Act on debt negotiation and bankruptcy (Bankruptcy Act).
Affairs Ministry of Justice
Published ISBN 82-504-1418-7
Apulië - kkl.
First part. Debt Negotiation. (§§ 1-59)
Chapter I. Opening of debt negotiation. (§§ 1 - 6a)
Chapter II. Debt Board and auditor. (§§ 7-13)
Chapter III. The impact of the debt negotiation being opened. (§§ 14 - 18a)
Chapter IV. Debt Tribunal review of the debtor's assets ratio. (§§ 19-22)
Chapter V. Voluntary debt. (§§ 23-29)
Chapter VI. Forced chord. (§§ 30-55)
Chapter VII. Gjeldsforhandlingens termination. (§§ 56-59)
second part. Bankrupt. (§§ 60-144)
Chapter VIII. Bankruptcy opening. (§§ 60-76)
Chapter IX. Precautions to be taken immediately after the bankruptcy proceedings. (§§ 77-82)
Chapter X. estate agencies. (§§ 83-99)
Chapter XI. The debtor position under bankruptcy etc. (§§ 100-108)
Chapter XII. Review and examination of claims. (§§ 109-116)
Chapter XIII. Realization of the estate's assets. Reporting and accounting. (§§ 117 - 122b)
Chapter XIV. Forced Akkord under bankruptcy. (§§ 123-126)
Chapter XV. Inference, raffles and payment. (§§ 127-134)
Chapter XVI. Bankruptcy termination. (§§ 135-139)
Chapter XVII. Special provisions for certain bankruptcy. (§§ 140-141)
Chapter XVIII. Rules that prevent bankruptcy debtors etc. in to do business in corporate form. (§§ 142 - 143a)
Chapter XIX. Registration in bankruptcy register. (§144)
Third part. Common rules for debt negotiation and bankruptcy. (§§ 145-160)
Fourth part. Cross-border insolvency proceedings, etc. (§§ 161-162)
Ref. former lover June 6, 1863 and May 6, 1899 no. 1. The Act came ikr. January 1, 1986 acc. Res. July 12, 1985 No.. 1435. See commencement order June 8, 1984 No.. 60.
First part. Debt Negotiation.
Chapter I. Opening of debt negotiation.
§ 1. Gjeldsforhandlingens purposes. A debtor who can not meet its obligations as they become due, may petition debt settlement proceedings under the rules of law to negotiate with its creditors on a voluntary debt settlement or compulsory composition.
§ 2. Petition for debt negotiation. Petition for debt negotiation be submitted in writing to the district court. It shall be stated in the petition for the debtor petitions for a voluntary debt settlement or compulsory composition. As an appendix to the petition, the debtor must give the district court:
a brief statement of the reasons for payment problems, and for how debt conceivably arranged;
a task over its assets and its liabilities, indicating creditors names, addresses and credit balances and the collateral shall be liable for the debt; a claimant lien or other similar security interest in the debtor's assets must be time for both debt's as collateral foundation stated;
an account of how the registration and documentation of accounting information is arranged.
District Court gives petition endorsement a day and time when it came to court. The petition may be withdrawn or changed as long as the court has not ruled on whether debt negotiations should be opened.
Tribunal may require the debtor gives details of any conditions that it considers relevant to the question about the opening of debt negotiation.
Court may to the extent and in the manner it deems appropriate, obtain information from the debtor's creditors and discuss debtor petition with them.
§ 3. Advance, security and responsibility for the costs of debt negotiation. The court may demand that the debtor pays appropriate advance to cover the costs of debt reorganization, which is not covered by the fees under the Act 17 December 1982 no. 86 on court fees, or provide security for these costs.
Court Fees Act § 3, third and sixth paragraphs and § 5 second paragraph applies correspondingly.
Charges debtor can not pay, the State is obliged to cover.
§ 4. The District Court's decision. Remedies. The court shall reject the application if:
it does not satisfy the requirements under § 2 and deficiencies are not corrected in time;
debtor fails to provide the additional information which the court requires;
court by the information available, finds it unlikely that the debtor will be able to achieve voluntary debt settlement or compulsory composition.
The court must make its decision as soon as possible, usually within three days after the request was received by the court.
The court will make its decision by ruling. A ruling which shall grant the request, can not be challenged on appeal. A ruling that rejects the petition, may be appealed within three days.
If the petition is granted, considered debt negotiation to be opened from the time the petition was brought into court. In cases mentioned in § 6a considered proceedings were instituted to be opened from the time the petition proceedings were instituted came to court.
§ 5. Notification of open debt settlement proceedings. If a petition for the opening of debt negotiations is granted, the court shall give the debtor written notice of the debtor's obligations pursuant to §§ 14 and 18, and about the consequences of acting against them, see § 57, second paragraph.
Court shall immediately notify Norges Bank when it has ruled on the opening of debt negotiations in institutions participating in the system specified in the Payment Systems Act § 1-1, first paragraph or § 1-2.
§ 6. Freedom through debt settlement. When a voluntary debt settlement is opened, the debt tribunal, unless the court decides to do it himself, without delay announce the opening in the Brønnøysund Register electronic bulletin for public announcements. In special cases, the court may nevertheless decide that the announcement will be omitted. Opening proceedings were instituted published in accordance with the provisions of § 35.
Court sittings held under a voluntary debt settlement or a compulsory debt is public. In special cases, the court may nevertheless decide that hearings under a voluntary debt settlement should be held behind closed doors.
§ 6a. Change in debt negotiation. After the debt negotiation is opened, the debtor may petition for change of hearing if the debt settlement committee agrees. Consent is still not required by petition proceedings were instituted when proposals for a voluntary debt settlement has been approved by creditors representing at least 3/4 of the total amount that confer voting rights. Moreover, the provisions of §§ 2 and 4 corresponding change petitions.
Chapter II. Debt Board and auditor.
§ 7. Appointment of debt tribunal. When ruling on the commencement of debt negotiation is handed down, the court shall immediately appoint a debt committee.
Debt Advisory Board shall assist the debtor under debt negotiation in accordance with the provisions of this Act and including safeguarding creditors common interests. So far as is compatible with those interests, it shall, in cooperation with public authorities contribute to the interests of the workers concerned and specific social interests of protection under debt negotiation.
Debt Tribunal shall consist of a chairman - usually a lawyer - and from one to three other members, which preferably should be among the claimants or their representatives. As far as possible, at least one of the members have proficiency in the industry debtor operates. In the case mentioned in § 8 shall appoint an employee representative as a member of the debt settlement committee; Debt Tribunal may then consist of up to five members.
When the estate is small or the right for other reasons find that debt tribunal tasks can be performed by the manager alone, the court shall not appointing more members of the Tribunal.
§ 8. The representative of the employees as a member of the debt settlement committee. If requested by a majority of the employees of the debtor's business court shall appoint an employee representative as a member of the debt settlement committee. The same applies when such a request is made by a local trade union which organizes the majority of employees in the organization or by several local unions which together organize a majority of the employees.
When ruling on the commencement of debt negotiation is handed down, the court shall immediately notify the employees of the debtor's business activity on their rights pursuant to the first paragraph.
Court may nevertheless after an assessment of the estate's position, prospects for future operations and circumstances fail to appoint such representative. The court shall then obtain the prior statement from the members of the debt settlement committee appointed at this time.
King may by regulations or decisions in individual cases make exceptions to the rule in this paragraph and provide supplementary regulations, including the application of the Rules of corporations and corporate-like conditions.
§ 9. Debt Tribunal's decision m m. Debt Advisory Board makes decisions by majority vote. In case of a tie, the casting vote.
The leader of the debt settlement committee manage all extrajudicial meetings during debt negotiations, and leading record of the proceedings and the decisions being made. Protocol signed for each meeting of all members present debt Democracy.
Debt Tribunal may, to the extent it deems appropriate, handing to the manager to make decisions on matters that are not of importance. That the manager has acted without authority may not be invoked against unsuspecting third party.
The court may at any time request that the debt settlement committee and its members will give full information about debt negotiation.
§ 10. Judicial review of the decision. The court may, on application by the debtor, a claimant or a member of debts Tribunal by order revoke or reverse decisions made by the debt settlement committee or its chairman, if the decision:
is contrary to the debtor, one Claimant or a third person's right;
is illegal in other respects;
is manifestly unreasonable.
To request must be made without undue delay. Whoever has taken the decision to set a deadline for the decision reviewed by the court. The court may grant reinstatement under the same conditions as the decision was taken during the proceedings.
§ 11. Appointment of auditor. The court shall, upon recommendation from the debt settlement committee, appoint an auditor to audit of the debtor's accounts and business, unless the court finds no objection to entrust the revision to a debt tribunal members.
§ 12. Impartiality Policy for the members of the debt settlement committee and the auditor. Member of the debt settlement committee or auditor must be appointed it as:
is related by blood or marriage to the debtor in the ascending or descending line or sideline as close as cousins;
are or have been married or engaged to the debtor, or who is the debtor's foster parent or foster child;
is or after gjeldsforhandlingens opening has been the guardian of the debtor;
's or in the last two years before the opening of debt reorganization has been in the debtor's favor, or as in the aforesaid period has served as his permanent legal advisor or accountant; this rule does not apply when selecting an employee representative member of the debt committee. The debtor is an association or a foundation, must no be appointed in the last two years before the opening of debt reorganization has been a member of the debtor's control, supervisory board or corporate assembly;
even seeking voluntary debt settlement or compulsory composition, or whose estate is declared bankrupt;
because of other special circumstances are not deemed to be sufficiently impartially.
For a member of the debt settlement committee or the auditor should generally not appointed anyone as the debtor in the last two years before gjeldsforhandlingens opening preferably used as legal or business advisor.
Member of the debt settlement committee or auditor shall not participate in the consideration or decision of any question that this has a prominent personal or financial interest in.
§ 13. Revocation of appointment. If a member of the debt settlement committee or auditor later in a position that would have precluded the appointment, the court at the request of the debtor or of a claimant or on its own initiative revoke the appointment and appoint another.
The same applies when the court finds that the person appointed, has not proved fitter or other reasons not to do service.
Before decision is taken, it shall be given the opportunity to comment.
Chapter III. The impact of the debt negotiation being opened.
§ 14. The debtor is subject to debt tribunal supervision. During debt reorganization container debtor disposal of its business and its assets other matters, but under debt tribunal supervision. The debtor is required to provide debt Tribunal full access to supervise its business practices and its financial affairs, and to abide by the orders Tribunal provides in this regard.
The debtor must not without debt tribunal permission staple or renew debt, make pledge or dispose of or lease out their real estate, their business premises or any asset of significant importance. Upon renewal of bills or debentures should be noted that the signature communicated "to renew without increased responsibility."
If the debtor is employed and the business will operate under debt negotiation duty debtor to submit an operating budget and a financing plan for the debt settlement committee.
§ 15. The debtor is authorized externally. Validity of the debtor's transactions are in relation to bona fide third parties not contingent that they are undertaken with the permission of the debt settlement committee.
If a third party was not in good faith, he or she has no right to make any claim against the debtor or to receive coverage from the debtor until after debt negotiation is completed, and an adopted voluntary debt settlement or a compulsory debt is liquidated or fulfilled.
§ 16. Limitation to open bankruptcy. If a bankruptcy petition has been submitted, but not taken into account at the time when the debtor's petition for the opening of debt reorganization is filed with the court, the treatment of the bankruptcy petition subjected to the petition for the opening of debt negotiation is revoked or enforceable off or debt negotiation is enforceable adjusted or terminated.
If a bankruptcy petition is submitted after the debtor's petition for the opening of debt settlement was filed to the court, but before the petition for the opening of debt negotiation is revoked or legally settled, treatment of the bankruptcy petition be postponed until after the latter times. This does not apply when the bankruptcy petition is filed by a claimant whose claim arises from the time after the petition for the opening of debt settlement was filed to court.
If a voluntary debt settlement is decided to open, the debtor stay not be subject to bankruptcy proceedings at the request of a claimant whose claim arises from the time before the debt negotiation was opened. This does not apply when there are more than three months after the debt negotiation was decided opened, submitted a bankruptcy petition or petition filed a bankruptcy petition if treatment is deferred pursuant to the first paragraph. The court may in special circumstances extend the deadline when debtor asks for it, and there are good views to the debtor will be able to achieve voluntary debt or reopen proceedings were instituted. The court's decision the question of extension of the deadline can not be appealed.
If proceedings were instituted is decided to open, the debtor stay not be subject to bankruptcy proceedings at the request of a claimant whose claim arises from the time before the compulsory debt settlement was opened and that no reasons for the agreement signed with debt tribunal permission or approval . The provisions of subsections apply correspondingly.
A bankruptcy petition brought by at least three dividends eligible claimants whose claims make up at least 2/5 of the known dividend eligible receivables total amount, may be pursued, notwithstanding the provisions of the preceding paragraph. The same applies to a bankruptcy petition put forward by the debt negotiation is enforceable adjusted or terminated.
§ 17. Limitation to take disbursements and carry out the compulsory coverage. Relations with panthaverne. Unless otherwise specified, it can not under debt negotiation be levied debtor estate for debts arising from the time before debt negotiations were opened. The provisions of § 16, first, second and fourth paragraphs apply correspondingly; processing a claim for repayment shall not be postponed further than the request for the opening of debt negotiation is legally settled.
In the first six months after the debt negotiation is open, forced payment of the debtor's assets pursuant to the Enforcement Act, chapter 8 to 12 not implemented without debt tribunal consent.
