Article 213. Consequences of Approving Natural Personʼs Plan for Restructuring Debt

From the date of approval by the court of the plan for restructuring the debt of a natural person, the following consequences shall occur:

claims of creditors included in the plan shall be presented to a natural person only in the manner and on the terms provided for by this plan;

claims of creditors not included in the plan may be presented to a natural person in the manner prescribed by this Law;

creditors shall not be entitled to claim compensation for losses incurred by them after the approval of the plan;

termination of the claims of a natural person for monetary obligations by offsetting a counter claim shall not be allowed, unless the plan provides otherwise;

forfeits (fines, penalties) and other sanctions for non-fulfillment or improper fulfillment of financial obligations and duties on taxes and fees, as well as interest on payment terms that are included in the plan, but not fulfilled or improperly fulfilled, shall not be accrued, except for current payments;

natural person shall be obliged to notify in writing the creditor and the relevant authorized body of a significant change in their property status in relation to the established plan for restructuring their debt within fifteen days from the date of such a change. The criteria for a significant change in the property status of a natural person shall be established in the plan for restructuring their debt.

During the period of execution of the plan for restructuring the debt of a natural person, the debtor, who is a natural person shall not be entitled to hide the implementation of this plan when applying for a loan, as well as when purchasing goods (works, services) on credit.

Creditors and (or) the relevant authorized body, whose claims are not included in the debt restructuring plan of a natural person, shall have the right to present these claims during the approval of the plan in the manner prescribed by this Law. Such claims included in the register of creditors' claims shall be satisfied on the general terms and conditions provided for by the debt restructuring plan of a natural person.