Article 164. Content of Settlement Agreement
On insolvency (LRU-763-son) · Date: 12.04.2022 · In force
The settlement agreement must contain provisions on the amount, procedure and terms for the fulfillment of the debtor's monetary obligations and (or) on the termination of the debtor's monetary obligations by providing a compensation in return, novation of the obligation, by forgiving the debt or by other means provided for by legislation.
The settlement agreement may contain the following conditions:
on the postponement or installment plan of the fulfillment of monetary obligations;
on the assignment of the rights of the debtor's claim in favor of another;
on the fulfillment of the debtor's monetary obligations by third parties;
about a discount from a debt;
on changing the terms and procedure for paying taxes and fees;
on satisfaction of creditors' claims in other ways that do not contradict the legislation.
The conditions of a settlement agreement for creditors who did not take part in voting on the issue of concluding a settlement agreement, as well as those who voted against its conclusion, cannot be worse than for creditors of the same priority who voted for its conclusion.
Unless otherwise provided by the settlement agreement, the pledge of the debtor's property, which ensures the fulfillment by the debtor of the obligations assumed, shall be preserved.