Assets debtor acquires after debt negotiation is opened, are not without debt tribunal consent of liens established before the opening date.
Debtor may with debt tribunal consent dispose of goods pledged inventories and operating equipment as mentioned in the Mortgage Act §§ 3-4, 3-8, 3-9 and 3-10, if this occurs within the context of the debtor's ordinary business activity and mortgagee's security is not is materially impaired. The court may at the request of a mortgagee prohibit sales that do not meet the terms of the first sentence.
Debt Committee shall prepare a plan for safeguarding the mortgagee's interests and may in this connection decide that the mortgagee shall receive a share of the proceeds from the sale as stated in the fourth paragraph.
§ 18. The debtor's disclosure. The debtor has a duty to assist the court, the debt settlement committee and the auditor to obtain all information relevant to the debt negotiations, including whether their business practices, their economic conditions and their future prospects.
Court may where it deems it necessary, impose debtor to provide information as specified in the first paragraph, even if the debtor thereby have obvious trade or business secret. The court may then decide that information should only be granted to the person or to one or more of debt tribunal members.
§ 18a. Accountant and auditor assistance duty. The debtor's accountant and auditor is obliged to disclose to the debt settlement committee's accounts and records relating to the debtor. This applies even if the remuneration for work done is not paid. Debt Tribunal claim action is especially enforceable by the Enforcement Act Section 13 Accountant and auditor also obliged gratuitously assisting debt negotiations committee with information about the debtor's accounting and business practices. Assistance obligation under this section may be fulfilled unimpeded by any confidentiality.
Chapter IV. Debt Tribunal review of the debtor's assets ratio.
§ 19. Notification of creditors. Debt Tribunal shall promptly notify each of debtor's known creditors that the debtor has opened debt negotiation and who are appointed as members of the debt settlement committee. Meanwhile encouraged creditors within three weeks to submit to the Tribunal an itemized statement of their claims against the debtor. On a mission to accompany the documents that serve as proof of the receivables, and information must be provided about the receivables process, on the collateral of the debtor or the third person who had to issue for them, and if there is solidarity medforpliktede.
If it opens proceedings were instituted without prior negotiation for voluntary debt settlement, it shall be in the direction also disclosed time and place of the claimant meeting, ref. § 38a. If the court has determined that it should not be held Claimant meeting shall be disclosed.
§ 20. Financial statements and business practices are reviewed. The assets are valued. Debt Committee in cooperation with the auditor as soon as possible reviewing the debtor's accounts and business and seek to establish an exhaustive list of the debtor's assets and liabilities. Includes debtor commercial sales to consumers, it must be particularly ensured that the debtor's statement of liabilities in connection with claims and guarantees for consumer goods is barely possible exhaustive.
Debtor's assets be valued. As far as possible, be stated the value the assets assumed to have if the debtor's business will continue, and what assets collected or shared, you are expected to obtain from disposal. Requires valuation specific expert knowledge, or will the debt settlement committee for other reasons not even perform it, the Tribunal may summon one or more experts aides. § 12 applies correspondingly to such intermediaries.
§ 21. Debt Tribunal's report. When debt Tribunal has acquired the necessary information on the debtor's circumstances and find that there are views that the debtor will be able to achieve voluntary debt settlement or compulsory composition, it shall prepare a report, which among others shall include:
a list of the debtor's business practices with information on how the registration and documentation of accounting information has been and of the circumstances that have led to debt negotiation. The dashboard should be consumed debtor last two annual accounts and annual reports (status, management accounts) and also a statement of turnover;
a list of estate position, with information including whether the debtor kausjon- and swap obligations, the encumbrances of the debtor's assets and how the assets are valued;
information about the debtor's marital property matters;
information concerning the debtor is believed to have made transactions that can be reversed in the event of proceedings were instituted or bankruptcy, and if it is held enforcement proceedings against the debtor that in this case will be ineffective;
information about the debtor has previously applied for voluntary debt settlement or been under proceedings were instituted or bankruptcy, in case stating the dividend claimants obtained;
information about the debtor has previously been guilty of criminal offenses in connection with an economic activity, and whether it must be assumed to exist circumstances that may give rise to criminal prosecution against him in connection with such activities. The debtor is an association or a foundation, be provided with information about the business manager or director is believed to have been guilty of such a relationship.
If a special auditor is appointed, enclosed this report.
Finds Debt Tribunal that it may be due to prosecution of the circumstances mentioned in subsection. 6, the letter will be forwarded to prosecutors. Debt Tribunal should to the extent necessary to give the prosecution notice of possible offenses also at an earlier date.
§ 22. Preparation of proposals for a voluntary debt settlement or compulsory composition. If the debt settlement committee finds that there are views that the debtor will be able to achieve voluntary debt settlement or compulsory composition, it shall on the basis of the information obtained, help the debtor to prepare a proposal for such a scheme. If the proposal requires that the debtor's business will operate, must the opportunities for profitable operations in the future to the extent necessary be investigated. Debt Tribunal may set as a condition for recommending the proposal that specific measures should be implemented and that the provisions of this incorporated into the proposal.
If debt Tribunal finds that there is a view that the debtor will be able to achieve voluntary debt settlement or compulsory composition, the debt settlement committee submit a report to the court about the relationship, cf. § 57 first paragraph. 1. The same applies if the debtor does not within a reasonable time has put forward proposal for voluntary debt settlement or compulsory composition.
Chapter V. Voluntary debt.
§ 23. The proposal's content. A voluntary debt may inter alia go out for:
deferral (voluntary moratorium)
percentage reduction of debt (a voluntary arrangement)
liquidation of the debtor's assets or a defined part thereof, without the debtor is released for the part of the debt that is not covered by the liquidation (voluntary liquidation)
liquidation of the debtor's assets or a defined part thereof, against the debtor will be released for the part of the debt that is not covered by the liquidation (voluntary liquidation chord), or
a combination of these arrangements.
The proposed debt settlement must include and equate all known claims against debtor arising from the time before debt negotiations were opened.
Following claims can be kept outside the scheme or, if they are included, tilsis better coverage than the other receivables:
receivables that have statutory rights,
receivables secured by lien or other security interest in the debtor's assets, in so far as the security is assumed to cover the claim,
receivables that may be required settled by offsetting so far as they are covered by the counterclaim, and
receivables accruing to the claimant if the total claim is less than a certain amount as stated in the proposal.
Provisions of the second paragraph does not preclude individual claimants consent worse position than the other creditors.
§ 24. Distribution of the proposal. Deadline. When the debtor has prepared a proposal for debt settlement, and debt Tribunal finds that ought to promote it, the Tribunal shall send the proposal to all claimants whose claims covered. The proposal shall follow:
the report referred to in § 21,
debtor declaration that all the debtor owns and owes stated and
debt tribunal opinion whether it recommends the proposal passed, the view and the security that has that proposal will be met from the debtor side, on the conditions that the board has set for recommending the proposal, and how estate position assumed would be in case of bankruptcy.
Claimant encouraged simultaneously to within a time limit which must not be shorter than two weeks and no longer than three weeks to notify debt committee in writing if they approve the proposal.
§ 25. Adoption of the proposal. The proposed debt settlement is deemed adopted when it has been accepted by all claimants whose claims covered by the proposal.
If the proposal by the end of the deadline under § 24 subsection has not been accepted by all of these claimants, but neither has been rejected by some of them may Debt Tribunal encourage those claimants who have not responded to within two weeks to register whether they accept the proposal. The invitation must be sent by registered mail or by electronic communication where it is used an adequate method to ensure that the message is received. In the call should creditors be made aware of the provision in the third paragraph. The invitation shall in such case be sent out immediately after the deadline § 24 subsection has expired.
When it is sent out solicitations as mentioned in the second paragraph, and the deadline has expired without any of the creditors have rejected the proposal, will be considered for adoption if it is accepted by the claimants jointly representing at least 3/4 of the total nominal value of the claims that the proposal includes.
§ 26. New proposals. If the proposal for voluntary debt is not adopted, and the debtor prepares a new proposal that debt Tribunal finds that there is a good view to adoption, the Board shall submit it to the creditors in accordance with the provisions of § 24, but without the annex mentioned in § 24 first paragraph. 1 and 2. the provisions of § 25 shall apply accordingly. Further proposals may be made.
§ 27. Notification of the adopted proposals. When a proposal for debt settlement is adopted, the debt settlement committee communicated to all claimants who are not promised full compensation for claims arising from the time before the debt negotiation was opened.
Debt Tribunal shall simultaneously send RS:
it adopted proposals for debt settlement, with an endorsement of how the proposal has been adopted;
the Annex mentioned in § 24 first paragraph.
Court shall cause the proposal with endorsement shift protocol, indicating when it came to court.
§ 28. Invalid moratorium and chord. If a voluntary moratorium, a volunteer chord or a voluntary liquidation chord capable brought by:
debtor intentionally or negligently provided incorrect or incomplete information about their assets or liabilities, or
debtor or a third party with the debtor's complicity in breach of the debt settlement and preconditions for it has given or promised one or more claimants special advantages,
Lose debtor towards all the creditors who have not known about the relationship, the standing that were admitted, and the debtor is obliged to pay for these claimants also those parts of the claims that were remitted by the chord.
A claimant entitled under the preceding paragraph barred one year from the day when he learned the facts which gave him the right to attack the debt settlement, but may in no case be invoked if the court is not acknowledged or asserted by legal proceedings no later than three years after the debt negotiation is terminated.
§ 29. Defaulted chord. If a debtor has received a voluntary arrangement or voluntary liquidation chord, but is subject to bankruptcy before the job is met, a claimant who has not received their full claim by chord, given bankruptcy dividend of receivable entire primeval amount. The claimant may still not be paid more than their resttilgodehavende after chord. The claimant can not possibly require some outlays in the bankruptcy estate before the other creditors are paid as many percentages the received chord installment amounts.
Provisions of the first paragraph and the first and third sentences apply correspondingly for claimants who according to § 28 are not bound by the chord.
Chapter VI. Forced chord.
§ 30. What a compulsory composition can walk out on. A compulsory composition can walk out on:
deferral (legal moratorium)
percentage reduction of debt (general compulsory composition)
liquidation of the debtor's assets or a defined part thereof against the debtor is released for the part of the debt that is not covered by the liquidation, yet so that the debtor must guarantee that coverage will at least constitute a certain percentage of debt (compulsory liquidation chord), or
a combination of these arrangements.
A general compulsory composition must go out on payment of at least 25 per cent of the ordinary claimants receivables.
By a forced liquidation chord debtor must guarantee that the general creditors receive a specified minimum coverage, which must be no lower than 25 pct.
Provisions of subsections shall not apply where chord proposal is adopted by all known voting claimants or if the debtor's insolvency is caused by accidents that can not be imputed to him.
A compulsory composition can walk out that any Claimant's total receivables to be covered fully up to a certain amount. The provisions of the preceding paragraph shall apply in that case, the excess part of overpaid garden areas.
A compulsory composition can only go out on coverage for priority claims when the ordinary creditors have promised full coverage.
§ 31 Lapse of mortgages. By compulsory composition lapses mortgages that are beyond the collateral estimated value.
Debt Tribunal shall valuation of collateral. A mortgagee with security outside the collateral estimated value can bring the valuation to court with a request that it be held probate valuation. The cost of changing the valuation carried by the mortgagee if the debt tribunal valuation maintained or changed by less than 10 percent. Otherwise the Consolidation Act § 125 second to fifth paragraphs accordingly. In special cases, the court may waive the rates of remuneration of discretion members that otherwise applies to probate valuation.
§§ 32 to 34. (Repealed by Act 3 September 1999 No.. 72 (ikr. January 1, 2000 acc. Res. September 3, 1999 No.. 983).)
§ 35. Announcement of the proceedings were instituted is opened when proceedings were instituted is opened, the debt tribunal, unless the court decides to do it himself, without delay, issue a notice shall contain:
notification that the debtor has opened proceedings were instituted;
requesting creditors within three weeks to submit to the debt settlement committee an itemized statement of their claims against the debtor. On a mission to accompany the documents that serve as proof of the receivables, and information must be provided about the receivables' basis, if the collateral of the debtor or the third person who had to issue for them and if there is solidarity medforpliktede. Do it before the compulsory debt settlement has been a voluntary debt settlement, communicated the same time that claims already notified to the debt settlement committee need not be reported again;
listing for hearing of a claimant meeting, ref. § 38a, or information that the court has decided that there should be held such a meeting.
Announcement will be published in the Brønnøysund Register electronic bulletin for public announcements.
Do it before the compulsory debt settlement has been a voluntary debt settlement, a copy of the announcement sent without delay to all known creditors.
Anyone who has a legal interest in the bankruptcy proceedings, has the right to familiarize themselves with the list of claimants who were attachments to the debtor's petition for the opening of debt negotiation, cf. § 2, first paragraph, third sentence, no. 2, and with receivables reviews .
§ 36. Probate mm of message that the proceedings were instituted is opened Notification that the debtor has opened proceedings were instituted, shall, at the request of the debt settlement committee judicially or registered in:
Because book and similar real registers, insofar as the debtor owns real estate or other registered assets,
a securities register, if it is registered rights which that debt Tribunal believes belongs to the debtor, and
enterprises, if the debtor's business name is introduced there.
Debt Tribunal shall forward the notification of the opening of proceedings were instituted for the banks and similar institutions where the debtor has deposits.
