Article 117. Consideration of Objections of Creditors

Objections of creditors regarding the amount, composition and order of satisfaction of their claims, determined by the external manager, filed within the time limits specified in Article 116 of this Law, shall be considered by the court no later than one month from the date of receipt of the said objections.

Based on the results of consideration of the creditors' objections, a court ruling shall be issued, which shall indicate the amount, composition and order of satisfaction of the creditors' claims, in respect of which the creditors' objections are recognized as substantiated.

A court ruling issued based on the results of considering objections of creditors may be appealed (protested against). Rulings and other judicial acts issued when considering creditors' objections in an insolvency case shall have prejudicial effect when considering creditors' claims against a debtor in a separate proceeding.

In the manner prescribed by this article, the objections of the representative of the debtor's employees on the amount and composition of arrears in wages and payment of severance pay to persons working under an employment contract shall also be considered.