Read the untranslated law here: https://www.vestnesis.lv/ta/id/168034
Cabinet of Ministers Regulations No. 865 in Riga in 2007 (11 December. 27. § 69) the order in which the covered expenses and remuneration of the administrator of the insolvency process of a legal person from the State Agency "insolvency administration" allocations for these purposes Issued under the Bankruptcy Act, article 182 and 183 of the eighth article of the fifth part i. General questions 1. determines the procedure and the extent to which the State Agency "insolvency administration" (hereinafter referred to as the Maksātn capability of the Administration) legal persons in the proceedings shall be borne by the insolvency practitioner costs (expenditure) and the insolvency practitioner remuneration (fees) the State budget and business risk duty in the context of funds insolvency administration which allocated for these purposes.
2. the administration shall bear the costs of the insolvency and insolvency administrator (administrator) (including its outstanding remuneration, as well as additional remuneration for each employee claims satisfied), if the legal person of the subject of insolvency proceedings (hereinafter referred to as the debtor), vendor, or other natural or legal person may not have the funds to cover the costs or the administrator.
II. expenditure 3. by judgment of the Court of the debtor's insolvency process of a legal person in case of insolvency the insolvency practitioner is entitled to receive from the administrators for this purpose funds allocated to cover up to 250 lats.
4. If the administrator of the Exchange, took place after the Court decision on the appointment of the administrator also newly appointed administrator is entitled to receive from the insolvency administration funds to cover these provisions referred to in paragraph 3.
5. Submission of expenditure (annex 1), the administrator shall submit the insolvency administration, adding the following documents (except where those documents are submitted to law notified body that organizes the insolvency registry): 5.1 a copy of the judgment of the Court a copy of the Declaration of insolvency proceedings;
5.2. in the case of Exchange, the administrator – copies of a copy of the decision by the Court for the appointment of an administrator.
6. Insolvency administration month after the rule referred to in paragraph 5 of document submission shall decide on the allocation of funds to cover the expenses and the amount or on the refusal to grant funds.
7. the insolvency administrators assigned to cover the money transferred to the account of the debtor.
8. Insolvency administration After a decision on the allocation of funds to cover insolvency administration is entitled to recover the funds allocated. The administrator provides administration of insolvency, funds allocated to cover insolvency in view of the statutory procedures cover specific insolvency situation.
9. the Administrator shall repay to the administrators of funds allocated to cover insolvency administration account specified in such cases and timeless: 9.1. If insolvency proceedings are recovered, the property of the debtor within five working days from the date on which the administrator has the right to dispose of the funds;
9.2. at settlement, restoration plan or amendments to the restoration plan for the approval of the Court, the settlement, in the restoration plan or recovery plan amendments within the time limits specified;
9.3. If the insolvency proceedings is forfeited property of the debtor, within five working days from the date on which the administrator has the right to dispose of the funds;
9.4. after the creditors meeting decision on costs of the vendor or, by agreement, approval of expenses of another natural or legal person means-five working days from the date on which the administrator has the right to dispose of the funds received.
10. If actual expenditures are lower than the administration of the insolvency of the assigned amount of the funds to cover it, the administrator of the unused funds transferred to the account specified in insolvency administration not later than 10 working days before the closing of the meeting of creditors.
11. If administrators change has taken place, the previous administrator, no later than the acceptance and signing of the Act of transfer point shall provide information on the administration of the insolvency administrators assigned the use of funds to cover expenses and adding supporting justification, copies of documents and, if actual costs are less than the bankruptcy administration allocated funds to cover the amount remitted to the unused monies in insolvency administration specified account.
12. the Administrator at the request of the administrators inform administrators of: 12.1. use of funds to cover expenses and adding supporting justification, as well as presenting the expenditure and justification supporting the original documents;
12.2. the action taken to recover the debtor's property and funds;
12.3. Insolvency administration opportunities to recover costs allocated funds.
III. Remuneration 13. the Administrator shall be entitled to compensation if he is registered with the State revenue service as a tax payer.
14. One of the insolvency process, the administrator is entitled to compensation of up to 860 lats, if not received by the administrator in insolvency law in article 182 remuneration.
15. If the administrator in the insolvency process is partially received the Insolvency Act 182. the remuneration provided for in article, but its size is less than this provision remuneration referred to in paragraph 14, the administrator is entitled to receive only the difference between the consideration received and the amount of this provision remuneration referred to in paragraph 14.
