Article 100. Judicial Rehabilitation Plan and Debt Repayment Schedule
On insolvency (LRU-763-son) · Date: 12.04.2022 · In force
The plan of judicial rehabilitation shall be prepared by the head of the debtor, the founders (participants) of the debtor or the owner of the debtor's property.
The recovery plan must specify specific measures to restore the debtor's solvency.
The recovery plan should include:
measures to restore the solvency of the debtor, the conditions and procedure for the implementation of these measures, the costs of their implementation and other expenses of the debtor;
debt repayment schedule;
amount and term of the guaranteed compensation that can be received in the event of liquidation of the debtor by the creditor who voted against the approval of the judicial rehabilitation plan, or the creditor who does not have the right to vote for the approval of this plan;
recovery period of the debtor's solvency.
The plan of judicial rehabilitation may contain measures to restore the solvency of the debtor, provided for in Article 125 of this Law.
The term for the implementation of the judicial rehabilitation plan may not exceed the term provided for in the court ruling on the introduction of the judicial rehabilitation procedure.
The judicial rehabilitation plan should provide for ways in which the debtor will receive during the rehabilitation process the funds necessary to satisfy the claims of creditors in accordance with the debt repayment schedule. The plan of judicial rehabilitation must be approved by the meeting of creditors.
When considering the issue of approving the plan of judicial rehabilitation, creditors of the first and second groups shall participate in the voting.
The decision of the meeting of creditors to approve the plan of judicial rehabilitation shall be considered adopted if the majority of creditors in each of the first and second groups voted for it. In this respect, the voting creditor who voted against the approval of the rehabilitation plan and the non-voting creditor shall be entitled to a guaranteed compensation at least equal to what they would have received in the event of the liquidation of the debtor.
If the creditors of each of the first and second groups do not adopt a decision to approve the plan of judicial rehabilitation, and also the required number of votes of the creditors of one of the groups is not presented during the voting, a decision shall be adopted to apply to the court with a petition to declare the debtor bankrupt and start liquidation proceedings.