§ 37. Notification on disputed receivables If a reviewed receivable wholly or partly disputed, the debt settlement committee without delay notify the claimant and to make the person aware of the provisions of § 47, second paragraph. The notification must be sent by registered letter or by electronic communication where it is used an adequate method to ensure that the notification is received.
§ 38. Rescission. If the debtor's disposition is voidable by law of Claims Chapter 5, can omstøtelseskravet be invoked by the debt settlement committee.
Chord may compromise proposal made conditional on action to reverse the debtor's disposition shall be instituted or continued for the debtor's expense after debt tribunal or overseer's closer determination.
§ 38a. Claimant Meeting. It shall proceedings were instituted held a claimant meeting under the leadership of the debt settlement committee. The meeting POSTPONED debt tribunal, unless the court decides to do it himself. The meeting should be held no earlier than four weeks and shall be held no later than eight weeks after the announcement according to § 35 is issued.
Further claimant meetings may be held if the debt settlement committee finds necessary. Invitations are sent to all known creditors. If debt Tribunal has no misgivings, the listing for hearing of a claimant meeting the previous meeting three instead summons.
The court may decide that it should not be held Claimant meeting. The decision may be reversed.
§ 39. The debtor's obligation to attend. The debtor is required to be present on the claimant meetings and any voting meeting, unless the debtor has valid absence or authorized by the debt settlement committee to be absent.
§ 40. Dispatch of compromise proposal. The referendum. Debt Tribunal shall send the debtor's proposal for compulsory composition to all known claimants with a deadline at least two weeks for written answer to the debt settlement committee. The proposal shall follow:
the statement referred to in § 21,
the list referred to in § 41,
debtor declaration that all the debtor owns and owes stated and
Debt tribunal opinion whether it recommends the proposal passed, the view and the security that has that proposal will be met from the debtor side, on the conditions that the board has set for recommending the proposal, as well as on how the estate's position is expected to be in the event of bankruptcy.
The court may, on application by the debt settlement committee may decide to vote on the debtor chord suggestions in a voting meeting. If it is decided on voting meeting, the proposal and the appendices mentioned in the first paragraph. 1 to 4 are sent to the creditors at least two weeks before the meeting stating the time and place of the meeting.
If a claimant before proceedings were instituted was opened, has been for compromise proposal, which later has not been altered, considered the claimant to retain its adoption, when not subsequently been revoked.
Recalls an acceptance must be by a written statement sent to debt tribunal within the prescribed voting period or possibly delivered in a voting meeting.
If the adoption or the revocation is accomplished by a representative who has not submitted satisfactory credentials for his authority to commit the claimant must adoption or revocation accepted provided that satisfactory credentials submitted within the prescribed voting period or on any voting meeting.
§ 41. Claimant List. Before the vote shall Debt Tribunal prepare a list of the reported claims, incurred the information needed to determine whether the claims should be taken into account when voting. Is a claim wholly or partially contested, should note whether this is done on the list.
For receivables which under the proposal will receive full coverage, cf. § 30 fifth paragraph, it is sufficient to state receivables' overall amount. The same applies to other groups of receivables that obviously will not be significant for the poll.
When someone in connection with the vote disputes a listed claim or believe that a receivable has been recorded with an insufficient amount or unjustly omitted, making debt Tribunal note about it in the list.
§ 42. Receivables not confer voting rights. By voting on compromise proposal, all known claims are included, although they are not reported to the debt settlement committee. Nevertheless, the following claims are disregarded:
receivable chord under § 55 will not be binding. If a claim secured by a lien or other security interest in the debtor's assets, the claimant to exercise voting rights for the portion of the claim that the security are not expected to provide coverage for, or - if the claimant expressly waived its right for a larger portion of the claim - then for this part. A receivable which is equipped with statutory rights, voting rights to the extent preferential right expressly waived;
receivables that are dependent on a condition not yet occurred;
receivables that have been transferred to the claimant after debt negotiation was opened. This does not apply when the claimant through the acquisition were unaware that a petition for the opening of debt settlement was filed with the court or if the claimant has taken over the claim in accordance with a prior commitment;
receivables belonging to the debtor's close associates, cf. Act of Claims § 1-5;
receivable or part of the claim to be covered fully in accordance with the chord proposal, cf. § 30 subsection;
after lien which ceases when the piecework.
§ 43. Required majority by the adoption of the compromise proposal. If chord proposal is to pay at least 50 percent of creditors is due, it is considered adopted when it is approved by at least 3/5 of the claimants who participated in the poll, and they represent at least 3/5 of the total amount with voting .
Going proposal on paying less than 50 percent of creditors claim requires a 3/4 majority in both respects.
Applicable mendation liquidation chord requires a 3/4 majority in both respects. If the debtor has ever been that claimants receive a minimum dividend of 50 percent or more, however 3/5 majority enough.
§ 44. New chord suggestions. Have debtor chord proposal failed to achieve the necessary majority in a written ballot, the debtor can only promote a new chord suggestions if debt Tribunal finds itself unable to recommend the proposal. The new proposal will be submitted immediately creditors, with debts Tribunal recommendation attached and including a new voting deadline. The new deadline must not expire later than three weeks after the original ballot deadline.
Debtor may not make any further changes to the compromise proposal after it is sent claimants.
If the debtor in a voting meeting will make changes in the composition proposal, and debt settlement committee after hearing of those present opinion, finds itself unable to recommend the amended proposal, it shall schedule a new meeting for consideration and vote on the proposal. The meeting shall be held within three weeks. Notice of meeting shall be submitted immediately creditors, with the proposal and debt tribunal statement on this attached.
In the new poll meeting the debtor may not make any change in the composition proposal.
§ 45. Explanation of vote submitted court. Debt Tribunal shall within one week after the vote to send the court a statement of the result of the vote, opinion whether it is believed to be no circumstances that would preclude vindication of the chord. The statement shall be accompanied by:
credentials that the compulsory debt settlement has been announced and confirmation that the creditors have been notified of the vote in accordance with the Act;
debt tribunal forhandlingsbok;
the list of creditors referred to in § 41, attached claim reviews and the documents available on disputed or unclear receivable;
debtor final chord suggestions and creditors acceptance;
other documents that may have been submitted in connection with the vote, and the protests that had to be obtained from the affirmation of the chord.
§ 46. Vindication meeting. Hearing to the question of ratification of the agreement shall be held within three weeks after the court has received debt Tribunal report on the outcome of the vote.
The meeting convened debtor and the debt settlement committee. Unless it is clear that the necessary majority to amend these compromise proposal exists, summoned creditors. The court may order the debt settlement committee to provide notice of the creditors. The debtor shall be summoned in the manner and with as much notice as provided in § 70. The debtor is required to attend the meeting if he or she does not have valid reasons for absence or has obtained the court's permission to be absent.
If it turns necessary to obtain further information, the court may stay the proceedings until a later hearing, which should be held within two weeks.
Tribunal under this section is not subject to appeal.
§ 47. Voting Disputes. Provisions for disputed claims. If there is a dispute or confusion about whether or what amount a claim shall give voting determines the right question so far as is necessary to determine the outcome of the vote. Before the court takes standpoint, it may decide to seek additional information. The decision taken in connection with the decision of the issue of vindication and can only be appealed together with this. The decision has effect only for the question of the claimant's right to vote.
When competent claimant requires, the court may decide that the dividend falling on a disputed claim or the contested part of a claim shall be inserted in the bank on a separate account managed by the court. The court shall then simultaneously put the claimant a deadline to bring proceedings. If legal proceedings are not brought within the deadline, the court shall release the funds to the debtor unless otherwise stated in the chord.
§ 48. Cases where vindication should be denied. The court shall refuse to vindicate chord:
when the rules concerning the procedure for debt negotiation have not been complied with, and the court finds it likely that the error has been crucial for the adoption of the chord;
when compromise proposal involves payment of less than the prescribed minimum dividends, or has not been approved by the necessary majority, cf. §§ 30 and 43;
when the chord will not give equal rights of all general creditors as it will be binding on, and that has not agreed to stand back;
when it turns out that there are circumstances referred to in § 50 no. 1 and 2, and which have not been reported claimants before the vote, provided the offense is likely to have had a decisive influence on the outcome of this.
§ 49. Cases confirmation may be denied. The court may refuse to confirm chord:
when the debtor refuses to provide the information the court needs the decision, or without a valid reason absent from creditor meeting, voting meeting or validation meeting;
If the court is satisfied that the debtor during the last three years before the opening of debt negotiation or later has been guilty of criminal offenses in connection with economic activities. The debtor is an association or a foundation, can vindication denied if the business manager or director of the aforesaid period has been guilty of such offenses to the debtor's advantage or on the debtor's behalf.
§ 50. Cases confirmation may be denied the request. Following a request by the debt settlement committee or of a claimant who in the case will be bound by the chord, the court may refuse vindication:
when it is shown that the chord is brought about by the claimant has been favored or had been promised beneficiary, either by the debtor or by a third party;
when it is shown that chord does not agree with creditors common interests as eg:
the dividend is offered, are prominent disproportionate to the debtor's payment options, or
they claim amounts to be covered in full in accordance with the chord proposal, cf. § 30 fifth paragraph, is so significant that it involves an unreasonable bias of creditors, or
the payment dates that are set, causes a postponement of the payment that goes beyond it's reasonable or
there is no reasonable prospect of the chord will be fulfilled.
§ 51. Supervision of the fulfillment of the chord. If the court deems it necessary, it may make it a condition for the affirmation that the debtor submits to supervise the fulfillment of the chord.
Supervision is exercised by one or more of debt tribunal members or of one or more other persons appointed by the court. Authority shall ensure that the debtor aligns its business practices so that the debtor timely get their disposal the resources needed to fulfill the chord and the debtor conducts the measures debt committee has set as a condition for recommending chord. Authority will further endeavor to prevent any claimant receives coverage to the detriment of others. The debtor is required to provide full access to the audit of its business practices, and to abide by instructions from the FSA in this regard provides.
The provisions of §§ 10, 12 and 13 shall apply correspondingly to the audit.
§ 52. Vindication ruling. Appeal. The court decides the issue of vindication by court, which should avsis within a week after confirmation meeting. If chord means that mortgages entirely or partly void, cf. § 31 shall vindication ruling contain an accurate indication of the extent to which pantheftelsene lapses.
A ruling confirming chord, can be appealed by the debtor and any creditor who will be bound by the chord. The debtor shall continue to be under debt tribunal supervision until the ruling has become final and enforceable.
If the district court or the appellate court refuses vindication, it will simultaneously take the decisions referred to in § 57.
§ 53. Notification and publication of the vindicated chord. If the court confirms the chord, the debt settlement committee immediately communicated to all known creditors who are not promised full coverage.
When vindication ruling has become enforceable shall Debt Tribunal announce chord in the manner prescribed in § 35 second paragraph and ensure that notification under § 36 paragraph. 1, 2 and 3 will be deleted, and that the notification of termination of the compulsory debt settlement is recorded on the companies Register if the debtor's business name is introduced there.
If chord means that mortgages registered in a legal protection registry completely or partly void, the debt settlement committee immediately vindication enforceable, ensure that the ruling registered. Upon pledges or mortgages on simple requirements, notification about the demise given to persons who possess the collateral or the debtor's claim.
§ 54. Determination of supervision struck by vindication. If requested by a claimant and the court finds special reason for it, it can also after the job is confirmed, determine the debtor shall be subject to supervision until the job is fulfilled.
The court will make its decision by ruling after the debtor has been given an opportunity to express themselves. A ruling which shall grant the request, may within three days to appeal the debtor. A ruling that rejects the petition, can not be appealed.
Provision in § 51 subsections apply correspondingly.
§ 55. Who chord is binding. The vindicated chord is binding on all creditors if receivables arising from the time before the opening of debt negotiation. This chord is still not binding:
receivables that have statutory rights;
Receivables secured by lien or other security interest in the debtor's assets, to the extent that the claim falls within the collateral estimated value;
receivables that may be required settled by offsetting so far as they are covered by the counterclaim.
§§ 28 and 29 apply correspondingly to the compulsory composition.
Chapter VII. Gjeldsforhandlingens termination.
§ 56. Setting the debt negotiation with creditors consent. The court shall suspend debt negotiation by court order when the expiration of the deadline under § 19 requested by the debtor, and written consent is obtained from all known creditors, except creditors whose claims are or offered secured by reassuring surety, lien or other similar security right.
§ 53 shall apply mutatis mutandis, the second paragraph, however, only where it has been announced that the debtor has opened proceedings were instituted.
§ 57. Setting failed debt negotiation and bankruptcy. The court shall suspend debt negotiation and open bankruptcy debtor stay:
if the court report from debt Tribunal finds that there is a view that the debtor will be able to achieve voluntary debt settlement or compulsory composition, or that the debtor does not within a reasonable time has put forward proposals for a voluntary debt settlement or compulsory composition, cf. § 22 second paragraph;
when it is opened a voluntary debt settlement and the court rejects the debtor change petition for the opening of proceedings were instituted, cf. § 6 a;
when the court refuses to vindicate one compulsory composition, cf. § 52;
when debt negotiation is not completed within six months from the opening or within an extended deadline set by the court at the request of the debt settlement committee.
The court may at the request of the debt settlement committee suspend debt negotiation and open bankruptcy debtor stay when the court finds that the debtor seriously or repeatedly acted against their obligations under §§ 14 and 18.
The court will make its decision by ruling. Before the court making an order, the debtor shall be summoned to a court hearing in the manner and with as much notice as provided in § 70. On appeal, the ruling applies to § 72 subsection accordingly.
