Article 170. Consequences of Recognizing Settlement Agreement as Invalid

Recognition of the settlement agreement as invalid shall be the basis for the resumption of the insolvency proceedings. The court shall issue a ruling on the resumption of insolvency proceedings, which may be appealed (protested against).

If the settlement agreement is recognized as invalid, the claims of creditors for which a deferral and (or) installment of payments due to them or a discount from debts was made, shall be restored in their unsatisfied part.

Recognition of the settlement agreement as invalid shall not entail the obligation to return to the debtor the repaid expenses and satisfy the requirements provided for by the first part of Article 165 of this Law.

In the part not regulated by this article, the consequences of the invalidity of transactions provided for by legislation shall occur.

If the settlement agreement is declared invalid, the notice of the resumption of proceedings on the debtor's insolvency case shall be published in the mass media by the court at the expense of the debtor's property in the manner prescribed by Articles 53 and 54 of this Law.

Claims of creditors with whom settlements have been made on the terms of a settlement agreement that do not contradict this Law shall be considered repaid. Creditors whose claims have been satisfied in accordance with the terms of the settlement agreement, which provide for their advantages or infringement of the rights and legitimate interests of other creditors, shall be obliged to return everything received as a result of the execution of the settlement agreement. In this respect, these claims shall be restored in the register of creditors' claims.