the vendor shall repay the amount of money the debtor, by the debtor in the last three months preceding the insolvency process of a legal person the date of paid to prevent the debtor's insolvency by declaration of the amount of money the recipient vendor application.
(3) where the debt to cover amounts paid are returned for this article, in the cases provided for in the first and second subparagraphs, the obligations of the parties (including undertakings gain) and their corresponding rights, which was in force until the debt is settled.
100. article. Business opposition or cancellation claims against and obligations of successors of rights (1) the Administrator has the responsibility to take legal action for the opposition or cancellation of the transaction to the transaction participant assigns.
(2) the Administrator has the responsibility to take legal action against other successor rights and obligations, if: 1) successor rights the moment was an interested party in respect of a debtor;
2) for royalty rights.
Chapter XVIII execution and termination of the Agreement Article 101. Administrator's discretion (1) if the agreement of the debtor of a legal person the date of insolvency proceedings is not satisfied or is partially executed, the administrator is entitled to request the execution of other contracting or unilaterally to withdraw from the contract. The administrator has the right to execute a contract if such action does not reduce the debtor's assets.
(2) If an administrator unilaterally withdraw from the execution of the contract, the other party shall have the right to submit your vendor's claim.
(3) The continuation of the performance of the contract, which is not terminated in the cases provided for by law, as well as the execution of the contracts, which are legal persons during insolvency administrator on behalf of the debtor and a third party, is financed from the resources of the debtor.
(4) if the debtor is the insurer, then the administrator assessing the policyholders ' interests, assess the insurance contract concluded by the transfer, termination or continuation of the need and take all legal action to halt or continue insurance contracts concluded.
Article 102. Mandate contract, prokūr and normal termination of the komercpilnvar (1) given the task of the debtor to the trustee (also prokūrist and komercpilnvarniek) for their belongings, which subjected the claims of creditors, the lapse of the legal person of the date of the insolvency proceedings.
(2) if the task is associated with a risk of loss, the trustee (also prokūrist and komercpilnvarniek) can be run until the day the administrator takes over the property of the debtor. As regards expenditure which the proxy holder (also prokūrist and komercpilnvarniek) due to the progress of the task, he may submit his creditor's claim administrator.
Article 103. Termination of the employment contract (1) the debtor's insolvency administrator has the right to a declaration of invalidity of the employment contract is terminated by the employee of the debtor. In this case, the contract notice shall be considered as the legal basis for labour law 101 in the first paragraph of article 9 and paragraph 10 of the terms and are not subject to the labour law, article 103 of the first subparagraph of paragraph 3, the terms for termination of the employment contract. If the employee has entered into a collective agreement, the administrator has the right not to apply the provisions of the contract notice, the notice including related costs.
(2) legal persons in proceedings not apply labour law rules on collective redundancies.
Article 104. Including restrictions Including a legal person is allowed in the insolvency proceedings, the debtor and the creditor's claims arisen between at least six months before the legal person of the insolvency process.
Article 105. Assignability of claims Administrator can delegate the debtor's claims against third parties, if the enforcement would be difficult or prolonged.
Chapter XIX the transition from legal persons the onset of insolvency proceedings on redress process article 106. The legal protection process of the transition of the legal person of the insolvency proceedings on redress process is not allowed if the legal person debtor insolvency proceedings handed down on the basis of article 57 of this law a 7, 8 or 9.
Article 107. The transition to the legal protection process (1) the process of legal protection to the debtor, subject to the applicable non-judicial redress process. In this case, for legal persons, the termination of the insolvency proceedings, the legal protection process, as well as a declaration that the legal protection process of the action plan are eligible: 1) the debtor's representative;
2) administrator;
3) against a debtor in another Member State launched Council Regulation No 1346/2000 article 3 set out in paragraph 1 involved in insolvency proceedings, the liquidator;
4) the creditor or the creditor group.

(2) developing and harmonising the legal protection process a plan, do not apply the provisions of this law on the debtor's agreement with the administrator and creditors for an administrator candidate out-of-court redress process, and do not need an administrator's opinion, if the legal protection process of the action plan developed by the administrator. The legal protection process of the action plan is considered to support, if a matching article 42 of this law the third part vendor.
(3) the process of legal protection measures for legal persons to be included in the insolvency practitioner costs and remuneration for the legal protection process of drawing up the plan, and they are due in full prior to the satisfaction of the claims of creditors.
(4) the employee claims that the employee claims guarantee fund, to be included in the process of legal protection measures and borne in full before the legal person of the insolvency costs.
(5) If a debtor in Latvia started in Council Regulation No 1346/2000, article 3, paragraph 2, certain insolvency proceedings before the legal protection process of the application for the Court to obtain a 3. of this regulation article 1 set out in the insolvency proceedings involving a written consent of the liquidator in the legal protection process of the action plan.
Article 108. Vendor information about the legal protection process of the application of the Person who has developed and harmonised legal protection process of the action plan, is the responsibility of the application before the Court to notify the administrator and creditors as well as debtors, if the plan is not developed by the debtor's representative.
109. article. The legal protection process and delivery of the legal person of the insolvency, the consequences of termination (1) after the Court adopted a decision on implementation of a process of redress, a legal person shall terminate insolvency proceedings and the consequences of the accession process of redress, as well as the consequences of the debtor is restored the activities of Government.
(2) after the Court adopted a ruling on the legal protection of the process of implementation, the administrator shall, within seven days from the debtor in possession of all his property.
Chapter XX of the realization of legal person of the insolvency process, article 110. Marketable assets to the insolvency process of a legal person is realized in article 92 of this Act specified in the property of the debtor, except for funds.
111. article. The sale of the debtor's property (1) Administrator within two months of the legal person of the date of the insolvency proceedings shall be drawn up of the debtor's property sales plan or report on the absence of the debtor's property.
(2) the debtor's property sale going on for the highest possible price to secure the claims of creditors.
(3) serve as collateral (pledged) of the debtor's property is sold in accordance with this law, the provisions of article 116.
(4) the decision on the sale of the pledged property of the debtor (with or without the auction) adopted by the administrator.
(5) the funds related to the sale of the property of the debtor, the debtor's account included.
(6) all the debtor's property is sold within six months after the legal person of the insolvency proceedings. With the agreement of the creditors ' meeting is not the property of the debtor of the pledged sales deadline may be extended.
112. article. Report on the absence of the debtor's property (1) if the administrator finds that the debtor has no property, he shall draw up a report on the absence of the property of the debtor, including: 1) the debtor's financial situation;
2 assessment of the options) to recover this law specified in article 93 of the debtor's property;
3 legal entities) the insolvency practitioner costs, if it will be continued;
4) proposal to ensure the legal person of the insolvency proceedings;
5) proposal on the legal person's insolvency further solutions – to end the legal person or the insolvency proceedings to continue.
(2) the Administrator shall immediately after article 111 of this Act referred to in the first subparagraph, the expiry of the period prescribed in this Act sends the message to all creditors of the debtor.
(3) If, within 15 days from the date of the sent message on the absence of the debtor's property, has received a proposal for a legal person of the insolvency administrator of finance, concluded the law 168. the third paragraph of article set out in the agreement and continues the legal personality of the insolvency process.
(4) If, within 15 days from the date of the sent message on the absence of the property of the debtor, the creditors ' opposition is received, the administrator shall implement the report on property of the debtor, in the absence of the proposal on the future of the process solution.
Article 113. The sale of the property of the debtor's plan (1) the debtor selling the plan administrator shall include the following particulars: 1) does not list the debtor pledged;
2) is not the property of the debtor of the pledged assessment;
3) estimated that the amount of funds the acquisition by selling the debtor's assets are not pledged, with a separate indication of the extent to which the acquisition of the auction and, in addition to stating the amount of funds that the acquisition of the property of the debtor as a case of sale auction and togetherness without it;
4) is not the property of the debtor of the pledged sales type (with or without the auction);
5) pledged the debtor list;
6) pledged to the assessment of the property of the debtor;
7) ensure creditors agreed the sale of the pledged property of the debtor (with or without the auction);
8) means that the acquisition by selling the mortgaged property of the debtor;
9) information about the effectiveness, if any claim is intended;
10) insolvency legal person funding source;
11 legal entities) the insolvency practitioner costs – administrator remuneration and expenses of the process;
12) sales of property of the debtor.
(2) the Administrator shall immediately after article 111 of this law in the first part the expiry of the period referred to in this law shall send to all creditors, the debtor and the guarantor representative for the sale of property of the debtor's plan.