§ 58. Time of gjeldsforhandlingens termination. Debt negotiation is deemed concluded:
when the court receives notification that the debtor has received voluntary debt settlement, cf. § 27;
when the debtor has received compulsory composition was confirmed by an enforceable ruling, cf. § 52;
when it is ruled on setting the debt reorganization under § 56, and the ruling has become final and enforceable;
when it is ruled on setting the debt reorganization under § 57 without the bankruptcy has been opened, and the ruling has become final and enforceable.
§ 59. In the event that the debtor dies during debt negotiation. If the debtor dies before ruling on bankruptcy have been delivered pursuant to § 57 or before debt negotiation deemed concluded, cf. § 58, the debt negotiation is set and the debtor stay treated in accordance with changing legislation.
Second part. Bankrupt.
Chapter VIII. Bankruptcy opening.
§ 60. Bankruptcy on the basis of insolvency. The debtor is insolvent, should their stay be subject to bankruptcy proceedings at the request of the debtor or a claimant.
§ 61. Insolvency. The debtor is insolvent when it is unable to meet its obligations as they become due, unless insolvency must be presumed to be temporary. Insolvency is nevertheless not in when the debtor's assets and revenues totaling believed to be able to provide full coverage for the debtor's obligations, although the fulfillment of the commitments will be delayed by that coverage must be sought on sale of assets.
§ 62. presumption of insolvency by the debtor's recognition etc. Recognizing the debtor to be insolvent, or the debtor has stopped payments, or have it by execution or attachment during the last three months before the bankruptcy petition was filed not been achievable coverage of the debtor, insolvency believed generally to exist.
§ 63. presumption of insolvency through bankruptcy notice. If the debtor has a statutory obligation to produce accounts or have had such a statutory obligation in the last year before the bankruptcy petition was filed shall insolvency generally presumed to exist when the bankruptcy petition of a claimant who demonstrably have demanded debtor for obvious overdue debt and that at least 4 weeks then have let preach to the debtor as an invitation to pay within two weeks. Bankruptcy petition must in case be brought into the court during the first two weeks after the payment deadline expires.
In the payment request to be served to the debtor shall debtor made aware of the claimant's right to petition for bankruptcy opened if payment is not made by the deadline, and that the insolvency of the treatment of the bankruptcy petition generally be assumed to exist when the claimant has gone takeover provisions of this section.
§ 64. Collateral and bail as bankruptcy obstacle. Bankruptcy should not be opened at the request of a claimant if:
claimant's claim is secured by adequate collateral to the debtor's assets;
claimant's claim is secured by adequate collateral to the third person, and the bankruptcy petition is contrary to the terms of the collateral;
claimant's claim is not yet fallen and is secured or protected by adequate security interest in property of third parties.
If the court only under doubt find that it is led sufficient evidence of the existence or extent of the claimant's claim, the bankruptcy denied opened if the claim is secured or protected by adequate security interest in property of third parties.
Equated with liens are other similar security right. Equated with liens in third person is a surety.
§ 65. Bankruptcy as a result of the debtor's dereliction of duty under compliance with a compulsory composition. If a debtor who has received compulsory composition, which has been under the supervision of the fulfillment of the chord, grossly or repeatedly acted against their obligations under §§ 51 or 54, the court shall open the bankruptcy of the debtor stay at the request of the audit when it is not clear that the debtor can still fulfill chord.
§ 66. Further rules on the bankruptcy petition. Petition for bankruptcy must be submitted in writing to the district court and specify the circumstances in the petition is based.
Craves debtor bankrupt opened, it must be annexed to the petition give RS:
a task over its assets and its liabilities, indicating creditors names, addresses and credit balances and the collateral shall be liable for the debt; if a claimant has a lien or other similar security interest in the debtor's assets must be time for both debt's as collateral foundation stated;
an account of how the registration and documentation of accounting information is arranged.
§ 67. Advance payment of deposit as security for the costs of the bankruptcy proceedings. Whoever desires bankruptcy opened in accordance with §§ 60 to 63, will by filing the bankruptcy petition pay into court an amount equal to the maximum liability for the costs of the bankruptcy proceedings under § 73. The amount serves as collateral for this responsibility, and can also be used to cover of costs incurred prior to the realization of the assets of the estate, if there among the debtor's assets are insufficient account funds for this purpose.
Court Fees Act § 3, third and sixth paragraphs and § 5 second paragraph applies correspondingly.
Court may grant exemptions from the rule of collateral under subsection when bankruptcy petition opened by public authorities or otherwise must be assumed to be a significant public interest in the bankruptcy proceedings be instituted.
It shall not be security under subsection when bankruptcy petition opened by the debtor or an employee with preferential claims by Claims Act § 9-3 or a coverage justified demands for wage guarantee Act § 1 fourth paragraph. 1 and no. 2, first sentence.
§ 68. Revocation of the bankruptcy petition. A bankruptcy petition may be revoked as long as the court has not ruled on whether bankruptcy should be opened.
§ 69. More bankruptcies. A petition for bankruptcy a debtor stay can be determined even if an earlier lodged a petition for the same has not yet been finally decided.
§ 70. scheduled for hearing. Notice of the debtor and the consignor. Once the court receives a petition for bankruptcy, it shall give the petition endorsed by day when it came to court.
Hearing to the question of bankruptcy held as soon as possible after the request is received by the court and barely made within one week.
If the bankruptcy petition is filed by the debtor, the court may summon him to the hearing. In other cases, notice of the hearing shall be served by at least two days' notice to the debtor and for the person who made the request. The petition shall be served simultaneously for the debtor. Preaching to the debtor may be omitted if it had to happen under the provisions of the Courts Act §§ 180 and 181.
§ 71. Postponement of the hearing. Exchange of pleadings. The court may by order delay processing of a bankruptcy petition to a later hearing when it finds it necessary that it can be obtained additional information, because there is reason to believe that the debtor has valid absence, or for other similar reasons. The new hearing must normally be held within a week. Notice of meeting shall be served to the debtor and applicant with at least two days' notice. New postponement can only be decided where conditions make it particularly necessary.
If the court finds that a petition for bankruptcy traveling factual or legal issues that should be examined further, it may by order decide that the parties should be allowed to file pleadings. The deadline for filing pleadings must not normally be over four days, and all pleadings should be received by the court within two weeks.
The rulings of this section can not be challenged on appeal.
§ 72. Bankruptcy decree. Appeal. The court must immediately pronounce a verdict on whether bankruptcy should be opened. The timing of the making of the order noted in the court records.
Bankruptcy decree may be appealed by any affected by the decision. On appeal the ruling on bankruptcy should also be estate party. The appeal does not have suspensive effect, but before a ruling on bankruptcy has become enforceable, it should generally not made other dispositions of guilt's assets than those needed to prevent the loss of the estate.
§ 73. Responsibility for the costs of the bankruptcy proceedings. If the bankruptcy has been opened in accordance with § 60, and it turns out that the estate does not have sufficient funds to cover the costs of the bankruptcy proceedings, the applicant who bankruptcy opened, responsible for the excess. The responsibility can nevertheless be limited by regulations prescribed by the King.
Debtor, employee or other private creditor who is exempt from providing security in accordance with § 67, is not responsible for the costs of the bankruptcy proceedings.
Charges whoever has filed for bankruptcy opened, not liable for or can not pay, the State is obliged to cover. The same applies to costs of a bankruptcy opened in accordance with §§ 57 and 65 when these are not covered by the estate agents.
§ 74. bankruptcies duration. The bankruptcy is considered opened at the time when ruling on bankruptcy has been pronounced and lasts until the bankruptcy proceedings are finally concluded, cf. § 137.
§ 75. Council Prohibition before bankruptcy is opened. Are petition for bankruptcy put forward, can the district court or the court on appeal treats the petition, at the request of a claimant or on its own motion decide that the debtor's disposal of assets covered by the seizures court in bankruptcy, be completely or partially repealed until the bankruptcy petition is decided, if it's likely that the debtor would otherwise dispose of the assets to the detriment of creditors. The court may make the decision disposal bans depending on the collateral. These rules apply correspondingly when the debt settlement committee has given a report referred to in § 57 first paragraph. 1
advice prohibition lapses if the court rejects the bankruptcy petition, unless the court determines that it should apply continued, but no further than the ruling on bankruptcy is become enforceable. The court may, on application by the debtor or a claimant or on its own initiative revoke a disposal prohibition to the extent that it is no longer sufficient reason to maintain it.
The court shall ensure that the disposal ban will be registered or recorded. If the prohibition includes certain specified items, the legal protection rules for arrest in goods accordingly. Otherwise the disposal ban judicially of chattels, but it can of this Part by not invoked against the person who has signed an agreement with the debtor and who knew or should have known the ban.
When it's likely that the debtor would otherwise dispose of its assets to the detriment of creditors or otherwise impede any subsequent bankruptcy proceedings, the court may take action as specified in §§ 102 and 105. The provisions of subsections apply correspondingly.
Before taking a decision under this section, should the debtor to the extent possible given the opportunity to express their views. The decision shall be made by court. Anke has no suspensive effect unless the court decides.
§ 76. Liability for wrongful bankruptcy m v. The person who makes or maintains a bankruptcy petition pursuant to §§ 57, second paragraph, 60 or 65 without having reasonable grounds for believing that the conditions for bankruptcy are present duties if petition is rejected, replacing the debtor the loss this can be assumed to be added as a result of the petition. If the person making application, acting in bad faith or gross negligence, he may also be required to provide the debtor a reasonable sum of money as redress for the tort or other damage of non-pecuniary that the petition has been caused.
The person who lodged the petition for disposal prohibition under § 75, is obliged to compensate the debtor for the loss which this can be assumed to have been added as a result of the ban, if the ban clearly was unnecessary, and it was caused by information that the person knew or had understanding was incorrect. First paragraph, second sentence shall apply mutatis mutandis.
If claims by subsections brought before the court, hitting the its decision by judgment.
Chapter IX. Precautions to be taken immediately after the bankruptcy proceedings.
§ 77. Appointment of trustee, creditor committees and auditors. When ruling on bankruptcy has been pronounced, the court shall immediately appoint a trustee - usually a lawyer.
The court shall also consider whether there are special reasons that the court should urgently appoint a creditors committee, cf. § 83, or whether the decision of the creditors committee to be appointed, may be deferred until the issue can be treated at the first general meeting.
The court may also appoint auditor, cf. § 90.
§ 78. Announcement of the bankruptcy proceedings. The court shall without delay issue a notice shall contain:
notified that bankruptcy proceedings against the debtor stay with information about the debtor's employment or industry, business address and residence and whether the debtor's business name where this differs from the person's name;
state who is appointed as trustee and possibly no auditor;
a trial date of the first general meeting of the estate, which should be held no later than three weeks after the announcement has been issued;
requesting creditors to file their claims to the trustee within a specified time limit, cf. § 109,
nature of any court in which the estate.
If it must be assumed that the estate will not give coverage to unsecured claims, may be stated in the announcement along with the Court's possible decision under § 156, first paragraph.
Court or the driver of the bankruptcy registry if the Ministry decides, shall send notice to the Brønnøysund Registers electronic bulletin for public announcements. The trustee shall also send the announcement to all known creditors.
Ministry may issue regulations containing further provisions on the implementation of the announcement.
Court shall immediately notify Norges Bank when it has ruled bankruptcy proceedings in institutions participating in the system specified in the Payment Systems Act § 1-1, first paragraph or § 1-2.
§ 79. Official registration etc. the message that the bankruptcy proceedings. The court shall ensure that the message that the bankruptcy proceedings against the debtor stay, registered in the Register.
The driver of Bankruptcies ensures that the message that bankruptcy proceedings against the debtor stay, judicially or registered in:
Entities, if the debtor's business is introduced there,
Land Registry, if the debtor owns real estate,
enterprises, if the debtor's business is introduced there,
company accounts, if the debtor's business is subject submission,
Elsertifikatregisteret, if the debtor holds elsertifikatkonto.
The driver of the Register shall send a liquidation proceedings in accordance with the VAT Act § 14-2 first paragraph, second sentence.
Unless the court decides to do it yourself, the trustee shall ensure that the message that the bankruptcy proceedings against the debtor stay, registered in
other real records than the Land Registry, insofar as the debtor owns assets that are registered there,
a securities register, if it is registered rights there as trustee believes is covered by the estate's right of seizure.
Unless the court decides to do it yourself, the trustee shall forward the notification of the bankruptcy proceedings to Norway Post and the banks and similar institutions where the debtor has deposits.
The King may issue further provisions regarding the procedure for setting up of messages in the first to fifth paragraphs.
If an asset abandoned after § 117 b, the trustee shall ensure that the notification mentioned in the second paragraph. 1 and 3 and the fourth paragraph is deleted in respect of the abandoned assets. Moreover, this must be reported to the tax if abandonment applies assets which may lead to demands for VAT on the sale of the debtor's side.
§ 80. Fuse, registration, valuation and sealing of the debtor's assets, etc. Unless the court decides to do it yourself, the trustee shall as soon as possible ensure that the debtor's financial statements and accounting records are secured and that it is conducted registration and valuation of the debtor's assets . Assets which have been valued under a debt negotiation immediately prior to the bankruptcy, it is not necessary to appreciate anew.
To the extent that the court finds it necessary or appropriate, it let the debtor's assets seal. Money, securities and other valuables the trustee shall normally take into custody.
The debtor is required to be present at registration proceedings if requested by the court or trustee.
Registration and forseglingsforretningene be left to the sheriff, the Enforcement Office or police with civilian justice tasks or another qualified person appointed by the court.
