Article 127. Sale of Part of Debtor's Property

After the inventory and appraisal of the debtor's property, part of the property may be sold in accordance with the external management plan.

Part of the property shall be sold in bidding in the form of an electronic online auction, unless otherwise provided by this article.

The sale of a part of the debtor's property should not lead to the impossibility of the debtor to carry out economic activities.

The property of the debtor, which is classified as limitedly transferable, shall be sold by holding a closed bidding in the form of an electronic online auction with the participation of persons who, in accordance with the law, may have the said property on the basis of ownership or other real right.

The initial sale price of a part of the debtor's property, which is put up for bidding in the form of an electronic online auction, shall be set by the decision of the meeting of creditors or the committee of creditors, with account taken of the assessment of the debtor's property conducted by the appraisal organization, unless otherwise provided by legislation.

Bidding in the form of an electronic online auction for the sale of a part of the debtor's property shall be conducted in the manner prescribed by Article 126 of this Law.

With the consent of the meeting of creditors, the external manager shall be entitled to sell part of the debtor's property by installments for a period of not more than one year, provided that the buyer provides appropriate guarantees from the servicing bank.

In the course of the external management procedure, the external manager, with the consent of the meeting of creditors, shall have the right to sell low-value and quickly wearing out property, as well as the remnants of raw materials and finished products of the debtor without bidding in the form of an electronic online auction directly on the basis of sales contracts.

The proceeds from the sale of a part of the debtor's property shall be distributed in the order of priority provided for in Articles 149 , 150 and 185 of this Law.