(3) the creditor and the debtor's representative within 15 days from the date of despatch of the debtor's property sales plans, the administrator has the right to submit a proposal for the sale of property of the debtor as a case of togetherness. Each vendor has the right to object to the proposal of the administrator on the pledged property of the debtor, the sale of the offered claims of effectiveness and of the projected insolvency of the legal person.
(4) if the administrator reviewing the objections received, recognize them, he clarified the plan accordingly and notify the parties. If the administrator received an objection is not recognised as justified, he reasoned response to the applicant.
(5) the Administrator shall initiate the sale of the debtor's property according to the property of the debtor in the sales plan proposed the sale of not more than two weeks after the dispatch of the plan, creditors, the debtor and the guarantor representative, but not later than one week after the plan is intended to be consistent.
(6) If the debtor selling the plan to sell the property of the debtor without the auction and for such property is started, an administrator of the Executive records, entering the property sale, inform the bailiff, which records the execution of specific records.
(7) If the debtor is not possible the sales plan, the administrator shall immediately inform the creditors, sending the debtor specified sales plan. Specifies the property of the debtor under sales plan of that paragraph in the third and fourth parts.
(8) If, before the debtor prepare sales plan administrator detects in the movable property of the debtor in the case of perishable or becomes essential to more valuable, they must immediately be sold at preferential price as possible, informing the vendor after the sale on it and get the money.
114. article. The debtor company's sales (1) preparing the sale of the debtor's plan, the administrator shall consider the sale of the debtor's business as a whole.
(2) If a company includes the debtor pledged assets, the company's sales administrator receives the consent of the secured creditor.
(3) selling the company as a whole, benefits from a company vendor sales must be greater than will be the case if the debtor's assets would be sold separately.
(4) if the administrator decides to sell at auction, the auction takes place according to the procedures provided for the sale of immovable property by the administrator.
(5) the decision of a company's sales, the administrator shall draw up a list that includes the company sold in the corporeal and incorporeal things and economic benefits that belong to the company.
(6) in the case of sales to benefit over all rights and obligations of the debtor, other than the debtor's obligations that arose prior to the legal person's insolvency.
(7) the decision on approval of the company's auction law, adopt the view of the Court that the debtor's insolvency.
115. article. The property of the debtor in auction (1) If a debtor's property is sold at auction, the auction and the property rights to be strengthened to the benefit of the name in accordance with the provisions of the civil law on the sale of property in the auction if the force this law provides otherwise.
(2) If a legal person within the insolvency estate the first auction is deemed not to have occurred, the second auction held after the first auction rules with a downward step.
(3) the statutory Civil bailiff's activities relating to the property of the debtor in the auction run by an administrator.
116. article. Serve as collateral (pledged) sale of property of the debtor (1) ensure that the creditor has the right to ask to serve as collateral (pledged) sale of property of the debtor by this law, article 63, first paragraph, point 4, the time limit laid down in the end.
(2) serve as collateral (pledged) of the debtor's property sale going on auction law of civil procedure, if a secured creditor does not agree with the administrator for sale of property without an auction. Law of civil procedure the court bailiff in activities relating to the property of the debtor in the auction run by an administrator. Agreement with the secured creditor about the sale of the pledged property, the administrator shall ensure that the assets would be sold for the highest price possible, taking into account the interests of unsecured creditors.
(3) if the auction is sold to serve as collateral (pledged), the property of the debtor, where, under the law of civil procedure and article 615 616 rules deemed not auction took place and secured creditor wants to keep the property, the vendor is obliged to cover all the expenses of the auction, including on security devices (mortgaged) property of the debtor for the assessment of costs, remuneration for conducting the auctions and other auctions for costs related to the organisation.
(4) If the sale of the mortgaged property of the debtor, the amount of money received in excess of secured creditor claims and auction expenses, those funds are included in the property of the debtor, which upheld the claims of other creditors.
(5) If the sale of the mortgaged property, the debtor received a sum of money which is not covered by the claims of secured creditors, the creditors after the administrator's decision not to cover part of the claim acquires the rights of the secured creditor not. The Administrator's decision not to cover separately the main claims and outstanding blakusprasījum. If the secured creditor its claims administrator, signed up for this law, article 73 of the time limit referred to in the first subparagraph, provided the vendor that does not cover the claims in part one of this law, be granted voting rights in article 87.
(6) to Satisfy the claim of the secured creditor from the money received from selling the mortgaged property from the first claim is covered the principal, the interest, and finally liquidated damages.
Chapter XXI meeting of the creditors of the insolvency process of a legal person under article 117. Legal person of the insolvency costs and the claims of creditors of the settlement plan (1) the Administrator, within 15 days after the debtor implementing sales plan drawn up legal costs of personal insolvency and creditors plan to cover according to this law, the procedures laid down in article 118.

(2) the Administrator shall immediately after the first part of this article, the expiry of the period referred to in this law shall send to all creditors of the insolvency process of a legal person and the cost of the claims of creditors of the settlement plan.
(3) the Administrator shall initiate recovery of creditors under the legal cost of personal insolvency and creditors settlement plan if, within 15 days after the legal person of the insolvency costs and the claims of creditors of the circulation of the plans cover not received objections of creditors.
(4) If, within 15 days after the legal person of the insolvency costs and the claims of creditors of the plan cover the circulation of objections have been received in respect of the claims of creditors and the administrator of the plan cover, considering the objections received, recognize them, he clarified the plan accordingly and notify the creditors. If the administrator received an objection is not recognised as justified, he reasoned reply to applicants.
(5) If, within 15 days after the legal person of the insolvency costs and the claims of creditors of the plan cover the circulation of objections have been received regarding the legal person of the insolvency costs, the decision on the actual legal entity insolvency cost approval vendor meeting adopted.
(6) the Administrator shall, within 15 days from the claims of creditors of the execution of the plan cover notify vendors.
118. article. The claims of creditors procedures cover the legal person of the insolvency proceedings (1) From the debtor's funds, including funds obtained from the disposal of the debtor's property, or of other legal persons of the insolvency process, sources of financing (creditor, other natural or legal persons), except for the funds raised from this law, in article 116, the first fully covered legal entity insolvency costs.
(2) After the first part of the legal person specified in the insolvency practitioner costs are fully satisfied the claims of insolvency administration, if the debtor's claims of employees satisfied from the employee claims guarantee fund in accordance with the law "On the protection of employees in case of employer's insolvency.
(3) the second part of this article, the specific claim settlement in full satisfaction of the following claims: 1) of the employees pay for the last three labour relations for months during the 12 month period prior to the employer of the person declaring insolvency proceedings;
2) remuneration for annual paid leave, to which the 12-month period before the employer's insolvency legal person sentenced;
3) consideration for other types of paid absence for the last three labour relations for months during the 12 month period prior to the employer of the person declaring insolvency proceedings;
4) severance pay due to the Labour Relations Act set minimum expiration to the extent to which the rights obtained not earlier than 12 months preceding the employer entity declaration of insolvency proceedings;
5) the compensation for an accident at work or an occupational disease for the entire period until the outstanding employer of the person declaring the insolvency proceedings and the amount of compensation for the four years ahead, if the accident at work or the occupational disease occurred for up to 1 January 1997, as well as in case the employee is not deemed insured persons in accordance with the law "on compulsory social insurance against accidents at work and occupational diseases" occupational disease, the cause of which is the work of this employee's harmful working conditions before January 1, 1997, found after January 1, 1997;
6) State social insurance compulsory contribution and personal income tax payments related to the claims referred to in this paragraph.
(4) the tax administration (vendor) tax claim submitted Article 73 of this law referred to in the first subparagraph the period for submission of claims of creditors are satisfied of the principal sum level after the legal person of the insolvency costs and the second part of this article, determine the claims of creditors have been met.
(5) after the first paragraph of this article of the legal person of the insolvency costs and the second and third subparagraphs down the claims of creditors of the debtor in satisfaction of the remaining funds are distributed to the rest of the claims of unsecured creditors for the purpose of the principal sum (without interest) presented to article 73 of this law referred to in the first subparagraph the period for submission of claims of creditors. This round is pleased to provide the vendor claims it uncovered in the part of the secured creditor and claims it does not cover in part according to article 76 of this law, if the secured creditor's claim filed this law, article 73 of the time limit referred to in the first subparagraph.
(6) If the debtor does not have enough money to fully satisfy all the fourth paragraph of this article said the claims of creditors, the relevant claims upheld in proportion to the amount owed to each creditor.
