Article 114. Rights of External Manager
On insolvency (LRU-763-son) · Date: 12.04.2022 · In force
The external manager shall exercise the powers of the head of the debtor.
The external manager shall have the right to:
convene a meeting of creditors and a committee of creditors;
dispose of the debtor's property with the restrictions provided for in Article 118 of this Law;
enter into a settlement agreement on behalf of the debtor;
receive remuneration in accordance with Article 26 of this Law;
engage other persons for performing their functions on a contractual basis with payment for their activities from the debtor's funds, unless otherwise provided by this Law or an agreement with creditors;
apply to the court for early termination of the performance of their duties;
submit to the court an application for invalidating the debtor's contracts in the manner prescribed by Articles 63 — 65 of this Law;
receive loans from commercial banks, financial institutions to restore the debtor's solvency, as well as receive financial assistance from legal entities and natural persons interested in continuing the debtor's activities;
request information and documents related to the debtor from the head of the debtor, the founders of the debtor and (or) state bodies;
to use public services, including services provided through public service centers, without making advance payments to ensure the exercise of their rights and fulfillment of their obligations;
declare a refusal to perform the debtor's contracts in the manner prescribed by Article 119 of this Law.
When exercising their rights and obligations, the external manager shall have the right to make claims against persons who, in accordance with the legislation, bear subsidiary liability for the debtor's monetary obligations in connection with bringing them to insolvency.
The external manager may also have other rights in accordance with the legislation.
