The Insolvency Practitioner Remuneration And Administrative Cost Recovery Arrangements

Original Language Title: Maksātnespējas procesa administratora atlīdzības un administrācijas izmaksu segšanas kārtība

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Read the untranslated law here: https://www.vestnesis.lv/ta/id/131062

Cabinet of Ministers Regulations No. 201, Riga, 14 March 2006 (pr. No. 15) the insolvency practitioner remuneration and expenses of the administration of the order Issued in accordance with the law "on insolvency of undertakings and companies" article 24, sixth and sixth part of article 108 of the i. General questions 1. determines the procedure and, in one of the State Agency "insolvency administration" (hereinafter insolvency administration) for the current year funds allocated for this purpose is paid to the insolvency practitioner remuneration (fees) and cover the cost of the administration of the insolvency proceedings (hereinafter referred to as the cost).
2. the insolvency administrator (hereinafter referred to as the administrator) rewards its outstanding part in costing and costs borne by the outstanding part of the bankrupt, if (the company) (hereinafter referred to as the debtor) of funds or from other insolvency financing sources it is not possible to refund or to cover the costs.
II. Cost 3. judgment of the Court of Justice for a declaration of insolvency of the debtor, but if administrators change took place, after the Court decision on the appointment of an administrator for each administrator in insolvency proceedings concerned is entitled to receive from the insolvency administration funds to cover up to 200 lats.
4. the cost of the request (annex 1), the administrator shall submit the insolvency administration by adding a copy of the judgment of the Court of the debtor's Declaration of bankruptcy, but if administrators change has taken place, a copy of the Court decision on the appointment of an administrator.
5. Insolvency administration month after the rules referred to in paragraph 4 of document receipt shall decide on the allocation of funds and the amount to cover the costs of or refusal to grant funds.
6. the insolvency administrators assigned to cover the costs of the money transferred to the account of the debtor.
7. Administration of insolvency with the cash cost of the moment is the claim of the creditor against the debtor of the assigned funds. After the insolvency administration assigned to the receipt of the funds on the current account of the administrator of the debtor shall take a decision on the inclusion of the debtor in insolvency administration recognised list of unsecured creditors and five working days shall inform in writing the administration of the insolvency. The administrator provides the issue at a meeting of creditors.
8. the Administrator in writing within five working days, inform the administration of insolvency, if insolvency proceedings: 8.1 is recovered or disposed of property of the debtor;
8.2. the Court relating to the debtor is approved for an arrangement or are registered in the business register of the reorganisation plan;
8.3. the creditors ' meeting has taken a decision on the financing of the insolvency of the vendor or other insolvency financing sources.
9. the cost recovery Before the rest of the administrator in insolvency administration released the funds assigned to the account specified in the following cases and timeless: 9.1. If insolvency proceedings are recovered or disposed of 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. by arrangement for approval of the debtor or the insolvency plan registration with the register of enterprises – the composition or the time limits specified in the restoration plan;
9.3 after the creditors meeting decision on the financing of the insolvency of the vendor or other insolvency financing sources – five working days from the date on which the administrator has the right to dispose of the funds received.
10. If the actual costs are less than the bankruptcy administration allocated funds to cover the amount of administrator unused funds transferred to the account specified in insolvency administration not later than ten 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 in the use of funds allocated to cover the costs of adding costs and supporting justification document copies 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 after the administration of insolvency proceedings at the request of the financial performance report for the debtor's funds (annex 2) and the insolvency of the financial transaction report about the debtor's assets (annex 3), as well as inform the administrators of: 12.1. cash funds to cover the cost of adding the cost of supporting and justification, as well as presenting the cost of supporting and justifying 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 not more than 450 lats, if the administrator has not received the law "About companies and the companies ' insolvency ' laid down in article 24.
15. If the administrator in the insolvency process is partially received the law "on bankruptcy of enterprises and companies ' remuneration laid down in article 24, 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 Demand to cover the remuneration (annex 4), the administrator of the debtor after the defeat of the commercial register shall submit the insolvency administration, adding: 16.1. creditors meeting a copy of the decision on the refusal to finance insolvency of the vendor;
16.2. the creditors meeting a copy of the decision on approval;
16.3. concluding the meeting of creditors a copy of the decision on the outstanding remuneration;
16.4. the liquidation of the debtor and its opening balance sheet asset items, a copy of the transcript;
16.5. the liquidation of the debtor a copy of the closing balance;
16.6. a copy of a ruling on termination of the insolvency proceedings;
16.7. Register of companies a copy of the decision on the debtor's exclusion from the register of companies;
16.8. the administrator of the taxpayer a copy of the registration certificate.
17. the insolvency administration month after the rule referred to in paragraph 16 of decision on receipt of documents and payment of remuneration the amount of insolvency administration for the current year of the funds assigned for that purpose or on the refusal to grant the money rewards.
18. If you have an administrator, the debtor insolvency administration shut the register shall decide on the remuneration and the extent of the payment. The amount of the remuneration of the insolvency process, one does not exceed 14. these provisions referred to in paragraph 1, the amount of remuneration, irrespective of the number of administrators. Each administrator's remuneration shall be determined by dividing the provisions referred to in paragraph 14, the amount of the insolvency administrator. If the administrator in the insolvency process is partially received the law "on bankruptcy of enterprises and companies ' remuneration laid down in article 24, 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 by this point due from insolvency in the administration of funds.
19. The remuneration of insolvency administration transferred to the administrator account.
IV. Closing questions 20. Be declared unenforceable in the Cabinet of 10 February 2004, Regulation No 77 "insolvency practitioner remuneration and administration costs and about" (Latvian journal, 2004, nr. 24; 2005, nr. 46).
21. Requests the cost and rewards to cover these provisions submitted by the date of entry into force, if the costs and charges shall be borne by these rules after the date of its entry into force, be applicable to the Cabinet of Ministers on 10 February 2004 the provisions of no. 77 "insolvency practitioner remuneration and administration costs and about".
Prime Minister a. Halloween instead of the Minister of Justice, Minister with special responsibility for electronic Government Affairs j. Rare Editorial Note: the entry into force of the provisions by 24 March 2006.
 
 
1. the annex to Cabinet of Ministers of 14 March 2006, regulations No 201 in place of the Minister of Justice, Minister with special responsibility for electronic Government Affairs j. Rare annex 2

The Cabinet of Ministers of 14 March 2006, regulations No 201 in place of the Minister of Justice, Minister with special responsibility for electronic Government Affairs j. Rare in annex 3 of the Cabinet of Ministers of 14 March 2006, regulations No 201 in place of the Minister of Justice, Minister with special responsibility for electronic Government Affairs j. Rare in annex 4 of the Cabinet of Ministers of 14 March 2006, regulations No 201 in place of the Minister of Justice, Minister with special responsibility for electronic Government Affairs j. Rare in