(7) after the first paragraph of this article of the legal person of the insolvency costs and the second, third and fourth in part satisfaction of the claims of creditors of the debtor's remaining funds are distributed to the claims of unsecured creditors for the purpose of the principal sum (without interest), which were submitted by article 73 of this law referred to in the first subparagraph the period for submission of claims of creditors, but not later than six months from the date When the receiver is entered in the register the particulars of the debtor's insolvency proclamation. This round is pleased to provide the vendor claims it uncovered in the part of the secured creditor and claims it does not cover in part according to article 76 of this law, if the secured creditor's claim filed by article 73 of this law referred to in the first subparagraph.
(8) If the debtor does not have enough money to fully satisfy all the sixth part of this article in specific claims of creditors, claims upheld in proportion to the amount owed to each creditor.

(9) of the debtor's cash left over after the claims of unsecured creditors met the principal sum level of unsecured creditors are satisfied next to the claims (in proportion to the amount due to each creditor).
(10) the debtor's cash left over after this article a legal person specified in the insolvency practitioner costs and satisfy the claims of creditors, the debtor is distributed to the participants (shareholders) or to the members in proportion to each investment amount, the debtor (natural person), heir (regarding inheritance) or persons who accept the Association or Foundation assets in accordance with the laws or the society or the Foundation Statute.
(11) If a debtor in Latvia started in Council Regulation No 1346/2000 article 3 paragraph 2 of the insolvency proceedings, the relevant funds left over from the first part of the legal person specified in the insolvency costs and the second, third, fourth, sixth and eighth in part satisfaction of the claims of creditors, the administrator puts the regulation in article 3(1) involved in insolvency proceedings specified receiver.
(12) from the money obtained by selling the debtor's company, first covered with property sales related costs and that the claims of creditors of the value of the pledged property, but no more than the securities. The remaining funds are distributed in accordance with the procedure laid down in this article.
119. article. Legal person's termination of the insolvency proceedings (1) If, within 15 days after the notice sent to cover the claims of creditors of the execution of the plan, in the absence of objection of the creditors, the administrator shall submit an application to the Court for legal persons, the termination of the insolvency proceedings, attaching a statement of the claims of creditors of the settlement plan.
(2) If, within 15 days after the notification of claims of creditors recovery plan, has received complaints of creditors, administrator: 1) five days prevents gaps to cover the claims of creditors plan implementation, if the objections are taken into account, and submit an application to the Court for legal persons, the termination of the insolvency proceedings, adding a specified notice of creditors settlement plan;
2) if the opposition is not taken into account, submit the application to the Court for legal persons, the termination of the insolvency proceedings, adding a statement of claims of creditors of the settlement plan and inform the Court about the objections received.
(3) in the first and second part of the application must be submitted to the Court within 10 days after the first and second parts, the end of the statutory period.
(4) If this law article 112 of the report on the absence of the debtor's property included the proposal of the administrator to terminate the legal person of the insolvency proceedings and, in the absence of objection of the creditors, the administrator within 15 days of this law, article 112 of the fourth part of the end of the time limit laid down in the application submitted to the Court on the legal person's termination of the insolvency proceedings.
120. article. Legal entities following the termination of the insolvency proceedings (1) If a legal entity insolvency proceedings are terminated at the Court's ruling on the legal protection of the debtor in the process of the implementation of the administrator's powers as governing body of the legal person concerned in the process of terminating the insolvency of the debtor and of the right to manage their property, as well as the regulatory bodies of the debtor.
(2) If a legal entity insolvency proceedings are terminated due to a legal person debtor insolvency process is complete, the administrator one day after receipt of the ruling destroyed the seal of the debtor and the debtor is not used the form and the form of the stamp and the debtor's Act of destruction, as well as the law prescribed destroy unused mandatory receipt form.
(3) If a legal entity insolvency proceedings are terminated due to a legal person debtor insolvency process is complete, the administrator within seven days after receipt of the ruling shall be deposited in the national archives documents of the debtor, including the debtor: 1) orders for personnel (recruitment of persons, transfer, the release of labour);
2) debtor's personnel Ordinance log (registry);
3 the debtor's exempt staff) contracts of employment (if they are not on the persons concerned) and work book (if they are not located at the relevant employees);
4) debtor's documents on social tax payments until January 1, 1997;
5) in the accident investigation, or the investigation findings and the material.
(4) within five days after receipt of the statement of the State Archives document the transfer of possession of the debtor, the administrator shall submit the statement to the Registrar of companies, which decide on the exclusion of the debtor from the registry.
(5) if the legal entity insolvency proceedings are terminated due to a legal person debtor insolvency process is complete, the administrator's powers shall end with the debtor's exclusion from the public record.
Chapter XXII of the individual merchant and partnership insolvency features 121. article. The rights of creditors whose claims are not derived from the business of the debtor (1) individual trader insolvency process implemented in accordance with the insolvency process of a legal person if the conditions specified in this chapter.
(2) If a legal person is declared insolvency process individual merchants, this chapter is also the right of creditors to people with claims against individual merchant is encountered outside of the individual merchant in the commercial activities carried out.
(3) If a legal entity insolvency proceedings are declared to be a partnership, established in this chapter rights of creditors is also engaged complementing the creditors.
(4) where this article is referred to in the first and second subparagraphs shall not apply its creditors claims pursuant to article 73 of this law, they shall not be subject to this law, the provisions of article 122.
122. article. Limitation of claims

(1) after this law laid down in chapter XXI procedure is completed the individual merchant's or partnership's insolvency process, uncovered claims of creditors rights lapse in the time limit laid down in the Law.
(2) the first paragraph of this article within the time lapse also this law 121. the first and second subparagraph vendor claims, if these vendors have submitted their claims to the individual merchant's or partnership's insolvency process.
123. article. The right to use the individual insolvency proceedings (1) the physical person as the individual economic operator has terminated the proceedings of the legal person, has the right to apply to the Court with an application for an individual's bankruptcy process.
(2) the first paragraph of this article is also a natural right of a person who has been given to a partnership that is terminated by legal person of the insolvency process.
Chapter XXIII of the agricultural producer's bankruptcy process characteristics of article 124. The agricultural producer's bankruptcy process and property sales started (1) agricultural producers in the insolvency process implemented in accordance with the insolvency process of a legal person if the conditions specified in this chapter.
(2) agricultural producers in the insolvency proceedings of such legal persons understand the subject of insolvency proceedings, from which the annual income by more than 50 percent of the legal person the date of insolvency proceedings constitute income from agricultural production and processing.
(3) when deciding on the agricultural producer's sales, followed the seasonal nature of agricultural production and dependence on natural and climatic conditions, as well as the opportunity to meet the claims of creditors of the income that the agricultural producer can benefit from the agricultural activity in the end of the period.
(4) in order to gain income from the production or processing of agricultural products, the agricultural producer's sale begins not earlier than after the respective agricultural activity period, considering the time required for the production or processing of agricultural produce. This period may not be longer than a year. With the agreement of the creditors ' meeting it can be extended for six months.
125. article. The agricultural producer's sale of (1) selling the agricultural producer's first sale offers all these things as a case of togetherness.
(2) the right to buy the agricultural producer's use of its assessment of the Community price is a person engaged in agricultural production or processing, and which are the property of the land bordering the land belonging to the debtor.
(3) If the sale of the team wants to buy more persons who meet the conditions of the second subparagraph, the auction shall be held between them with an upward step.
(4) If a month from the date of the offer to buy the venture sold does not log on to the person who meet the conditions of the second subparagraph, the community sold this law in General.
Article 126. The agricultural producer's sales conditions (1) If this Act 125. in accordance with the procedure laid down in article are not sold to the agricultural producer's property as the case community, this property of the producers of agricultural products can be sold in this law for the General order.
(2) selling agricultural products manufacturer-owned real estate, which is used for agricultural production or processing, prior to buy this property for a certified real estate appraiser determine the price is valuations agricultural producers from the location of the immovable property administrative area.
(3) If this referred to in the second subparagraph of article real estate wants to buy more persons who meet the conditions of the second subparagraph, the auction shall be held between them with an upward step.
(D) the natural person bankruptcy section process chapter XXIV of the insolvency proceedings of physical persons, the General provisions of article 127. Natural persons subject to the insolvency proceedings (1) the natural person subject to proceedings may be any natural person who, in the last six months has been the Republic of Latvia and the taxpayer's financial difficulties (hereinafter in this section – the debtor).
(2) a natural person debtor insolvency the assignee, trustee or custodian shall exercise the rights and obligations of the debtor in accordance with the requirements of the civil code.
(3) a natural person bankruptcy process does not apply to the sole proprietorship.