Upon entry business can be called testify if special circumstances are desirable or the court so decides. Courts Act concerning right witness apply correspondingly insofar as appropriate. When valuation requires special expert knowledge, can the trustee or the court summon one or more experts aides. § 12 applies correspondingly to such intermediaries.
Trustee or the court may, if necessary, request police assistance to implement security, registration and seal under this section.
§ 81. (Repealed by Act 3 September 1999 No.. 72 (ikr. January 1, 2000 acc. Res. September 3, 1999 No.. 983).)
§ 82. Appeals. The rulings under § 77, second paragraph and §§ 78 to 80 can not be challenged on appeal.
Chapter X. estate agencies.
§ 83. Creditor Committee and valuables. If the estate size or difficulty or other circumstances warrant, the court shall appoint a liquidation committee of one to three members, preferably be selected among the claimants or their representatives. In cases referred to in § 84 shall appoint an employee representative as a member of the creditors committee; creditors committee may then consist of up to four members.
Creditors committee, together with the trustee board of trustees.
If the court has not already appointed a creditors committee, cf. § 77, should the claimants the opportunity to speak at the first general meeting of the estate if there should be appointed a liquidation committee and whether the composition of the sample. The court should also collect valuables's view on the issue. The court may make its decision on the appointment of a liquidation committee conditional on appointed, is willing to undertake the duties without remuneration.
The rulings under subsection can not be challenged on appeal.
§ 84. Notification of the employees. Participation in creditor committees. The trustee shall as soon as possible inform the employees of the debtor's business activities about their rights and keep them informed about the bankruptcy proceedings so far as their interests are affected. This can happen through a meeting with the employees or their representatives, in letter or in any other appropriate manner.
When it pursuant to §§ 77 or 83 has been decided that there shall be appointed a liquidation committee, the court shall at the request of a majority of the employees of the debtor's business appoint an employee representative as a member of the creditors committee. The same applies when such a request is made by a local trade union which organizes the majority of employees in the organization or by several local unions which together organize a majority of the employees.
Court may nevertheless after an assessment of the estate's position, prospects for future operations and circumstances fail to appoint such representative. The court shall then obtain the prior statement by the trustee.
King may by regulations or decisions in individual cases make exceptions to these rules and provide additional rules, including the application of the Rules of corporations and corporate-like conditions.
§ 85. Board of trustees Cleaning tasks and credentials. The trustee shall safeguard creditors common interest against the individual claimant and on third parties. So far as is compatible with those interests, the trustee shall, in cooperation with public authorities contribute to the interests of the workers concerned and specific social interests of protection under the bankruptcy proceedings. It is incumbent upon the trustee to make it necessary that the estate can be settled, inter alia:
Order to reveal what belongs to the estate lots, including the examination and if necessary refute allegations of disclosure of values found in the estate;
to recovered the estate accounts receivable;
ensuring preservation, supervision, required insurance and possible increase of the assets of the estate and that they are sold as beneficial as possible;
to ascertain which assets should be recognized as dividend deductible and any preferential claim against the estate;
decide - with the exception of their own, no auditor and creditors committee members' remuneration - which claims to be accepted as preferential claims and thus equal receivable;
taking a decision on the revocation of bankruptcy seizure (abandonment) or transfer to a mortgagee of specified assets;
to provide information as specified in § 122a of prosecutors and the Financial Supervisory Authority;
giving notice to the county as early as possible if the business is believed to result in pollution which is not legal without a permit under the Pollution Act;
to notify as early as possible to the common local office in NAV where the debtor is located about bankruptcy and about which employees are entitled to the estate, if there are workers in the debtor's business.
Is it appointed a liquidation committee, the trustee shall in all matters of significance as far as possible take its decision in consultation with the creditors committee.
The trustee representing the estate outwards. That the trustee has acted contrary to the decision that the board of trustees, creditors' meeting or the court has done, or otherwise gone beyond its competence, can not be invoked against unsuspecting third party.
§ 86. The estate's accounts. Cash funds. The trustee shall maintain records of the estate. The Ministry may issue further rules on accounting.
Monetary Amounts belonging to the estate shall normally inserted in bank accounts. The court may consent to another proper location.
§ 87. Collateral for valuables's responsibility. The trustee shall for their possible responsibility as trustee be secured by an insurance plan approved by the Ministry. Insurance premiums are considered a boom expense.
§ 88. The creditor committee assignments. The creditors committee, together with the trustee charge Creditors common interests against the individual claimant and on third parties. So far as is compatible with those interests, be it in cooperation with public authorities contribute to the interests of the workers concerned and specific social interests of protection under the bankruptcy proceedings.
The Commission will also oversee the trustee, and may at any time require access to the estate's records, accounting records, books and papers and may request all necessary information. Commission members may require specific questions about the bankruptcy proceedings submitted to total bankruptcy administrator for decision.
If the Committee on essential points have objections to make against the bankruptcy administrator's conditions, it shall immediately submit a report to the court.
§ 89. trustee negotiations. The trustee manager trustee meetings and keeps the minutes of proceedings and the taking of decisions. Protocol signed for each meeting of all members present of trustees.
Liquidation estate hit its resolutions stemmeflerhet. In the event of a tied vote the bankruptcy administrator's casting vote.
§ 90. Auditors. Unless it's appointed auditor in accordance with § 77 subsection, the court shall appoint an auditor for the estate after creditors at the first creditors' meeting had the opportunity to express themselves.
It is incumbent auditor:
to review and comment on the debtor's accounts and business practices and to develop an audit report to the extent that the trustee guess it is important for the preparation of the report under § 120;
revising estate accounting in accordance with generally accepted auditing standards and controlling payments from the estate.
Court may by appointment or later restrict auditor under subsection. 1. The court may also exempt auditor for tasks under subsection. 2.
If the estate is simple and straightforward or its agents so limited that it is difficult can bear the costs at a revisoroppnevnelse, the court may completely fail to appoint auditors. If there is no appointed auditor to perform the duties under subsection. 2, these shall be performed by the court, the creditors committee or a specially appointed auditor in accordance with instructions given by the court.
§ 91. Disqualification Rules etc. for the bankruptcy administrator and auditor. The provisions of §§ 12 and 13 apply correspondingly for valuables and auditor.
Appointment of trustee, a new auditor or new members of the creditors committee, is in accordance with the provisions of §§ 77, 83, 84 and 90.
§ 92. When the creditors' meeting is held. The general meeting shall be held when
it by law is mandatory,
court finds it necessary,
trustee or another member of the board of trustees requests, or
requested by claimants representing at least 1/5 of the total amount of the receivables that confer voting rights.
Where working conditions make it necessary, the judge in urgent cases authorize an official to manage a single meeting of the bankruptcy.
An official who is authorized under subsection can not process and settle disputes or make sweepstakes. Such authority does not entitle you to control the court during the taking of evidence.
§ 93. Notice of general meeting. Unless otherwise provided in this Act, determines the court how to call a creditors' meeting. As long as the deadline for review of claims has not expired, the summons still always be announced in the Brønnøysund Register electronic bulletin for public announcements.
When the deadline for review of claims has expired, the court where it has no misgivings, let a trial date of general meeting of the previous meeting of three instead of notice.
§ 94. Voting at general meeting. Representation, impartiality. Unless otherwise provided in this Act may vote at the creditors' meeting may only be exercised by the claimant as meetings personally or by a representative who has general authority to act on the claimant's behalf at the general meeting.
No you personally, as a representative or representative participate in voting concerning:
agreement between himself and the debtor or the estate;
his own liability to the debtor or the estate;
a case in which he has a prominent personal or financial interest.
§ 95. Voting at general meeting. Secured, with preferential rights and contingent claims. Receivables secured by a lien or other security interest in the debtor's assets, are only voting for the amount that can not be assumed to be covered by security.
Receivables that have statutory rights, no voting rights if it is obvious that the estate will provide full coverage of them. Where it is evident that the estate will only provide coverage of these claims, it is only those with voting rights.
The provisions of subsection shall apply mutatis mutandis to the relationship between ordinary bankruptcy claims and by priority claims.
Contingent receivables do not carry voting before the condition has occurred.
§ 96. Voting procedure. Resolutions at general meetings shall be made by simple majority rain after receivable amount. Majority overall credit balance must still be at least 1/5 of the total amount of the receivables that confer voting rights. Is the number of votes counted for receivable amounts equal, the number of claimants crucial.
In ballots before the deadline for review of claims has expired, shall have regard to all claims which the court or trustee members are familiar with the voting time. For subsequent surveys shall have regard to all claims reviewed before the deadline, as well as to claims reviewed by the deadline, but at least one week before the creditors' meeting.
§ 97. Voting Disputes. Is the dispute or confusion about or for which amount a claim shall give voting determines the right question so far as is necessary to determine the outcome of the vote. Before the court takes standpoint, it may decide to seek additional information. The decision has effect only for the question of the claimant's right to vote and can not be appealed.
§ 98. Replacing Collection competence The decision general meeting of doing is binding on the trustee and trustees, unless they are disallowed under § 99.
§ 99. The District Court's instruction and control authority. The court may order the trustee or trustees to submit specific questions about the bankruptcy proceedings for creditors' meeting for consideration or decision.
Court may on its own initiative or at the request of the debtor, a claimant or a member of the board of trustees by order revoke or reverse decisions made by the trustee, trustees or creditors' meeting, where the decision:
is contrary to the debtor, one Claimant or a third person's right;
is illegal in other respects;
is manifestly unreasonable.
§ 10 subsection shall apply accordingly.
Chapter XI. The debtor position under bankruptcy etc.
§ 100. The debtor's right and credentials to dispose of the assets of the estate. The debtor is under bankruptcy entitled to dispose of the assets of the estate, to accept the fulfillment of the estate's assets or termination ol the estate's behalf, and to incur estate obligations.
Estate may not invoke the rule in subsection against those who have fulfilled their obligation to the debtor, or directed a dismissal or similar injunctions to the debtor in the case where such order had to be done within a certain time limit and who did not know or should know that bankruptcy was opened.
The party invoking the rule in the second paragraph, has the burden of proving the existence of good faith.
§ 101. The debtor's obligation to provide information m v. After that it is ruled bankruptcy proceedings, obliged the debtor to provide the court, trustee, trustees and auditors all information about their financial circumstances and about their business practices before and during bankruptcy. The debtor should also help to provide correspondence, accounting documents and other documents of importance to the bankruptcy proceedings, and otherwise provide the necessary assistance to ensure the estate's assets and determine the extent of its obligations. In the extent necessary should the debtor also assist the trustee in connection with fulfillment of the obligation to report pursuant to § 85 first paragraph. 8.
The rules in § 18 subsection accordingly.
The tax authorities shall at the request of the court or trustee provide information about the debtor's wealth and income conditions.
About accountant and auditor assistance duty applies § 18a accordingly.
§ 102. Travel Ban. Under the bankruptcy debtor must not without the court's consent to travel out of the realm or in violation of the prohibition of the right to leave the jurisdiction or a specified area surrounding this.
§ 103. The debtor's duty to attend the general meetings. The debtor is required to be present at all general meetings when this has not legitimately absent or has received permission from the trustee to be absent.
§ 104. Postsendinger etc. to the debtor. The trustee has the right to demand the disclosure letters and other postal items and telegrams addressed to the debtor. The trustee can open all shipments that are not obviously the estate is irrelevant. The debtor shall be entitled to be present at the opening.
§ 105. Freedom restrictions imposed debtor. The court may by order impose debtor freedom restrictions:
when there is reason to believe that the debtor seeking to evade the estate of any of its assets or rights;
when there is reason to believe that the debtor will act in breach of their duties under § 102;
when there is otherwise reason to believe that the debtor grossly infringe their duties under this Act.
Freedom restrictions may consist of arrest and in court or trustee, in custody or in other curtailment of personal liberty as further determined by the court.
Freedom restrictions may be imposed for more than three weeks at a time, but can be extended by new decision of the court.
When it without an oral hearing decision is taken about freedom restrictions, the court on the debtor or bankruptcy administrator requests, as soon as possible convene an oral hearing for consideration of the question. If freedom restriction involves detention, making the court summons on its own initiative. A decision on freedom restrictions that are taken without oral proceedings, can not be appealed separately.
§ 106. Alimony. At the request of the debtor court may by bankruptcy proceedings or later confess debtor or the debtor's family an alimony of estate agents. If it held general meeting of creditors of the estate after the court has made a decision to grant such alimony, the question of continued alimony submitted creditors for comment. Ruling may be reversed if it turns out that it is based on incorrect assumptions or if conditions subsequently change.
The decision shall take particular account of the estate's position, the debtor and his family's needs, to the extent to which the debtor's personal work will be required during the bankruptcy proceedings, and the debtor's opportunities to acquire income in other personal activities.
§ 107. The debtor's death. The debtor dies after the bankruptcy of the debtor stay, have no influence on the treatment and the end of the estate.
The court may, at the request of the debtor's dependents or the trustee may decide that the cost of burial wholly or partly payable by the estate.
§ 108. The debtor is an association or a foundation. If the debtor is an association or a foundation shall §§ 101-107, cf. § 75, fourth paragraph, apply mutatis mutandis to the person who is or has been personally responsible participant in, business manager or director of the association. Mandatory under § 103 are still only when the trustee has ordered it.
For people who have not been in such a position later than one year before the deadline, the rules only apply to the extent the court so decides.
Chapter XII. Review and examination of claims.
