Article 109. Consequences of Introduction of External Management Procedure

Since the introduction of the external management procedure:

the head of the debtor shall be removed from the performance of duties, the management of the affairs of the debtor shall be entrusted to an external manager. The external manager shall be obliged to issue an order to terminate the employment contract with the head of the debtor or to transfer them to another job;

powers of the debtor's governing bodies shall be terminated. The powers of the head of the debtor and other management bodies of the debtor shall be transferred to the external manager, with the exception of the powers transferred in accordance with this Law to other persons (bodies). The debtor's management bodies, within three working days from the date of appointment of the external manager, shall be obliged to ensure the transfer of the accounting documentation and other documentation of the debtor, seals and stamps upon availability of seals and stamps), material and other valuables to the external manager;

previously taken measures to secure the claims of creditors shall be cancelled;

seizure of the debtor's property and other restrictions on the debtor's powers to dispose of their property may be imposed exclusively within the framework of insolvency procedures;

payment of all current tax payments (with the exception of payroll taxes and equivalent payments) incurred in the course of insolvency proceedings shall be suspended and shall be paid after the expiration of the external management procedure. In this case, these tax debts must be paid in equal installments within six months from the date of approval by the court of the report of the external manager and the ruling to terminate the insolvency proceedings against the debtor;

a moratorium shall be introduced on satisfying the claims of creditors for monetary obligations and (or) taxes and fees of the debtor, except for the cases provided for in Article 110 of this Law.

The fruits, products and income from the use of the debtor's property provided as security for the fulfillment of obligations prior to the introduction of the external management procedure, received after the introduction of this procedure, shall not be subject to the right of the creditor as security for the performance of their claims.

Upon termination of external management, the forfeit (fine, penalty fee), as well as the amounts of losses caused, which the debtor is obliged to pay to creditors for monetary obligations and (or) taxes and fees, may be presented for payment in the amounts that existed at the time of the introduction of external management.