128. article. Individual insolvency framework conditions (1) natural persons of the insolvency process is suitable for legal persons, the provisions of the insolvency proceedings, subject to the provisions of this chapter.
(2) the debtor is a debtor under this Act, the rights and obligations of the representative.
(3) a natural person bankruptcy process involves sequentially from bankruptcy and discharge of their obligations.
(4) the bankruptcy procedure is realized, all property of the debtor and of its sales derived funds directed to satisfy the claims of creditors, with the exception of the civil procedure law, which cannot be said for recovery.
(5) the procedure for the clearance of the debtor's income diverted to satisfy the claims of creditors, and delete procedures after the end of the period are deleted, this procedure does not cover obligations.
129. article. Individual insolvency signs and conditions (1) the debtor may apply to the natural persons of the insolvency proceedings, if there is any of the following natural person bankruptcy process features: 1) that person is not able to settle the debt for which the due date and total debt exceeds 5000 lats;
2) due to the conditions proved that person will not be able to settle the debt, which will be due during the year, and the total debt exceeds 10 000 lats.
(2) natural persons the application of insolvency proceedings is the sufficiency of funds administrator one-time rewards to cover minimum monthly salaries of the two.
130. article. Individual insolvency application restrictions

Individual insolvency proceedings is not applicable or the discontinuing of the person: 1) which in the last three years prior to the physical persons declaring insolvency proceedings is provided knowingly false information to his creditors;
2) which at least 30 per cent of the credit granted is not provided for in the contract; objectives;
3) which last 10 years prior to the physical persons declaring insolvency proceedings are declared to be natural person bankruptcy process, which is deleted;
4) over the past five years prior to the physical persons declaring insolvency proceedings or natural persons during insolvency proceedings has come into effect, the competent authority's decision in the criminal case, which established that the debtor has shied away from tax payment.
131. article. Natural persons in the process of insolvency stakeholders (1) on the person concerned in respect of a debtor be recognised: 1) the spouse of the debtor;
2) person, consisting of a debtor relationship or affinity up to the second degree;
3) the assignee, trustee or custodian of the debtor;
4) company, in which the debtor holds the decisive influence of the group law.
(2) on the person concerned in respect of a debtor shall be the person who also has been an interested party in accordance with the provisions of the first subparagraph, the last five years to an individual's insolvency proceedings.
132. article. Individual insolvency cases publicity by the authority responsible for the insolvency register of natural persons of the insolvency proceedings, record the following information: 1) the debtor's name, surname and personal code;
2) date when the natural person declared bankruptcy, and the name of the Court;
3) in case the designated administrator name and certificate number;
4) notified the administrator name, certificate number and duration of the mandate;
5) of Council Regulation No 1346/2000 article 3 set out in paragraph 1 involved in insolvency proceedings the liquidator's first name, last name, practice address and telephone number;
6) type of insolvency proceedings in accordance with the Council Regulation No 1346/2000, article 3, paragraph 1 or 2;
7) type of insolvency proceedings under the law of the third subparagraph of article 128;
8) natural person bankruptcy process termination date, court name, and description;
9) vendor application deadline;
10) vendor meeting venue address, date and time;
11) entry date.
Chapter XXV natural persons the onset of insolvency proceedings on article 133. Who can submit individual insolvency application (1) an individual's application for insolvency proceedings in the cases provided for in this Act may be submitted to the Court: 1) the debtor, if there is any of this law, the first subparagraph of article 129 of these characteristics;
2) Council Regulation No 1346/2000 of 29 specified in paragraph "a".
(2) natural persons of the insolvency application submitted to the Court in the civil procedure law.
134. article. Physical persons declaring insolvency proceedings (1) the physical persons declaring insolvency proceedings are initiated bankruptcy proceedings.
(2) physical persons declaring insolvency proceedings: 1) is stopped on the Executive records ordered but not the amount recovered drive and on the obligations of the debtor in court;
2) the debtor loses the right to handle all their belongings, as well as with her owned or held by the existing property belonging to third parties (other than property to which you can not bring recovery), and the right to obtain the administrator;
3) stops lending (loan) interest, statutory penalty interest increase in growth (including the percentage increase in the penalties), late growth (even if identified as liquidated damages). The tax claims are stopped they delay calculation, which is determined as a percentage of the payment of taxes, fees and fines payment time delay;
4) the debtor loses the rights without the consent of an administrator more than once a month to do business, the amount of which exceeds the minimum monthly salary of one;
5) the debtor loses the rights without the consent of the administrator to take on new debt.
(3) the debtor's obligations, due there by natural persons of the date of the insolvency proceedings, be considered as having fallen due by the date of the insolvency proceedings.
Article 135. Appointment of an administrator of insolvency proceedings of physical persons in the administration of natural persons in the insolvency proceedings applied this law, article 59 of the first and the fourth.
136. article. The debtor and the creditor's action limits individual insolvency proceedings (1) the debtor upon physical persons declaring insolvency proceedings is forbidden to perform actions, which suffered damage to creditors.
(2) physical persons declaring insolvency creditor is prohibited from taking any action, with which an individual is injured the other creditors.
(3) the economic rights shall be incurred by the creditor or a third party in the first or second subparagraph, the results of the activities be recognised as invalid.
Chapter XXVI bankruptcy procedures article 137. Administrator actions during bankruptcy proceedings after the physical persons declaring insolvency proceedings and the commencement of bankruptcy proceedings the administrator: 1) open an account in her name with a credit institution to satisfy the claims of creditors in bankruptcy proceedings;
2) if necessary, shall submit the relevant public registers an application for insolvency marks the recording;
3) identify the debtor's assets and liabilities;
4) requested and received from the debtor, as well as from public institutions and credit institutions the particulars needed to identify the debtor's assets and liabilities, as well as other information of natural persons within the framework of insolvency proceedings;
5) adopt, register and check the claims of creditors;
6) immediately take your collecting society in the debtor's property, except property which cannot be said for recovery, and 140 of this law article referred to in paragraph 2 as well as the debtor's property, owned or held the existing third party-owned assets;
7) creditors of the activity report and its proposals to get funds for natural persons the insolvency practitioner costs and to satisfy the claims of creditors;

8) prepares the sales plan of the property of the debtor;
9) recovered receivables and take other legal action to regain the property of the debtor;
10) organised the sale of property of the debtor, other than tendering;
11) not less frequently than quarterly paid vendors article 147 of this law in the fourth paragraph, the said funds in proportion to each creditor's claim;
12) represents a debtor with physical persons on matters related to insolvency proceedings;
13 at the request of the debtor) shall draw up a draft plan of the discharge of their obligations.
Article 138. Administrator rights during bankruptcy Administrator in bankruptcy proceedings in addition to this statutory general administrator permissions has the following rights: 1) dispose of property of the debtor in cases stipulated by law;
2) to cover natural persons the insolvency practitioner costs (article 172);
3) call upon specialists, to ensure effective and legitimate individual insolvency proceedings, and with the consent of the creditors bear the cost of the property of the debtor or another natural person bankruptcy process funding sources.
139. article. The obligations of the debtor in bankruptcy proceedings the debtor is obliged: 1) generating revenue within their means, to complete satisfaction of claims of creditors, paying one-third of their income to the administrator account open a credit institution;
2) not later than 10 days after the physical persons declaring insolvency administrator of the day put their funds;
3) to store and manage your belongings as well and thoroughly master;
4) prepare a plan of discharge liabilities;
5) give the administrator the necessary messages.
140. article. Rights of the debtor in bankruptcy proceedings the debtor has the following rights: 1) to receive at least two-thirds of their income to cover the maintenance costs of physical persons;
2) keep things to him essential to income generation.
141. article. The claims of creditors and the creditors ' meeting (1) the claims of creditors against a debtor shall be made an administrator in chapter XIII of the Act in accordance with the procedure laid down within one month from the date of entry in the register of the insolvency of the debtor's insolvency proclamation.
(2) the Administrator shall compile claims of creditors of the debtor in chapter XIII of the Act.
(3) the creditors meeting shall be in accordance with this law, the provisions of Chapter XV.
(4) the right to request the convening of a meeting of creditors is any vendor.
142. article. The right of creditors to notify individuals of the insolvency application restrictions (1) creditors within two months from the date of entry in the register of the insolvency of the debtor's insolvency proceedings for a declaration of invalidity shall have the right to submit a proposal to terminate the administrator's physical personal insolvency, if the vendor has information about this law and in article 130.154 that limits an individual's application for insolvency proceedings.
(2) the Administrator of the decision not to submit an application to the Court for the termination of bankruptcy proceedings by creditors referred to in this article, the notification can be challenged in court, in which a natural person is proposed on the insolvency case.