§ 109. Call for review. Frist. In the announcement of the bankruptcy proceedings, the court shall encourage the debtor's creditors to writing to report their claims to the trustee within a specified time limit. The review shall follow the documents that serve as proof of the receivables, and information must be provided on the basis of the receivables, and the collateral of the debtor or property of third parties that may be liable for them, and whether it is jointly and severally medforpliktede.
If bankruptcy is opened in direct continuation of a debt negotiation, cf. Act of Claims § 1-4, sixth paragraph, and the claim under this negotiation is reported to debt tribunal, there is no need to report it again. Information on this is given in the announcement.
Deadline for review must be at least three and at most six weeks after the date of bankruptcy proceedings was announced in the Brønnøysund Register electronic bulletin for public announcements.
§ 110. Review List. Board of trustees Cleaning setting. The trustee shall keep a list of the receivables that are reported in the estate with an indication of the priority claimant claims to be entitled.
Trustee shall as soon as possible to enter in the list the amount and the priority it set at the individual request must be approved by. The trustee shall also give an estimate of the mass claims and thus equal receivables that are expected to be asserted against the estate.
Trustee shall not suspend receivables which obviously will not obtain coverage or any minimum coverage stipulated by § 128 subsection although review applied. Claimants who after this can not set its debts shall be notified that their receivables will not be tuned and tested.
Anyone who has a legal interest in the bankruptcy proceedings, has the right to familiarize themselves with the list and claims reviews.
§ 111. Testing of receivables. The set receivables tested as soon as the necessary basis for the test are available. The testing performed by the trustee or by trustees if it is appointed liquidation committee. Testing may occur at the creditors' meeting.
Bankruptcy debtor, creditors who have received suspended his claims and no auditor has the right to express their views and to be present during the claim examination. These shall be notified of the time and place for examination and be sent valuables's setting at least eight days before the test takes place. Notification receivable examination can be sent electronically with reference to the setting are available electronically, if the recipient has accepted the use of electronic communications. Whoever has the right to be present at the asset test, still have the right to request to receive setting. When there are no contraindications, can a claim be tried although trustee tuning has not existed no later than eight days before receivables test.
Receivables reviewed claiming rights, should be tried first. If necessary, the test continued at a later date. The result of the test shall be recorded.
If the approval or rejection of a claim due to circumstances that are not known when the claim proved, may be taken decision is conditional upon the trustee later find a specified conditions well done.
§ 112. The trustee change its setting. If the trustee as a result of the information or defenses arising under asset test, change its recommendation regarding a claim, should testing of the claim is postponed, when there are no contraindications to undergo receivable immediately.
§ 113. Receivables approved. If the trustee recommends that a claim must be approved in accordance with the review, and at the latest by the testing done oppose setting, deemed receivable for approved as well with regard to amounts that priority. It can later not contested during the bankruptcy proceedings, unless information emerges that undoubtedly would have led to the approval would be refused, if it had been presented at the tasting. Questions about the new testing Recognized Claim shall be submitted to the court that renders its decision by decision.
§ 114. Receivables contested. If the trustee nominates a request not be approved in accordance with the review or if the debtor, a member of the board of trustees or a claimant who has been tuned its claim, opposes review, the trustee shall notify the reviewer and give this opportunity to state the reasons for review within a specified period.
If the reviewer does not come with any rationale behind by the deadline or if the setting or the objection is held, the trustee shall report the matter to court. The court shall give the reviewer a period of at least three weeks to travel dispute and advise on the setting or the opposition will be the basis for testing if the dispute is not brought within the time limit.
Just reviewer and the one who has disputed the claim is deemed to be parties in a dispute referred to in subsection. Winner whoever put forward objections to claims review such a dispute without being awarded legal costs, the court may decide that the person should have full or partial replacement of the estate is limited to the advantage obtained estate.
§ 115. Receivables reviewed after the deadline. §§ 110-114 apply correspondingly to claims that were reported after the end of the review period. The court may order the reviewer to replace the estate with the specific costs incurred by the testing because the claim is reviewed after the expiry of the deadline.
§ 116. Corrected or amended review. As long as a reviewed receivable not tried, can the reviewer make changes and corrections to review with regard to the request flip Reviewed grounds, amount and priority.
After receivable is tried, can such change or correction made only when it is due to circumstances that the reviewer was not aware of previously.
The changed or directed Review considered a new review, if it may lead to the Reviewed receivable must be approved with better priority or with a significantly higher amount.
Chapter XIII. Realization of the estate's assets. Reporting and accounting.
§ 117. The realization of the assets of the estate. Within the limits nourishment by legislation, the assets of the estate are realized in the manner under the circumstances is expected to provide the greatest benefit. Bort sales by public auction should not take place unless there is reason to believe that at this selling way is achieved better prices than under hand sales.
Sale of assets of the estate of the debtor or the debtor's close associates as mentioned in Claims Act § 1-5 without carrying out announcement has taken place in the newspaper or in a suitable electronic medium. The deadline to submit bids shall normally not be less than a week. Notice may be omitted if special circumstances make that it is deemed inappropriate to announce the sale.
The provisions of § 17, second paragraph apply correspondingly, however, that the deadline is counted from the filing date.
§ 117a. Sales of overbeheftede assets. The trustee may sell the estate overbeheftede assets effacing effect of unmet liens if
sale occurs along with other of the estate's assets and a sale is expected to provide greater benefit for the estate than a sale of the assets individually or
sales made as part of an overall transfer of all or parts of the business with the aim of continued operation after the bankruptcy.
By sales acquired all monetary liens located within the purchase price to the extent that the charges have legal protection in relation to the bankruptcy estate. Other liens than monetary encumbrances on the object concerned is taken over by the buyer outside the purchase price to the extent relevant encumbrance has legal protection in relation to the bankruptcy estate. Such liens shall nevertheless be set aside to the extent necessary to provide coverage of monetary liens with better or equal priority.
The purchase of real property, the court shall confirm the sale by court order if not all affected licensees have given written consent to the sale. The provisions of the Enforcement Act, §§ 11-29 to 11-35 will then apply correspondingly insofar as appropriate.
On realization of movables that are not real registered the trustee shall send a written notice to the holders of rights that may be affected by the sale, with an indication that the decision to make a sale can be reversed by the court pursuant to § 99. The sale can be completed no earlier than 14 days after notice is given. The court's decision can not be appealed.
The value of each collateral shall be specified in agreement with the buyer. The trustee receives the purchase price from the buyer, and benefits amount to the holders of the relevant item in accordance with their priorities. Enforcement Act § 11-38 shall apply correspondingly to the extent appropriate. The excess amount accrues to the estate.
§ 117b. Abandonment. The trustee may decide to terminate the bankruptcy seizure in an asset that is no financial interest in the estate. The decision carried out by the trustee submits a written declaration to the debtor that the property is abandoned. The declaration shall specify the time of abandonment. The asset will from this date be set for the debtor's disposal. The debtor assumes the risk of the asset from abandoneringstidspunktet.
Trustee should notify the holders of the asset before abandonment implemented.
Trustee can convert an abandoneringsbeslutning if the debtor has given false information or withheld information of importance for the decision. This does not apply if a third party has acquired the right to the asset. The trustee may revoke any surplus which the debtor obtained by sale or lease of assets or otherwise.
§ 117C. Transfer to the mortgagee. The trustee can transfer a pledged asset is no financial interest in the estate of a mortgagee who agrees.
The transfer shall take place at the collateral's estimated market value on the transfer date. The trustee will make their valuation and may choose to assume that a sale of the asset yields. The valuation basis for calculating panthavernes claim dividend under the Recovery Act § 8-14 and for the settlement of the debtor's debt to the mortgagee.
Want more mortgagees asset transferred to him, the process for transferring to it by panthaverne has the poorest priority within the asset's estimated market value on the transfer date.
The transfer is performed by the trustee submits a written declaration to the mortgagee that the asset is transferred. The declaration shall specify the time of transmission. The asset shall from this time made mortgagee disposal. Mortgagee assume the risks of the asset from the transfer date. Costs incurred in connection with the transfer, including claims on government fees and charges will be borne by the mortgagee.
§ 118. Disputes about the size of the estate's right of seizure. If the trustee or trustees where it is appointed liquidation committee, finds it questionable whether the estate should seek to assert a right which is assumed to apply it, the question shall be submitted to the creditors' meeting for decision.
Decides creditors' meeting that the estate should not pursue his possible right, any creditor who voted against the decision, raise the issue on the estate's behalf within a period determined by the court, if no settlement has been reached between the estate and the relevant counterparty. The claimant must in case assume responsibility and such security determined by the court for the loss estate had to be added by the case being filed.
The claimant must bear the costs of proceedings, but whether it causes bomassen increases, the claimant require reasonable costs covered forlodds of the vested amount.
Provisions of subsections apply correspondingly where there is a matter of using remedies against a decision concerning the estate's right.
§ 119. The debtor's business. Question whether and to what extent the debtor's business should continue for the estate's expense, and within the limits nourishment by legislation, decided as soon as possible by the trustee or the administrators, if it appointed a creditors committee.
If the business is to continue, the question should be submitted for consideration for change collection. Continuation should only be decided if it is probable that this may avoid harm to the estate or achieved more favorable realization of assets of the estate. The operation can also be continued if the interests of workers affected or particular public interests speak for this, and the estate receives sufficient assurance that assumption does not detract coverage possibilities.
Questions about such a reduction or reorganization of the debtor's business activity that substantially affects the workers and their working conditions, to be discussed with employees' representatives and they should as far as possible have the opportunity to present their views before the implementation of measures.
Court may take interim decision on debtor's employment as soon as possible shall be submitted to the final decision in accordance with the first paragraph.
Decision to be taken in consultation with panthaverne or others that business will continue, the trustee shall ensure that matters of importance for the parties, including the revenue and expenditure of the various partners, clarified in writing.
§ 120. The estate report. Unless the court by appointment of the trustee or later decide otherwise, the trustee or trustees if appointed creditors committee, within three months of appointment submit a report to the court, which, inter alia, shall contain:
a list of the debtor's business practices with information on how the registration and documentation of accounting information has been and of the circumstances that have led to the bankruptcy. The dashboard should be consumed debtor last two annual accounts and annual reports (status, management accounts) and also a statement of turnover;
Listings estate position, with information including whether the debtor kausjon- and swap obligations, the encumbrances of the debtor's assets and how the assets are valued;
information about the debtor's marital property matters;
indication whether the debtor is believed to have made transactions that can be reversed;
information whether in connection with the debtor's economic activity shall be presumed conditions that may give rise to criminal prosecution against the debtor or against any person acting on the debtor's behalf. The debtor is an association or a foundation, given the information on whether the business manager or a director is believed to have been guilty of such a relationship;
indication whether it is believed to be circumstances that could give rise to sanctions from the FSA against the debtor's auditor Auditors Act §§ 9-1 and 9-2;
an assessment of whether there are circumstances that are covered by the rules on disqualification in § 142.
Any report from the auditor should be enclosed. Moreover, accompanied by a declaration from the debtor that the information in his report on his financial circumstances by the debtor knowingly are correct and exhaustive.
If bankruptcy is opened in direct continuation of a debt negotiation, cf. Claims Act § 1-4, sixth paragraph, and during this has been prepared a statement in accordance with § 21, this statement with the necessary additions and changes used as bankruptcy report .
Trustee shall make his report known creditors by sending it to them or make it available electronically if the claimant has accepted the use of electronic communications. The trustee shall submit his report to the Register and the debtor.
§ 121. Årsredegjørelse for liquidation. The District Court's control. If the estate is not stopped one year after the appointment of the trustee, the trustee shall send the district court account of the bankruptcy proceedings as well as accounting for the estate. If it is appointed liquidation committee shall accounts and report be presented to the creditor committee members, who by endorsement should express the notices they are having to do. The accounts shall also be submitted to any auditor.
Statement and accounts referred to in the preceding paragraph shall always be given by trustee shift and by the way the Court's determination, however, at least every year. The court may otherwise anytime demand that the trustee and the creditor committee members will give full details of the bankruptcy proceedings.
§ 122. Final Accounting and -redegjørelse. When the estate shall be executed or liquidation of any reason terminate the trustee shall take the final accounts and -redegjørelse. § 121, first paragraph, second and third sentence apply accordingly. The accounts with the auditor's report and the statement submitted court and the debtor.
Before the court approves the accounts, the trustee shall send a copy of the statement and the statement to all creditors. Claimants must be given at least two weeks to objecting to that statement is approved, that the estate-circuited or the liquidation of some reason to stop. If the claimant has accepted the use of electronic communications may be the claimant in the notification be made aware of the deadline and where the accounts and report are available electronically.
§ 122a. Trustee and no auditor duties in relation to the prosecution and the Financial Supervisory Authority. The trustee shall as soon as possible, provide information to prosecutors if it is assumed to exist circumstances mentioned in § 120, first paragraph. 5, and the Financial Supervisory Authority if it has reason to suspect circumstances mentioned in § 120, first paragraph. 6. Reporting pursuant of §§ 120 to 122 which deals with such matters, also sent to the prosecutor or the FSA.
So far the rules on confidentiality on third parties not to hinder the duty trustee on request to assist prosecutors and the Financial Supervisory Authority to obtain information and documents belonging to the estate for use in the investigation of the circumstances mentioned in § 120, first paragraph. 5 and 6. to the extent that this involves work that falls outside the estate's ordinary bankruptcy proceedings, the trustee entitled to special remuneration of the requisitioning authority.
The second paragraph applies correspondingly to an eventual no auditor.
