Article 145. Liquidation Plan

The liquidation plan should reflect:

information about the financial condition of the debtor;

conditions, procedure, sequence and proportionality of satisfaction of creditors' claims;

taking into account the interests of the owner of the debtor's property, the labor collective;

list of property to be sold;

date, time, place and method of sale of property;

terms of payment of court costs, remuneration of the liquidation manager, activities of experts and other persons.

The liquidation plan must be agreed with the meeting of creditors and shall be considered approved if it is supported by creditors representing at least two-thirds of the amount of claims. If the liquidation plan is not approved and the creditors fail to submit their own liquidation plan within the prescribed period, the liquidation manager shall approve own plan.

If the initiator of the initiation of insolvency proceedings is the debtor itself, it shall have the right to submit its own liquidation plan.

On the basis of the liquidation plan, the sale of property and the satisfaction of creditors' claims against the debtor shall be carried out in the manner prescribed by Articles 149 , 150 , 154 and 185 of this Law.