143. article. (1) the property of the debtor On the debtor's property and its management arrangements apply in chapter XVI of this law contains provisions, save as otherwise provided in this title.
(2) the property of the debtor, the debtor's income is also generated by natural persons during insolvency proceedings.
(3) For the maintenance of the property of the debtor responsible administrator who can put this stuff in storage, with or without the debtor the right to use it.
144. article. Deal disputed in bankruptcy proceedings the debtor's transactions concluded is arguably this law prescribed in Chapter XVII, if bankruptcy proceedings are found in article 153 of the law laid down in discharge of their obligations.
145. article. The sale of the property of the debtor in bankruptcy proceedings (1) the sale of the debtor's property provides the administrator, subject to the effects of the sales plan.
(2) the Administrator shall initiate the sale of the property no earlier than two months after the physical persons declaring insolvency.
146. article. The sale of the property of the debtor plan for natural persons in the insolvency proceedings (1) the debtor's property for sale administrator developing a sales plan of the property of the debtor (article 113), in the light of this law and article 111.148.
(2) if the secured creditor and the debtor has entered into an agreement to keep the dwelling, which embarrassed by the pledge, and this arrangement is consistent with the interests of other creditors, it is indicated on the sales plan of the property of the debtor.
(3) the debtor selling the plan administrator sends this law creditors no later than two weeks after the vendor application deadline.
(4) the debtor's property sales plan is implemented in accordance with this law, the provisions of chapter XX, save as otherwise provided in this title.
147. article. Natural person bankruptcy process cost and arrangements cover claims of creditors (1) after the sale of the debtor's plan administrator within 15 days of the draw up and send to all creditors a final bankruptcy costs list of the claims of creditors, as well as cover an overview of received and spent the money.
(2) the debtor is first full cover maintenance payments, including payments of maintenance guarantee fund, as well as physical persons the insolvency practitioner costs.
(3) funds, generated as security for the strength property of the debtor, the secured creditor routed to cover the claim.
(4) the claims of unsecured creditors are United in one group without priorities. After the second and third subparagraphs have these duties, is satisfied in the claims of unsecured creditors in proportion to each vendor to the amount of the principal sum. From the debtor's cash left over after the claims of unsecured creditors met the principal sum level of unsecured creditors are satisfied next to the claims (in proportion to the amount due to each creditor).
(5) the debtor's cash left over after the referred to in this article to cover the costs of the insolvency proceedings and the satisfaction of claims of creditors, the debtor is handed over.
148. article. Agreement on the conservation of the housing of the debtor debtor

(1) the secured creditor and the debtor may enter into an agreement that natural persons during insolvency proceedings are not sold the House belonging to the debtor, which is pledged in favour of the secured creditor.
(2) in the first subparagraph in the case of natural persons during insolvency creditor payment is made not more than the amount that would be payable to the debtor, the hiring of security of the debtor's property to serve natural persons during insolvency proceedings.
(3) in the second paragraph of this article, these payments shall be made by the administrator of the property of the debtor according to the debtor and the secured creditor to the agreed schedule. On the vendor that provided the payments made by the creditor's claim is reduced.
(4) If the debtor after the completion of the bankruptcy proceedings is the appropriate procedure for discharge of their obligations, the agreement referred to in this article shall remain in force and secured creditor related deletion procedure receives payments that is not greater than that referred to in the second subparagraph of article.
(5) the secured creditor is entitled to withdraw from the agreement and ask about the security of the property of the debtor serve sales, if the agreement is carried out in the conditions for payments.
(6) if not agreed to in the first subparagraph in specific agreements and with the debtor together living in the dependent persons, housing sales in the auction are able to set aside up to one year of physical persons declaring insolvency debtor days to find other housing. The provisions of this part apply in cases where housing land use exceeds 100 000 lats. This predicted natural persons property sales plan.
Article 149. Completion of the bankruptcy proceedings (1) the notice on the completion of the bankruptcy administrator sends the creditors and the debtor not later than 15 days after you have completed the sale of the debtor's property and recovery (article 144). Notice of the completion of the bankruptcy administrator shall also, if the debtor is left home in respect of which the debtor has reached agreement with the secured creditor.
(2) the notice of the completion of the bankruptcy proceedings, the administrator specifies the vendor claims satisfied and dissatisfied creditors claim amount.
(3) the notice on the completion of bankruptcy procedures adds a delete connection plan designed according to this law, and article 154.155.
(4) creditors and the debtor has the right, within 15 days after receipt of the notification by the administrator to express his objections and proposals for the completion of the bankruptcy proceedings.
(5) the Administrator, after assessing the proposals and objections submitted, shall take appropriate measures within the bankruptcy proceedings. If the administrator does not consider proposals and objections made, he reasoned answer the objection or proposal to the applicant and notify the Court when he filed the application for the approval of the completion of the bankruptcy proceedings.
(6) not more than three weeks and not later than one month after the debtor and creditors have sent notice of the completion of the bankruptcy proceedings and persons related to the deletion of the plan, the administrator shall submit an application to the Court for confirmation of the completion of the bankruptcy proceedings.
(7) the Administrator shall submit the application to the Court for confirmation of the completion of the bankruptcy proceedings, while asked to terminate an individual's insolvency proceedings, the debtor is found in the restrictions the deletion procedure (article 153).
150. article. Termination of bankruptcy proceedings (1) the Court shall terminate the bankruptcy proceeding, while ending the physical person's insolvency proceedings, the debtor is found in limits an individual's application for insolvency proceedings (article 130).
(2) an application for the termination of bankruptcy proceedings under the first paragraph of this article shall be submitted in case the administrator within three months of physical persons declaring insolvency.
151. article. Completion of the bankruptcy proceedings or termination of the effects, if at the end of the physical person's insolvency proceedings (1) If, at the completion of bankruptcy procedures or termination of the natural person is terminated, the insolvency process, this statutory administrative privileges and limitations provided for in this law, the debtor's conduct with their belongings.
(2) If, at the completion of bankruptcy procedures or termination of the natural person is terminated, the insolvency process, restore the right of creditors to demand the fulfilment of the obligations of the debtor to the extent that the debtor has not met his obligations to natural persons, as well as insolvency proceedings revert things as a sentence, but not the amount recovered drive and things about the obligations of the debtor in court.
Chapter XXVII Related deletion procedures article 152. Delete the subject of the commitment procedure (1) the deletion procedures subject may be a debtor who has completed bankruptcy proceedings.
(2) the debtor's assignee, trustee or custodian shall exercise the rights and obligations of the debtor, in accordance with the provisions of the civil code.
Article 153. Delete procedure related to restrictions of deletion procedure shall not apply, or to cease in the following situations: 1) the debtor in the last three years prior to the physical persons declaring insolvency proceedings or insolvency proceedings are closed as a result of transactions become insolvent or caused injury to the creditors, and he knew or ought to be aware that such transactions can lead to insolvency or damages to creditors;
2) the debtor has provided knowingly false information about their assets and hid his true income.
154. article. Natural persons undertaking the clear plan (1) natural persons undertaking the clear plan drawn up by the debtor in bankruptcy proceedings.
(2) natural persons commitments are listed in the delete plan: 1) creditors whose claims have not been satisfied within the bankruptcy proceedings, as well as the extent of such creditors;
2 delete plan) duration;
3) debtor's estimated monthly income amount;
4) debtor's estimated monthly income amount to cover the maintenance costs of the debtor;

5) debtor's income, the amount required for his housing rent or interest secured creditor, if the debtor has agreed with him about the only housing;
6) debtor's estimated monthly income amount that will shift the discharge of their obligations to implement the plan;
7) amount to be paid to the creditors and the payout schedule of the deletion procedures.
155. article. Natural persons undertaking the clear plan (1) natural persons undertaking the clear time limit for the implementation of the plan, the debtor shall be determined taking into account the expected income for the deletion procedure.
(2) where, in accordance with the obligations of a debtor's rating in the procedure for deleting his income will be enough to cover at least 50 percent of the total liabilities, which remains after the completion of the bankruptcy proceedings of physical persons in relation to the deletion for the plan's maturity of one year from the date of the deletion procedures.