§ 122b. Luggage debtor records. The debtor's accounting records may be destroyed if the trustee finds that it no longer has significance for liquidation. Before shredding occurs, the trustee shall notify the debtor, prosecutors and tax authorities that accounting records will be destroyed if no undertakes to acquire the material within a reasonable time as determined by the trustee. Notification should also be given to other claimants who might have an interest in taking over the accounting records.
Chapter XIV. Forced Akkord under bankruptcy.
§ 123. Akkord Proposal. The debtor may propose compulsory composition after report mentioned in § 120 is issued and until the estate is concerned to inference.
The proposal, which must be consistent with the provisions of § 30, presented in writing to the trustee or trustees if it is appointed liquidation committee, which sends it to the District Court with its opinion as to whether the proposal is recommended adoption of the views and the security that has that proposal will be met from the debtor side, and on the conditions that the trustee or trustees have set to recommend the proposal. § 22 first paragraph, second and third sentences shall apply correspondingly. If the trustee or trustees are going to vote on the proposal should take place in the voting meeting, ref. § 40, second paragraph, the petition for this simultaneously communicated district court.
§ 124. Adoption of the proposal. The court will by order of the proposal are to be processed and simultaneously takes a position on a possible request for the vote to take place in the voting meeting. Treatment should be refused if the court does not find that there is a view that the proposal could be adopted and ratified. A ruling denying treatment, may be appealed within three days. Going ruling out that the proposal should be treated, it is not subject to appeal.
When the proposal is decided taken during treatment, the trustee shall submit with his or liquidator's statement and the list referred to in § 41 to all known creditors. The provisions of §§ 40 to 44 shall apply mutatis mutandis, the trustee or trustees of entry instead of debt settlement committee. If the claimant has accepted the use of electronic communications may be the claimant in the notification be made aware of the deadline under § 40 and how the proposal, bankruptcy administrator's and trustee's statement and creditor list are available electronically.
§ 125. Vindication of the chord. When voting is conducted will determine the court by ruling on the chord should be upheld. Is not the estate's cash reserves sufficient to cover mass claims and prioritized claims may chord upheld only if adequate security is that the missing amount is paid in case of vindication. Otherwise get §§ 38, 47-51, 54 and 55 apply mutatis mutandis. The court's ruling can be appealed by the debtor and any creditor who will be bound by the chord.
If the chord being vindicated, should bankruptcy proceedings simultaneously set. Once the ruling has become enforceable shall announcement that chord has been vindicated and the bankruptcy proceedings set, published in the manner prescribed in § 78 subsection. § 53 third paragraph applies correspondingly, the trustee enters instead of debt settlement committee.
When ruling on confirmation has been enforceable, the trustee shall pay mass receivables and the beneficiaries receivables, or - insofar as claims are disputed - insert the bank the required amount to cover them, as § 47, second paragraph shall apply mutatis mutandis.
§ 126. Coercion Akkord after the debtor's death. If the debtor dies before the estate is concerned the conclusion, the heirs of the debtor place put forward proposals for compulsory composition or continue negotiations on an already put forward a proposal if they:
to the court to declare that they will take over full and undivided responsibility for the fulfillment of the compromise that had to be brought in condition;
after changing legislation in general would have had the opportunity to receive debtor stay to private division.
The provisions of §§ 18 and 39 will then apply correspondingly to the heirs, but the trustee may make exceptions to meet the obligation.
Provisions of subsections applied accordingly on the debtor's spouse, if he or she after changing legislation have the right to sit in the undivided estate and notifies the court that he or she will use their right, under the assumption that chord is brought in condition. The declaration mentioned in Inheritance Act § 16 shall be issued in this case by the court when enforceable sanction its decision.
Chapter XV. Inference, raffles and payment.
§ 127. Preliminary sweepstakes. When all the receivables that are believed to be preferential, and are reviewed within review deadline is tried shall raffles happen for these receivables applicant as soon as the estate has funds for full payment of them. Preferably Eligible receivables of first class, ref. Claims Act § 9-3, can still be paid without raffles when it clearly is coverage of the receivables.
When review period has expired and all claims to be tested, is tried, the court of bankruptcy administrator's petition decide that one or more preliminary sweepstakes to other claimants to happen as the estate has the necessary funds.
§ 128. Conclusion of the estate and eventually raffles. Access to make corrections. As soon as the estate's assets are realized, its receivables recovered, all disputes on how its funds should be allocated is determined and audited accounts are approved, the court shall take the estate up to inference. The creditors who have raised objections to the decision to take the estate up to inference, ref. § 122, second paragraph, shall be notified of the decision. After the estate is admitted to inference, the trustee shall as soon as possible make sluttutlodningen.
Where special circumstances apply, the estate is taken to conclusion and final raffle made despite the fact that certain questions about the estate's assets and liabilities has not yet been resolved.
If the amount which would accrue to a claimant is disproportionately small compared to the costs and work with raffles and dispatch, the court may decide that the claim should be disregarded by raffle or that payment be omitted. The Ministry may issue regulations containing further provisions on the enforcement of this provision.
Raffles sent to all creditors with approved claims. These shall also disclose the right of appeal under § 130.
If the trustee during the appeal deadline becomes aware of errors in the raffle, can necessary corrections made, insofar as it does not necessitate any refund. Those who are asked disadvantage as a result of the correction, shall be notified; appeal time limit for their competent from the date the notification was sent.
§ 129. After Raffle. If, after the final raffle is done, included funds accruing to the estate, the funds shall be distributed among creditors by for raffles.
§ 130. Appeal to District Court. Board of trustees Cleaning raffles may be appealed to the District Court of claimants who have received approval for their receivables. The deadline for appeals is one month from the date of the notification of raffle given by the trustee. The appeal must be in writing and reasoned. Before the court reaches a decision, the trustee shall be given an opportunity to comment. The court will make its decision by ruling.
Provides right complainant partially or wholly supported, making it as soon as possible new raffle. In this connection, the trustee is asked to draft a new raffle. The claimants who receive a smaller amount than indicated in the bankruptcy administrator's raffles, shall be notified of the new raffle.
§ 131. (Repealed by Act 3 September 1999 No.. 72 (ikr. January 1, 2000 acc. Res. September 3, 1999 No.. 983).)
§ 132. Payments. The trustee pays dividends as soon as the deadline for appeals has expired and any complaints are legally settled.
If a raffle being appealed or appealed, the court may decide that payment shall be made to the extent raffle are not expected to be affected by the appeal or appealed.
When payment is made, the trustee shall send the payment list to the court along with documentation and confirmation of no auditor (or the like instead to revise estate, cf. § 90 fourth paragraph) that the payment is done according to the list.
Court may permit the payment of advances on dividends of preferred pay claims even though review deadline has not expired or raffle conducted if this is unobjectionable for the estate's position.
§ 133. Disputed, contingent and too late Reviewed receivables at raffles. If it is raised objections against a reviewed receivable, the dividend at a raffle falls on the receivable, inserted into the bank on a separate account until the issue of approval of the claim is finally settled. The request is approved, accruing interest earned on the account creditor.
Provisions of the first paragraph apply correspondingly to claims that depends on a condition which is not yet occurred.
At a preliminary raffles are not those receivables that are not yet tried. At the first raffle after the claims have been tested they should - to the extent there are sufficient funds - forlodds awarded such a large dividend that together are utloddet earlier.
Receivables reported after the estate is concerned to conclude, do not participate in the raffle.
§ 134. Claimant whose whereabouts are unknown. When a claimant's whereabouts are unknown, shall amounts due claimant according raffle, inserted into the bank on a separate account managed by the court. Interest earned on the account accrues claimant. Amounts not paid within 10 years after the bankruptcy proceedings are completed, accrue to the Treasury.
Chapter XVI. Bankruptcy termination.
§ 135. Setting the bankruptcy proceedings because the estate's assets can not cover the costs. If the trustee finds that the estate's assets, including assets the estate gets under legal lien for Mortgage Act § 6-4, are insufficient to cover the costs of its continued treatment, the trustee shall consider contacting claimants or affected public authorities with the aim of getting them to provide security for the costs of continued receivership. If the trustee finds no reason to take such a contact, or no security is not provided, the trustee shall submit a recommendation to the court that the bankruptcy proceedings will be set. The setting may be included in bankruptcy administrator's final statement, cf. § 122.
Is debtor accounting records have not been secured or the debtor's business practices are not examined, it shall in setting specific explanation of why this has not taken place. It should also be explained if it is assumed to be criminal offenses in connection with the debtor's economic activities, and the extent to which it is conducted investigations in this respect.
Based on the bankruptcy administrator's setting the court may decide that the bankruptcy proceedings should be set or that it shall be convened meeting of the discussion of the question of setting the bankruptcy proceedings. If it is not in accordance with the commitments given in this creditors' meeting will be security for costs, the bankruptcy proceedings set, unless the court gives a brief reprieve. Before the court suspends the bankruptcy proceedings, have audited financial statements be approved.
Setting the liquidation occurs by court. The ruling communicated to the claimants who have objected to the bankruptcy proceedings set, ref. § 122, second paragraph.
§ 136. Return of the estate of the debtor. Liquidation shall be set by court when after review deadline:
consent in writing to the estate relinquished debtor of all creditors who have claims against the estate, except claimants whose claims are secured or secured with adequate surety, lien or other similar security right, or
submitted evidence that all claims referred to in paragraph. 1 is covered.
If the estate's cash reserves are not sufficient to cover mass claims shall ruling just handed down if it gets set reasonable assurance that the missing amount is paid in case of return. When ruling on the return has become enforceable, the trustee shall pay lots of pretensions or - insofar as claims are disputed - insert the bank the required amount to cover them, as § 46, second paragraph shall apply mutatis mutandis.
Announcement that bankruptcy proceedings are discontinued, to be published in the Brønnøysund Register electronic bulletin for public announcements.
§ 137. Final completion of the bankruptcy proceedings. Bankruptcy proceedings considered finalized when ruling on setting according to §§ 125, 135 or 136, or final raffles pursuant to § 128 has been enforceable.
§ 138. Deletion of previous messages, etc. When the bankruptcy is finally completed, the court shall ensure that the remark in the Register. Is bankruptcy finalized by end raffles under § 128, it is still the trustee who will ensure such a disclaimer. Unless the court decides to do it himself, the driver of Bankruptcies ensure that messages are given in accordance with § 79, second paragraph no. 3 and fourth paragraphs are deleted. Furthermore, the driver of Bankruptcies give notification in accordance with the VAT Act § 14-2 first paragraph, second sentence.
The driver of the bankruptcy registry ensures that ended bankruptcy proceedings are notified to the records referred to in § 79, second paragraph. 1, 2, 4 and 5. It shall state the grounds on which bankruptcy proceedings are discontinued. The debtor is a foundation or an association with limited liability and bankruptcy proceedings are completed in accordance with §§ 128 and 135, the driver of Bankruptcies simultaneously request deletion of the association with the CCR and enterprises.
§ 139. Continuation of the bankruptcy proceedings. The court may by order provide that a completed bankruptcy proceedings will continue once it appears that claims or assets that should have gone into the estate is held outside the bankruptcy proceedings without can be blamed estate concerned. Unless otherwise determined by the court, the continuation of the bankruptcy proceedings no other effects for the debtor than those necessary for the estate to be able to assert their rights. The court shall determine whether and to what extent the continuation of the bankruptcy proceedings shall be published.
Chapter XVII. Special provisions for certain bankruptcy.
§ 140. Bankruptcy Manager of estates. Bankruptcy can be opened pursuant to the provisions of this Act in the estate where the deceased's debts are not taken over by the surviving spouse or the heirs.
Bankruptcy shall not be opened when the spouse or heirs announces that it intends to put forward compromise proposals, and the court finds that there is a good view of the proposal can be adopted and upheld.
If preclusive issued before bankruptcy is opened, an informed thereof included in the announcement of bankruptcy proceedings and three instead of the request referred to in § 78 first paragraph. 4. It is not necessary to send the announcement to creditors.
§ 141. (Repealed by Act 3 September 1999 No.. 72 (ikr. January 1, 2000 acc. Res. September 3, 1999 No.. 983).)
Chapter XVIII. Rules that prevent bankruptcy debtors etc. in to do business in corporate form.
§ 142. Conditions for disqualification. A debtor whose estate is declared bankrupt, can be put into bankruptcy by the court if
concerned with reasonable grounds to suspect a criminal offense in connection with the bankruptcy or the activities that have led to insolvency, or
it must be assumed that the person because of irresponsible business is unfit to staple a new company or to be a director or chief executive (CEO) in such a company.
The decision shall be given to whether the taking into account the debtor's dealings and other circumstances seem reasonable to put him in quarantine.
Konkurskarantenen implies that the debtor for a period of two years from the bankruptcy proceedings can not staple company as mentioned in the fifth paragraph or undertake or proper exercise new duties as a member or alternate member of the Board or as chief executive (CEO) in such company . The court may decide that two-year deadline initially be calculated from the date when the court makes its decision.
In the case mentioned in the first paragraph 1 the court may decide that konkurskarantenen also shall involve the debtor for the aforesaid period shall be removed from office as mentioned in the third paragraph in the companies mentioned in the fifth paragraph.
The company in the third and fourth paragraph limited company, branch office of a foreign company, commercial foundation, cooperatives, cooperatives, mutual insurance companies and state enterprises.
