Article 214. Introducing Amendments to Plan for Restructuring Debt of Natural Person and Extending Term for Implementation of This Plan at Initiative of Debtor Who is Natural Person

The debtor, who is a natural person shall have the right to send proposals to the financial manager on making changes to the debt restructuring plan for their debts.

Within fifteen days from the date of receipt by the financial manager of the proposal to amend the plan for restructuring the debt of a natural person, this plan with the amendments made to it must be sent to creditors and the relevant authorized body.

The meeting of creditors shall be convened by the financial manager within a month from the date of sending the said plan with the changes made to it to the creditors and the relevant authorized body to consider the issue of approving the changes made to the debt restructuring plan of a natural person.

Based on the results of consideration of changes made to the plan for restructuring the debt of a natural person, the meeting of creditors shall adopt decision to approve or reject these changes.

Changes made to the debt restructuring plan of a natural person must be approved by the meeting of creditors by a majority vote of the total number of votes of creditors with the right to vote.

Changes made to the debt restructuring plan of a natural person shall be considered by the court.

Based on the results of consideration of changes made to the plan for restructuring the debt of a natural person, the court shall issue one of the following rulings:

on approval of changes made to this plan, if the meeting of creditors approves the changes;

on refusal to approve changes made to the plan.

The rulings of the court, provided for in the seventh part of this article, may be appealed (protested).

The court, at the petition of a natural person, may extend the term for the execution of the plan for restructuring the debt of a natural person, if the extension of the period is approved by the meeting of creditors.

The court may extend the term for the execution of the debt restructuring plan of a natural person for a period not exceeding six months without the approval of the meeting of creditors, if it is substantiated that the execution of the debt restructuring plan within the period specified in it turned out to be impossible.

The court ruling on the extension of the term for the implementation of the debt restructuring plan of a natural person may be appealed (protested).