(3) if the debtor discharge liabilities in the course of the procedure of their will, as a result of circumstances not being able to cover the second part of this article, the obligations set out in the context of the deletion, the term of the plan would be as follows: 1) two years from the date of the deletion procedures if, in accordance with the obligations of a debtor's rating in the procedure for deleting his income will be enough to cover at least 35 percent of the total liabilities, which remains after the completion of the bankruptcy proceedings;
2) three years from the date of the deletion procedures if, in accordance with the obligations of a debtor's rating in the procedure for deleting his income will be enough to cover at least 20 percent of the total liabilities, which remains after the completion of the bankruptcy proceedings;
3) within three years and six months from the date on which the deletion procedure, if the debtor's income for the discharge of their obligations during the procedure are not sufficient to cover the third part of this article, 2. the obligations laid down in paragraph 1, an individual's discharge liabilities in the plan provided that the creditors will be redirected to cover the features of one-third of the amount of the debtor's income, but not less than one-third of the amount of the minimum monthly salary for one month.
(4) if the debtor discharge liabilities in the course of the procedure of their will, as a result of circumstances not being able to cover the second part of this article, the obligations of the debtor of the amount and total liabilities of insolvency at the time of delivery does not exceed 100 000 lats, natural persons undertaking the clear plan provides that creditors will be redirected to cover the features of one-third of the amount of the debtor's income, but not less than one-third of the amount of the minimum monthly salary of one month until While it will take two years from the date of the deletion procedures.
(5) The obligations of the debtor is considered the principal sum only, not including fines, penalties or interest on arrears. At the debtor's liabilities include the use of the agreed unpaid interest up to, but not the Declaration of insolvency more than six percent per year.
156. article. The debtor and the creditors ' right to provide opinions and proposals concerning natural persons undertaking the clear plan (1) developing an individual's commitment to the clear plan, the debtor shall co-operate with the vendors, listening to their complaints and proposals.
(2) creditors have the right to 15 days after deleting the physical connection of the person receiving the plan to express their objections to the debtor and the proposals for this plan.
(3) the debtor shall assess the objections and proposals and, if necessary, specify the physical deletion of personal commitment.
(4) If the debtor has not taken note of the objections and proposals, he reasoned answer the objection or proposal to the applicant and shall notify it to the Court.
157. article. Natural persons undertaking the clear approval of the plan (1) this law, article 149 of the sixth part of the debtor within the time limit set, submit an individual commitment to the extinguishing of the plan for the approval of the Court.
(2) after the Court approved the plan, the debtor sends it to all vendors that are included in this plan, as well as the authority responsible for the insolvency registry.
158. article. Delete the Declaration of commitment of the procedures (1) the Court's decision on the completion of the bankruptcy proceedings and persons related to the deletion of the approval of the plan is the basis for the deletion of the procedure in relation to delivery.
(2) a decision of the Court of Justice for a declaration of invalidity of the delete procedure: 1) restoring the right of the debtor to deal with all their belongings, as well as with her owned or held by the existing property belonging to third parties;
2) debtor remains the ban without administrative consent to enter into the transactions in respect of its assets, the sum of which exceeds the minimum monthly salary of two.
159. article. The Administrator's actions after the deletion procedure By deleting the connection procedure the administrator in this law: 1) at the request of the creditor shall monitor the physical deletion of personal commitment for implementing the plan;
2) at the request of the creditor, the debtor's conduct be monitored under this section to the duties;
3) at the request of the debtor gives him legal aid in relation to natural persons of the insolvency proceedings (if necessary, develop an individual commitment also delete any amendments to the plan).
160. article. The debtor's obligation to discharge liabilities procedure the debtor has the following responsibilities: 1) natural person to perform the delete context;
2) monetize at your own pace to complete satisfaction of claims of creditors;
at the request of the administrator 3) to provide information about an individual's discharge of their obligations for implementing the plan.
161. article. The debtor's rights against the debtor of the deletion procedure has the following rights: 1) hold at least two-thirds of their income to cover their maintenance costs;
2) keep things to him essential to income generation;
3) ask an administrator for legal aid in relation to natural persons of the insolvency proceedings (if necessary, also natural persons undertaking modifications of deletion).
162. article. Natural persons undertaking the clear plan amendments

(1) If an individual's discharge of their obligations during the execution of the plan, the debtor's income changes, he must prepare an individual's obligations to delete any amendments to the plan, changing it to this plan and charged under this law, the extent of this obligation laid down in article 155.
(2) the debtor shall extend the physical deletion of personal liability plan deadline, and reduces the amount covered by the commitments, if the debtor's income decreases to the extent that he obviously will not be able to cover an individual's discharge of their obligations specified in the plan.
(3) the debtor reduces the physical deletion of personal liability plan deadline and increased the amount covered by the commitments, if the debtor's income will increase to the extent that he obviously will bear a larger portion of their obligations.
(4) if the debtor of the deletion procedure has increased their income by making amendments to an individual's commitment to the plan, he is deleting the right proportion to increase obligation not only to delete part of the duties assigned, but also their part of property is entitled to keep.
(5) natural persons undertaking the plan to delete the amendment to this Act was presented to the AP article 149 in that order, and the Court approved this law, referred to in article 157.
(6) by decision of the Court once the delete context in the course of the procedure for a period not exceeding one year may reduce by half an individual's discharge of their obligations under the plan payments to creditors of the debtor, if he related the deletion procedure could not find paid employment or become dependant.
163. article. Monitoring of the debtor if the creditor that the debtor is information hiding their income or do not carry out this statutory action, in order to cover the largest possible part of their obligations, the creditor is entitled to ask the administrator to take possession of the debtor, he checks his association deletion procedure.
164. article. The debtor's exemption from liability (1) if the debtor has made an individual commitment to the extinguishing action set out in the plan, and the plan of action in that remaining in the plan, this person is deleted and stop implementing recordkeeping for the deleted drive connection is terminated.
(2) the debtor is released from natural persons commitments specified in the delete plan the remaining liabilities, if he has not taken the steps set out in the plan.
(3) the decision on the release of a debtor from the remaining commitments within the specified natural persons undertaking the clear plan be adopted by the Court, upon completion of the procedure for discharge of their obligations.
(4) after completion of the procedure for deletion are not deleted: 1) claims for the payment of maintenance;
2) claims of unauthorized transactions;
3) provided the claim if the debtor is saved for the security of his/her claims, in so far as the housing of this Act referred to in article 148 agreement provides otherwise. The Executive management of the recovery of the remaining debt is renewed.
(5) delete, in respect of the commitment of the Act referred to in article 148. agreement on the conservation of a debtor's House to be in his possession in accordance with that agreement.
165. article. Deleting a connection termination procedures (1) the debtor shall submit an application to the Court for the termination of the proceeding, delete if he has passed all physical persons included in a plan discharge liabilities commitments.
(2) the Administrator shall submit an application to the Court for the discharge of their obligations, the termination of the proceeding if: 1) finds the deletion procedure connection restrictions (article 153);
2) is over an individual's commitment to the implementation of the plan of the deletion deadline.
(3) the vendor shall submit an application to the Court for the discharge of their obligations, the termination of the proceeding if: 1) the debtor fails to comply with an individual's discharge liabilities;
2) finds the deletion procedure connection restrictions (article 153).
(4) a commitment to the extinguishing procedure Terminated, the Court shall terminate at the same time an individual's bankruptcy process.
(5) If a court terminates the deleting procedure context, establishes that the debtor is exempt from debt obligations in accordance with article 164 of this Act, the Court shall at the termination of the proceeding frees him from the obligations specified for an individual's discharge of their obligations.
(6) if the deletion procedure is terminated without releasing the debtor from obligations, creditors will be renewed and charged in full, but stopped proceedings and the enforcement of judgments proceedings is restored.
(E) the process of legal protection section and the insolvency practitioner costs Chapter XXVIII of the legal protection process Costs and extrajudicial legal protection process developments of legitimate and effective operation of the article 166. Administrator remuneration process of redress and out-of-court redress process (1) The duties of the administrator of the legal protection process or extrajudicial remedies under consideration about the process and its procedures cover the administrator appointed by the Court after the advice of the debtor in writing agreed with the debtor.
(2) The duties of the administrator of the legal protection of a process or an out-of-court redress process, the administrator receives monthly remuneration of minimum monthly salary of one, if not the first paragraph of this article on a different amount of remuneration and the procedure for the cover.
(3) remuneration for administrator responsibilities redress process or out-of-court redress process to be covered from the funds of the debtor, and its recovery agenda provides the legal protection process of the action plan.
167. article. The process of redress and out-of-court redress process costs (1) the process of redress and out-of-court redress process costs from funds of the debtor.
(2) the process of redress and out-of-court redress process and the amount of costs and expenses incurred in order to provide the legal protection process of the action plan.
(3) the legal protection process for expenditure shall include: 1) administrator's consideration;
2) current tax and fee charges;
3) debtor's employee wages;
4 maintenance and conservation of property) to the necessary expenditure;
5) with the debtor's economic activity costs.