Rules on disqualification apply correspondingly to the one during the last year before the bankruptcy is opened in the company stay
has been fully responsible participant in a general partnership or limited partnership, or
formally has held or has actually exercised duties as a member or alternate member of the Board or as chief executive (CEO) of a company referred to in subsection.
§ 143. Decision on disqualification. Expiration or extension of the quarantine. Decisions on disqualification made by order of the district court that treats the bankruptcy estate or who have treated it.
Estate and prosecutors have the right to act as a party. Following a request from the prosecution the court may decide that the effects of the ruling shall be extended until final judgment has been in criminal proceedings where prosecutors have closed or are considering closing down assertion of rights under the Criminal Code § 56.
ruling's effect on it is handed down. Appeals may be granted suspensive effect by the court which has received its ruling appealed, or by the appeal court.
Ruling fully or partly converted at the request of a party if it has reached the new information.
The effects of the ruling lapses if the estate of the bankruptcy proceedings is returned to the debtor pursuant to § 136, or if the debtor obtains compulsory composition.
§ 143a. Penalty. Any person who willfully or negligently acts in contravention of an order under § 143, punishable by fines or imprisonment up to three months.
Chapter XIX. Registration in bankruptcy register.
§ 144. Registration in bankruptcy register. Any bankruptcy and stay under other legislation shall forcibly liquidated after bankruptcy Act, shall be registered in a central register (the Register) in its own organization. Also founders, CEO and persons who hold or have held office in an enterprise, an association or a foundation that is bankrupt or under compulsory liquidation, may be registered. The same applies to owners of such enterprise or such an association which has a stake of 20 percent or more, or who has had such a stake later than five years before the opening of bankruptcy proceedings. It can also be registered information from bankruptcy administrator's reports, except for information on suspected offenses. Ministry issues specific provision of the register content.
People who imposed disqualification shall also be registered in the bankruptcy register.
Information recorded in Property Register, Enterprises, Entities and the Register, may be reported to the Register in accordance with regulations issued by the Ministry.
Ministry determines the information to be included in transcripts from the register, and sets fees for this.
Third part. Common rules for debt negotiation and bankruptcy.
§ 145. The District Court's substantive expertise. It falls under the district court to determine:
questions about opening and regulating debt negotiation and other questions about debt settlement law has added to it;
all questions regarding the opening and conduct of settlement proceedings and bankruptcy.
It falls under the district court that has considered the request for no. 1 or 2 to determine:
dispute on whether the mass or reviewed bankruptcy claim to be approved, and whether its size and priority;
dispute as to whether a claim relates to a debt negotiation, assuming debt committee has agreed that the district court will decide the dispute.
The court will also decide matters relating to reversal that not for a mandatory jurisdiction rule falls under a different court.
Trustee or trustees if it is appointed liquidation committee may, in the District Court consent agreement that a dispute referred to in subsection 3 shall be decided by litigation for another court competent under the usual rules of jurisdiction, or by arbitration. In that case, the provisions of § 154 accordingly. Otherwise the venue other not agreed in the cases mentioned in the first paragraph.
Other claims against a bankrupt may be brought before the district court pursuant to the provisions of this law when they fail to mandatory jurisdiction rule falls under another court or must be processed for other procedural rules.
Debtor may bring his claim under § 76 before the district court pursuant to this Act, or as ordinary litigation Dispute Act.
§ 146. The District Court's jurisdiction. Is the debtor's business Register of Business Enterprises, hear treatment under court in the judicial district where the debtor has its principal place of business. In other cases belong treatment under court in the judicial district where the debtor has his ordinary venue. Bankruptcy of estates belong anyway always under the district court that treats the estate.
At the request of the applicant, the debt settlement committee, board of trustees or of its own motion, the District Court with jurisdiction under the rules in subsection decide that treatment is to be transferred to another district court who agrees transfer. Being consent is not given, the Supreme Court Appeals Committee, where special circumstances make it desirable, decide that the transfer will take place.
§ 147. Rejection due to unintentional errors. If a request for debt settlement or bankruptcy is rejected due to unintentional mistakes, but made again within three weeks after the ruling has been served on the person, considered the substantive follow from the first petition.
§ 148. Impartiality. The debtor or the person who stands in such a relationship with him as mentioned in the law on courts § 106 no. 2-6, can not be a judge in a case under this Act. Law on Courts § 109 shall apply accordingly.
Judge Nor can anyone be when there are other special circumstances that are likely to undermine confidence in the judge's impartiality. This particularly applies when the debtor or a claimant requires that the judge shall depart seat.
In the treatment of litigation, the judge is biased to the same extent as in civil cases.
For just witnessed, protocol driver and reunion witnessed the provisions of the law on courts § 110, however, that they are not disqualified greater extent than by the rules applicable to judges under subsections of this section. The provisions of the first sentence applies correspondingly to the performing seal and registration business district court.
Law on Courts §§ 111-121 apply correspondingly.
§ 149. General rules on court's proceedings m v. The provisions of the Civil Procedure Act first, fourth, fifth and sixth part, chapter 8 and §§ 9-6, 9-11 and 9-16 apply correspondingly insofar as appropriate and Unless otherwise stated. With regard to witnesses and experts regarding attendance same rules apply as at the main hearing in civil disputes.
For the power to act as counsel under debt negotiation and bankruptcy applies Disputes Act § 3-3 subsections. Also, a licensed debt collector of a debt collector who runs the collection business pursuant to a debt collection license for debt collection law, as counsel by the same rules as lawyers for a claimant in collecting payment that the debt collector has for the Claimant. In a petition for bankruptcy, the treatment of disputes by the general process for Disputes Act and the Appeals applies Disputes Act § 3-3 subsections.
The court may at bankruptcy proceedings in certain circumstances decide the taking of evidence by the Disputes Act Chapter 27 to clarify the estate's rights or obligations. The court will decide who should be notified of such taking of evidence.
Before a dispute settled, the court shall so far as possible give the parties an opportunity to express themselves, orally or in writing.
Preaching for a claimant may under bankruptcy happen against anyone who has reviewed the claim or acted as the claimant's representative at the trial of the claim.
Replacing collections are court proceedings.
§ 150. The District Court's decisions. In addition to situations that Justice Act and Civil Procedure Act determines, the Court's rulings rulings when this law calls them or they decide a legal dispute that should not be decided by court.
§ 151. The impact of the decisions made during treatment. Unless otherwise provided by law, determine the court for a decision it has made, will form the basis for further debt settlement or bankruptcy proceedings before being enforceable.
§ 152. (Repealed by Act 22 April 2016 No.. 3 (ikr. April 22, 2016 acc. Res. 22 April 2016 No.. 407).)
§ 153. Deadlines for remedies. The deadline for appeal is one month, unless otherwise required by §§ 4, third paragraph, 54, second paragraph and 124 first paragraph.
Deadlines for an appeal against a decision that should not be served or notified to the person concerned, calculated from the day the decision was taken. The decision shall be communicated to the person, the time limit from the date the notice is dispatched. For sweepstakes limit runs always from raffles day. For appeals against interlocutory orders as specified in §§ 52, second paragraph and 125 first paragraph limit runs from Pronouncement.
After confirmation of compulsory composition or final raffles have become enforceable, the Reinstatement omissions during the bankruptcy proceedings is not granted and the reopening is not required.
§ 154. Treatment of dispute by the general process. A dispute by the District Court under this Act may be treated by the general process, if this treatment is considered most appropriate given rettsspørsmålets nature or the information required, and the court gives permission.
Under the same conditions the court may refer the dispute to such treatment.
Before the court gives consent or decide reference, it shall give the parties an opportunity to express themselves.
Shall a dispute dealt with by the general process, the Court decides to travel the lawsuit, and the period within which it must be instituted.
Mediation in conciliation are not made. Otherwise, the rules for the general process unless otherwise provided in this Act.
Court may on its own initiative decide to raise the processing of the estate without regard to the dispute, if action is not filed within the time limit set, or if the decision of the lawsuit being unduly delayed by the fault of the party who have traveled there.
Decisions of the court under this section can not be challenged on appeal.
§ 155. The debtor arbitration agreements. Disputes Act § 16-16 subsection c shall apply correspondingly where the debtor is a party to an arbitration proceeding in Norway which is begun before bankruptcy proceedings. Case concerns claims against the debtor, the estate may be involved as a party if the claim is made against the estate. Otherwise the debtor's agreements on arbitration is not binding in cases referred to in § 145 subsection unless otherwise provided by agreements with foreign states.
§ 156. Simplified notification to creditors, electronic communications, etc.. The court may decide that mandatory notification shall be made otherwise than certain, that notification shall take place only to claimants whose claim is prioritized or exceed a certain amount or the notification entirely be omitted, if the costs of using the required procedure will be in prominent disparity the receivables' size or the coverage they can expect to get. Decisions under this section shall, if possible be communicated to all those affected by the decision, unless it seems clear misgivings about not giving such notice.
Communication which by law must be in writing, may be conveyed electronically on the transmitter and receiver have been made for it and the person accepts it. The same applies when this Act stipulates that information should be sent, notified or granted, or that it be given notice or notification. For communication with the court of Justice Act applies § 197 a.
Documents and information relating to a bankruptcy may also be made available electronically own bosider operated by Brønnøysundregistrene. The driver of the Register shall ensure that all information contained on the estate in the Register without delay will be made available on bosiden. Only the trustee and the driver of Bankruptcies can enter information on bosiden. The information on bosiden shall not be disclosed to anyone other than those who by law or authorized by law are entitled to receive it.
The King may issue further regulations on electronic communication under this Act and whether the electronic bosidene, including rules on the signing, authentication, integrity and confidentiality rules and requirements for products, services and standards required for such communication.
The King may issue regulations concerning limited access to information that is electronically available, the deletion of information from bosidene and the duties of the trustee and the driver of Bankruptcies. King may by regulations also make provision for exemption from the license requirement, cf. Act 14 April 2000. 31 on the processing of personal data § 33
King may issue regulations with further provisions on the implementation of the announcement, including information to be published when the announcement will have an abbreviated form and deletion of electronically stored announcement information.
§ 156 a. Subscription Agreements driver of Bankruptcies will offer subscription schemes to information under this Act shall be published in the Brønnøysund Register electronic bulletin for public announcements. The King may issue further regulations on the scheme, including the types of subscriptions to be offered, technical requirements to be a subscriber and on financing. King may by regulations also provide rules requiring claimants and public authorities should be able to subscribe to information from electronic bosider in Brønnøysundregistrene.
§ 157. Remuneration of debt tribunal members, the trustee and the creditor committee members. When a debt negotiation can be adjusted or discontinued, the debt settlement committee put forward proposals for the district court to compensation for debt tribunal members. When a bankruptcy proceedings be terminated, the trustee shall or trustees, if appointed liquidation committee, put forward proposals for the right to remuneration for the trustee and the creditor committee members. In connection with the proposal will be given information about the commissions, collection fees and possible other income that the mentioned persons had in connection with the bankruptcy proceedings.
The proposal shall be submitted to the debtor for comment. In bankruptcy the proposal shall be submitted to creditors for consideration in connection with the final accounts for the estate issued, cf. § 122. The proposal shall also be submitted to creditors when setting the debt negotiation under § 57.
Court determines the then remuneration by court. Debt Tribunal manager or trustee shall immediately notify the debtor about the remuneration to be determined.
If a member of the debt settlement committee, trustee or member of the creditors committee has been guilty of misconduct in the performance of their duties, shall be the determination of their remuneration to be taken into account when it only awarded reduced remuneration or through compensation entirely denied. Before being taken such a decision it shall be given the opportunity to comment.
Advances on compensation can bankrupt granted only with the consent of the court.
§ 158. Remuneration of auditors. When the auditor has concluded its work, the auditor shall submit proposals for the district court to the remuneration accruing to them. The proposal shall be submitted to the debt settlement committee, respectively trustee or trustees if it is established creditors committee, for comment. § 157, second to fifth paragraph apply correspondingly.
§ 159. Remuneration of expert assistants and supervision. Remuneration of expert assistants and supervision shall be determined by agreement. Agreement is not reached, the tribunal shall determine the remuneration by court.
§ 160. Confidentiality. Members of the debt settlement committee, trustee, members of the creditors committee, auditors, advisers and supervision and their clerks or assistants shall to the extent it is consistent with the bankruptcy proceedings maintain secrecy about what they in the discharge of their duties has learned about the debtor's personal circumstances. They should also refrain from disclosing what they have learned of the other's personal circumstances, to the extent that the debtor would have had confidentiality about this pursuant to law.
Violation of confidentiality is punishable as provided in Penal Code § 209.
Fourth part. Cross-border insolvency proceedings, etc.
§ 161. Treaties with foreign states about debt negotiation and bankruptcy. By agreement with a foreign state may be adopted that:
debt negotiation or debt settlement proceedings opened in one of the States should be able to prevent the opening of debt negotiation, debt settlement proceedings or bankruptcy and restricting the freedom to enforcement in the other State, and that resolved the debt settlement and enforceable insolvency, including chord under bankruptcy shall have binding effect also in the other State;
bankruptcy opened in one of the States should be able to prevent the opening of debt negotiation, debt settlement proceedings or bankruptcy of the other State, the bankruptcy will have direct effect on the debtor's assets in the other State and enforceable final raffles or by raffles shall have binding effect also in the other State.
It might Agreement stipulated provisions about which of the states' legal rules that apply to the issues arising under the bankruptcy proceedings, and in this regard made the adjustments to this Act that are necessary.
§ 162. Supplementary regulations. The King may issue regulations to implement and supplement the provisions of this Act and the Convention pursuant to § 161.