Article 211. Consideration by Court of Debt Restructuring Plan for Natural Person

The plan for restructuring the debt of a natural person, approved by the meeting of creditors, shall be subject to approval by the court, if, in accordance with Article 221 of this Law, it provides for the full satisfaction of claims for current obligations that must be satisfied, the claims of creditors of the first and second priority included in the register of creditors' claims.

If the meeting of creditors does not approve the plan for restructuring the debt of a natural person, when applying to the court of a person participating in the case on the insolvency of a natural person with a petition for an additional period for finalizing the said plan, the court may postpone consideration of the issue of approving the plan for restructuring the debt of a natural person.

An additional period for finalizing the plan for restructuring the debt of a natural person, provided by the court, may not exceed two months.

The court, based on the results of consideration of the debt restructuring plan for a natural person, shall adopt one of the following decisions:

ruling on approval of the plan for restructuring the debt of a natural person;

decision to refuse to approve a plan for restructuring the debt of a natural person, as well as to declare a natural person bankrupt and introduce a procedure for selling their property.

If the meeting of creditors does not approve the plan for restructuring the debt of a natural person, the court shall have the right to approve this plan under the following circumstances:

implementation of the plan will provide an opportunity to fully satisfy the claims of all creditors of a natural person;

as a result of the sale of the property of a natural person, as well as the size of their average six-month income, shall satisfy not less than fifty percent of the claims of the creditor and the relevant authorized body.

Judicial acts provided for by this article may be appealed (protested).