Chapter XXIX the costs of insolvency proceedings the legal person's legitimate and effective development and sources of financing of these costs 168. article. Legal entity insolvency cost source of funds (1) the legal person of the insolvency costs shall be borne by the debtor.
(2) if the debtor is not possible to cover the legal costs of the insolvency of the person and the legal person of the insolvency proceedings are terminated in accordance with this law, article 112, the fifth of the legal person of the insolvency costs borne by article 62 of this law the legal person specified in the insolvency proceedings of the deposit paid to the administrator as a legal person of the insolvency costs which they bear the legal person of the insolvency costs and compensation.
(3) if the debtor is not possible to cover the legal costs of the insolvency of the person, they can be financed from the debtor's representative, administrator, vendor, vendor group, or other natural or legal persons of funds and by their accord, such persons on their agreement with the administrator, in writing, if such an agreement meets the interests of the creditors.
(4) if the legal person of the insolvency process is realized or recovered property, then referred to in the third subparagraph, in the person of the legal person's property to the insolvency practitioner costs comparable to the legal person of the insolvency costs and reimbursable pursuant to this law, article 118 in the first part of the following procedure, you must first pay to the persons referred to in the third subparagraph of the assigned property.
(5) if the legal person of the insolvency assets are recovered from commercial 166, 168.167, and 169 persons referred to in article based on their obligation to answer for the damage caused to the debtor, the creditor's objections, based on the requirements under the Law of the debtor's right to article 170, vendors, which brought this claim in favour of the debtor, the expenses incurred in connection with the bringing to equate the insolvency practitioner costs and reimbursable pursuant to this law, article 118 in the first part of the following procedure first repayment of the costs incurred by him in connection with the proceedings.
Article 169. Administrator remuneration of insolvency proceedings the legal person (1) For the administrator's responsibilities the insolvency process of a legal person, the administrator receives compensation from the debtor, except in the cases referred to in this law.
(2) the Administrator's remuneration is determined as follows: 1 the minimum monthly salary) for two per job from the appointment date to the sales plan of the property of the debtor (article 113) or message about the absence of the debtor's property (article 112), and to draw 10 percent of funds of the recovered property (article 93), which recovered to the property of the debtor or the sales plan report on the absence of the debtor's property for the establishment;
2) If, after the sale of the debtor's insolvency plan process will continue because this process is likely to be financed from the resources of the debtor, the administrator of the debtor without the reward of pledged property sales, as well as of the recovered property of the debtor is 10 percent of the amount provided for the payment of creditors. Administrator with a meeting of creditors or the insolvency practitioner costs other donors may also agree on other compensation and settlement arrangements;
3) If, after the report has been drawn up for the absence of the property of the debtor, the insolvency process will continue because there is agreement on the financing of the costs of the process according to this law, the third part of article 168, administrator of the amount of remuneration and the procedure for the settlement administrator will agree with the insolvency practitioner costs contributing.
(3) the consideration for the sale of the pledged property of the debtor, if it is made by the administrator, is determined as follows: 1) up to 3000 lats – 15 per cent of the amount payable to the creditor;
2) from 3000 to 10 000 LVL lats-LVL 450 plus 10 per cent of the amount payable to a vendor in excess of 3000 lats;
3) from 10 000 LVL up to 100 000 lats-LVL 1150 plus 5 percent of the amount payable to a vendor in excess of 10 000 lats;
100 000 LVL 4) from up to 500 000 lat-5650 dollars plus 3 percent of the amount payable to the creditor, which exceeds 100 000 lats;
500 000 LVL 5) of up to 1 000 000 lats-LVL 17 650 plus 2 percent of the amount payable to a vendor in excess of 500 000 lats;
6) if the amount exceeds 1 000 000 recovered late-27 650 dollars plus 1 percent of the amount payable to a vendor in excess of 1 000 000 lats.
(4) where the auction of the pledged property is deemed not to have occurred and the secured creditor wants to keep the property for himself, in the third paragraph of this article, the stated rate is applied to the remuneration of 0.3. (5) where the administrator is revoked from the post article 90 of this law in accordance with the procedures specified in that administrator's remuneration the minimum monthly salary is one month from the date of cancellation of an administrator. In this case, the administrator's remuneration paid to creditors who have voted for his removal proceedings, in proportion to the number of votes for a proprietary vendor meeting.
(6) the Administrator will not be determining remuneration if he is lifted from the post of this law, article 22, second paragraph, 1., 2., 3., 4., paragraph 7.
170. article. Legal person of the insolvency costs (1) the legal person of the insolvency process assurance that process costs (excluding expenses related to the property that serves as collateral) must not exceed five percent of the proceeds of disposal of the assets of the debtor, if the total of these assets as collateral and serve if the creditors ' Meeting decides otherwise.
(2) insolvency of the legal person's expenditure shall include: 1) consideration by guest specialists according to their nature of the services provided, the size and value of the provision of services, but not as a reward for services analogous to similar matters;
2) expenses for maintenance of the property of the debtor in insolvency proceedings;
3) expenditure announcement, the organisation of the auction settlement account opening, servicing and closing costs of notary, and postal services;
4) expenses related to the transfer of the case to archives;

5) travel expenses, which shall be calculated in accordance with the laws and regulations on the costs associated with missions and duty travel;
6) expenses due to the continuation of contracts that are not terminated in the cases specified by law, as well as the execution of the contracts that are legal persons during insolvency administrator entered into with third parties;
7) expenses related to the liquidation of the debtor, including the environment, hazardous waste removal, recycling and disposal;
8) current tax and fee payments for the period from the date of the given legal person of the insolvency process;
9) expenses related to the property belonging to third parties until the transfer of the maintenance of such persons;
10) expenditure based and associated with a specific legal entity insolvency proceedings;
11) costs incurred by the creditor, the debtor's name in travel requirements to the members of the Management Board of the debtor, if the claim is upheld and to recover assets is at least court costs;
12) enforcement costs, if the administrator in accordance with this law, paragraph 12 of article 65 and article 67, paragraph 14, requested the termination of the enforcement proceedings.
Chapter XXX cost of an individual's legal insolvency proceedings and the provision of effective progress article 171. Administrator remuneration of individuals in the insolvency proceedings (1) The administrator of the duty of an individual's insolvency, the administrator receives compensation from their appointment date to the completion of the bankruptcy proceedings – lump-sum remuneration the minimum monthly salary of about two.
(2) in addition to the first paragraph of this article remuneration for administrator in bankruptcy proceedings receive compensation for sales of property to the extent provided for in the legal person of the insolvency process.
(3) the administrator of the legal aid provided by the debtor after the deletion procedure, an individual's discharge of their obligations and of the plan for the natural persons undertaking the clear plan for project development in the bankruptcy proceedings, the administrator receives a remuneration not exceeding the payment for State legal aid – legal advice-provision.
(4) the amount of remuneration of the Administrator of the law referred to in article 163, an inspection shall be determined by the administrator, in writing, in agreement with the relevant creditor. If no agreement is reached, the administrator receives compensation after fixed rates – lump-sum remuneration of minimum monthly salary of one.
(5) natural persons in the case of the insolvency administrator's remuneration shall be borne by the debtor, other than from the case referred to in the fourth subparagraph, costs shall be borne by the vendor when.
Article 172. Individual insolvency costs (1) natural persons of the insolvency practitioner costs include: 1) the debtor's subsistence expenses;
2) expenditure on current tax and fee payments for the period from the date when the person made the insolvency process;
3) expenditure announcement, the organisation of the auction settlement account opening, servicing and closing;
4) expenditure on postal services;
5) expenses related to an individual's real estate assessment;
6) expenses for notary services;
7) expenses related to an individual's property and business surveys, as well as property and business insurance;
8) expenses related to legal aid in the procedure for the discharge of their obligations.
(2) natural persons of the insolvency practitioner costs borne by the debtor.
(F) section of the legal protection process and insolvency process monitoring chapter XXXI insolvency administration proceedings and of legal protection in the process of insolvency, article 173. Insolvency administration jurisdiction (1) the insolvency administration is the national authority that legislation in certain competences, implement the national policy for the legal protection process and insolvency matters, protects the interests of their employees in case of employer's insolvency and the law in the exercise of State and protection of the public interest the legal protection process and insolvency matters.
(2) the competence of the administration of insolvency for the implementation uses the following financial instruments: 1) business risk State fees;
2) grant from the State budget revenue;
3 revenue from the fee) services;
4) foreign financial assistance.
