Article 104. Completion of Judicial Rehabilitation Procedure

Not later than fifteen days before the expiration of the established period of the judicial rehabilitation procedure, the head of the debtor shall be obliged to submit to the court a report on the results of the judicial rehabilitation procedure. This report must be accompanied by the debtor's balance sheet as of the last date, the debtor's financial results statement, the register of creditors' claims with indicating the amount of repaid claims and documents confirming this repayment, the conclusion of the rehabilitation manager on the report of the head of the debtor, complaints of creditors whose claims have not been repaid. The report of the head of the debtor on the results of the judicial rehabilitation procedure and the complaints of creditors shall be considered by the court at a session.

The rehabilitation manager shall be obliged to notify all creditors whose claims were included in the debt repayment schedule of the date, time and place of the court session to consider the debtor's manager's report on the results of the judicial rehabilitation procedure.

Based on the results of consideration of the report of the head of the debtor on the results of the judicial rehabilitation procedure, as well as the complaints of creditors, the court shall:

approve the report of the head of the debtor and issue a ruling on termination of the insolvency proceedings, if the outstanding debt is not revealed, and the creditors' complaints are recognized as unfounded;

refuse to approve the report of the head of the debtor, if the presence of outstanding debt is revealed and the creditors' complaints are recognized as substantiated.

In case of refusal to approve the report of the head of the debtor, the court shall issue a ruling on the introduction of an external management procedure or adopt a decision on declaring the debtor bankrupt and initiating liquidation proceedings.