Article 223. Reopening of Insolvency Case of Natural Person
On insolvency (LRU-763-son) · Date: 12.04.2022 · In force
If evidence of the concealment of the property of the debtor, who is a natural person or the illegal transfer of the property of a natural person to third parties is revealed, the creditor or the relevant authorized body, whose claims were not satisfied during the insolvency procedure of a natural person, shall have the right to apply to the court to review the ruling on completion of the insolvency procedure.
The ruling on the completion of the insolvency procedure of a natural person may be reviewed in the manner prescribed by part one of this article, due to newly discovered circumstances that were not known to the creditor or the relevant authorized body as of the date of issuance of this ruling.
The creditor or the relevant authorized body shall have the right to file an application for revising the ruling on the completion of the insolvency procedure of a natural person on the grounds established by this article, within one month from the date of discovery of the circumstances that are the basis for the revision of this ruling by the court.
The cancellation of the court ruling on the completion of the insolvency procedure of a natural person shall be the basis for resuming the insolvency proceedings. The court shall issue a ruling on the resumption of proceedings on the insolvency case of a natural person, which may be appealed (protested against).
When resuming proceedings on the insolvency case of a natural person, a procedure for the sale of their property shall be introduced.
In case of cancellation of the ruling on the completion of the insolvency procedure of a natural person, the publication of a notice on the resumption of proceedings on the insolvency case of a natural person shall be carried out in accordance with the procedure established by this Law.
From the date of cancellation of the ruling on the completion of the insolvency procedure of a natural person, upon resumption of proceedings on the insolvency case of a natural person, a part of the debt unsatisfied in the register of creditors' claims before the completion of the insolvency procedure shall be restored. Other creditors or the relevant authorized body shall have the right to submit their claims in the manner prescribed by this Law.
The composition and amount of claims of creditors and (or) the relevant authorized body shall be determined as of the date of resumption of proceedings on the insolvency case of a natural person.