174. article. Insolvency administration rights, the legal protection process under the supervision of the insolvency proceedings (1) in order to ensure the legal protection process and supervision of the insolvency proceedings, the insolvency administrator controls the administration of the legal protection of the transaction process and insolvency proceedings, as well as complaints about administrator actions, except in the cases provided by law, when complaints about Admin decisions pending in the court seised of the case insolvency proceedings.
(2) the administrators shall have the legal protection process and insolvency process monitoring for: 1) to require State and local authorities and to receive them free of charge from any insolvency administration functions as required by the legal protection process and insolvency-related information;
2) request from the legal protection process and the parties to the proceedings and persons and to receive from them the necessary information and documents about the legal protection process and insolvency proceedings;
3) request the administrator to receive from him the necessary information and relevant documents on the legal protection process and insolvency proceedings;
4) require the administrator to produce the original documents, and receive copies of documents administrator action due diligence;
5) to request and receive explanations about his administrator actions and legal protection in the process of insolvency proceedings;
6) invite the administrator to the administrators to provide explanations on the legal protection process and insolvency proceedings;
7) to impose a legal obligation of the administrator;
8) submit an application to the Court administrator of the abolition of the legal protection process and insolvency administrator duties;

9) propose the question on the administrator certificate, dissolution or annulment of the cases referred to in this law.
Chapter XXXII insolvency administration decision to challenge and appeal procedure article 175. Insolvency administration decisions, the challenge and appeal (1) the insolvency administration adopt decisions on: 1) the insolvent employer employee recovery;
2) administrator action or legal protection in the process of insolvency, as well as the legal obligation on the detection of the infringement;
3) disputed administrative provisions and the actual action on the administrator certificate, including the issue of the certificate, the certificate of dissolution or cancellation, as well as the administrator's repeated certification;
4) of the Act referred to in article 62 of the payment of the deposit.
(2) the first subparagraph of this article referred to in paragraph 1 of decision the administrators may be challenged in a higher authority. The higher authority for the administration of the insolvency decision may appeal to the Court.
(3) the Administrator of the Association of actual action and administrative provisions relating to the certification of the administrator, including the issue of the certificate, the certificate of dissolution, annulment or administrator certification can be challenged again insolvency administration. The first part of this article, paragraph 3 of the insolvency administration decision may appeal to the Court.
(4) the second and third subparagraphs are challenging those decisions and an administrative procedure law. That decision, opposition and appeal will not suspend their operation.
(5) the first paragraph of this article 2 and referred to in paragraph 4 of the decision of the administration of insolvency proceedings may be appealed to the law of civil procedure the Court in which the proposed redress process thing or insolvency proceedings. The complaint in court does not suspend the operation of the decision of the administration of the insolvency.
176. article. Complaints about administrator conduct and review a submission of insolvency administration (1) vendor company (legal protection), the physical person (the person's insolvency process), a representative of the debtor (legal person of the insolvency process) or a third person whose legal rights are violated, you can submit a complaint about the administration of the insolvency administrator.
(2) vendor company (legal protection), the physical person (the person's insolvency process), a representative of the debtor (legal person of the insolvency process) or a third person whose legal rights are violated, a complaint shall be filed within three months from the date of the action, which violated a vendor, natural persons, representatives of the debtor or third party rights. If the legal protection process or insolvency proceedings are terminated, the complaint may be submitted no later than one year from the date of termination of the process.
(3) the Administration will not consider complaints about Admin decisions based on the law.
(4) the insolvency administration in handling complaints about administrator actions, is entitled to request from the parties, it needs information and documents.
(5) complaints concerning the conduct of the insolvency administrator, the administration shall consider the month of the date of receipt of the complaint.
(6) if the objective reasons that this article is referred to in the fifth subparagraph, the time limit cannot be met, the insolvency administration can be extended, but not longer than three months from the date of receipt of the complaint, notified to the complainant.
177. article. Complaint about decision of the administration of the insolvency Administrator or the complainant who disagrees with the decision of the administration of insolvency for administrator action, a month from the date of receipt of the decision can turn with complaints in the Court in which the proposed remedies or insolvency proceedings.
Transitional provisions 1. With the entry into force of this Act shall terminate insolvency law (Latvian journal, 2007, 2009, 188 no; 97. nr.).
2. The insolvency proceedings initiated in 2007 to December 31, the law "on corporate insolvency and companies".
3. the insolvency administration, deciding on insolvency in the administration costs of the insolvency proceedings, which were initiated according to the law "on insolvency of undertakings and companies", the Cabinet of Ministers of 14 March 2006, the provisions of no. 201 "insolvency practitioner remuneration and expenses of the administration of the order, with the exception of the provisions concerning the amount of remuneration of the Administrators (not including additional remuneration for each employee whose claim satisfied from the employee claims guarantee fund), determined according to the law of insolvency in force from 1 January 2008 until 31 October 2010.
4. Insolvency proceedings initiated pursuant to the law "on insolvency of undertakings and companies", the administrator is entitled to receive remuneration from the insolvency administration granted funds for this purpose, if: 1) administrator within two months after the defeat of the debtor in the public record has not submitted a request to the administrators of their remuneration;
2) debtor these processes excluded from the public register until 2 July 2009 and administrator until 2009 November 30, has not submitted a request to the administrators of their remuneration;
3) administrator to cancel the decision of the Court of the administrator's duties the law "About companies and the companies ' insolvency ' article 28, first paragraph, point 2 or 3 or in the administrator certificate cancelled because the administrator to get a certificate supplied incorrect information.
5. Legal protection proceedings and bankruptcy proceedings initiated during the period from 1 January 2008 until 31 October 2010, is applied to the period of the existing bankruptcy rules, and on that basis issued laws and regulations.

6. If the natural person bankruptcy process is launched by 2010 and 31 October is not terminated, this person is right after all the physical person sold property sales and satisfaction of the creditor's property, plan to ask the Court to launch a discharge of their obligations in accordance with the procedures of this law. In such a case the debtor in accordance with the provisions of the Act establish a notice of bankruptcy and discharge liabilities plan forwarded to the creditors of this law and article 149.157. Notice concerning the completion of bankruptcy procedures and the obligations of the plan be submitted to delete the Court not earlier than two months after sending these documents for vendors. In this term, the creditors have the right to notify also on this law, in article 130 and 153 of the said limits. For those statements, the debtor shall inform the Court. From the time that the Court has approved the plan, the discharge of their obligations are initiated in an individual's discharge of their obligations in accordance with the procedures of this law.
7. the Administrator for which the certificate is issued pursuant to the law "on insolvency of undertakings and companies" article 13 claims for not less than three years of practical experience in business or the monitoring bodies and the company Executive, but which are not higher education law, this law, in article 13, first paragraph, the requirements referred to in paragraph 2 of the higher education law is applicable from 1 January 2017. Administrator certificates issued until 31 October 2010, but which are not higher education law, this law, in article 13, first paragraph, the requirements referred to in paragraph 2 of the higher education law is applicable from 1 January 2017. If the first and second sentence that the administrator has not started studying in educational institution higher education law, for he until 2012 January 1 and shall submit to the Administrator for the Association of higher education institutions to issue the certificate of study initiation. The first and second sentences mentioned in the administrators who are studying at a higher education institution, when applying for certification shall be submitted to the Administrator of the repeated Association of higher education institutions to issue the certificate of continuation of studies successfully. If the administrator of the third sentence of this paragraph, the period prescribed is not begun studies in the higher education institution or by logging on to certify again does not submit the certified statement on the successful continuation of the Studio, his certificate recognised as valid in the specified period and the administrator not certified.
8. Article 28 of this law in the first part of administrator rights to other administrators the mandate for a period of less than 60 days, shall enter into force on January 1, 2011. 2010 December 31 administrator has the right to authorize another administrator to perform the obligations laid down in this law, for a period not exceeding 10 days.
9. Cabinet business risk duty in the framework of the media determines what part of these funds included in the national budget subprogramme, of which covered the costs of the insolvency proceedings the legal entity insolvency proceedings under the insolvency law, which was effective from 1 January 2008 until 31 October 2010 (eighth part of article 182 and 183 of the fifth part of the article).
10. The balance of the funds allocated to the administration of the insolvency 2010 31 October launched the insolvency costs and the refund to cover the State budget and State business risk funds, fees up to the 2010 31 October launched insolvency proceedings and to cover the remuneration of expenses in the coming financial years.
The law shall enter into force on 1 November 2010.
The Parliament adopted the law of 26 July 2010.
President Valdis Zatlers in Riga 2010 V 6 august