16. the Administrator, in addition to this provision 14. the remuneration referred to in paragraph 1 shall be entitled to 4.50 LVL for each employee in accordance with insolvency administration decision on allocation of funds to satisfy the claims of the employees have been given the means to meet the claims of the employee claims guarantee fund.
17. the Administrator this provision referred to in paragraph 16 is entitled to receive remuneration if the administrator has set the following in the recovery of employees: 17.1. submit employee claims of insolvency in the Administration application form;
17.2. honoured the insolvent employer's employees assigned funds to satisfy the claims of the employees the employee claims guarantee fund;
17.3. submit the insolvency administration in accordance with the requirements of the laws presented a report about the use of funds from the employee claims guarantee fund to meet the claims of employees.
18. Application to cover the remuneration (annex 2), the administrator shall submit the insolvency administration within two months after the debtor's removal from the register of companies. The application shall be accompanied by the following documents: 18.1. creditors meeting a copy of the decision on the refusal to cover expenses from the vendor;
18.2. the creditors meeting a copy of the decision on approval;
18.3. in closing the meeting, copies of the decision of the creditors of the outstanding remuneration;
18.4. the liquidation of the debtor and its opening balance sheet asset items, a copy of the transcript;
18.5. the liquidation of the debtor a copy of the closing balance;
18.6. a copy of a ruling on termination of the insolvency proceedings;
11.6. Register of companies a copy of the decision on the debtor's exclusion from the register of companies;
12.8. the administrator of the taxpayer a copy of the registration certificate.
19. If the application is submitted to the consideration of these provisions 18. after expiry of the period referred to in paragraph 1, the administrator of these rules 14, 15 and 16, paragraph shall not receive remuneration.
20. the insolvency administration month after the rule referred to in paragraph 18 of document receipt, shall decide on the remuneration and the extent of the insolvency administration for the current year of the funds assigned for that purpose or on the refusal to grant the money rewards.
21. If the administrator has taken place: 21.1. Insolvency administration after the defeat of the debtor enterprise register shall decide on the rules referred to in point 14 of the cover and the amount of remuneration for every administrator, having regard to the rules referred to in paragraph 18 of the application deadline.
21.2. the amount of remuneration throughout the maksātn is able to process cannot exceed this provision referred to in paragraph 14, the amount of remuneration and the remuneration of each administrator shall be determined by dividing the provisions referred to in paragraph 14, the amount of remuneration by the number of administrators who performed Admin duties;
21.3. If the administrator in the insolvency process is partially received the Insolvency Act 182. the remuneration provided for in article, but its size is less than this provision remuneration referred to in paragraph 14, the administrator is entitled to receive only the difference between the consideration received and the amount of remuneration, which according to this provision, section 21.1 and 21.2. due from insolvency administration assigned for this purpose funds;
21.4. Insolvency Administration decides on the rules referred to in point 16 of the payment of remuneration and rewards. Each administrator's remuneration shall be determined by dividing the provisions referred to in point 16 of amount of remuneration by the number of administrators who have made this provision referred to in paragraph 17 in the insolvency process.
22. the Administrator is not entitled to these rules 14, 15 and 16 of the remuneration referred to in the insolvency administration granted funds for this purpose if the administrator with the decision of the Court cancelled from Admin duties so the irregularity.
23. remuneration of insolvency administration transferred to the administrator account.
IV. Closing questions 24. Be declared unenforceable in the Cabinet of Ministers of 14 March 2006, the provisions of no. 201 "insolvency practitioner remuneration and expenses of the administration of the order" (Latvian journal, 2006, nr. 48.177. no).
25. Cash (granted in insolvency administration expenses and remuneration to cover the national budget and business risk duty features) balance used to cover expenditure and remuneration in subsequent financial years.
26. the regulations shall enter into force by 1 January 2008.
Prime Minister a. Halloween Justice Minister g. Smith Editorial Note: regulations shall enter into force by 1 January 2008.
1. the annex to Cabinet of Ministers of 11 December 2007 regulations no 865 G. Buchanan, Minister of Justice annex 2 of the Cabinet of Ministers of 11 December 2007 regulations no 865 G. Buchanan, Minister of Justice
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