Article 224. Consequences of Completion of Insolvency Case with Respect to Natural Person

Within five years from the date of completion of the procedure for the sale of property in relation to a natural person or the termination of proceedings on an insolvency case, this person shall not be entitled to assume obligations under credit agreements and (or) loan agreements without reporting the fact that an insolvency case has been initiated against them.

Within five years from the date of completion of the procedure for the sale of property in respect of a natural person or the termination of insolvency proceedings, an insolvency case may not be initiated at the request of this natural person.

In the event of a repeated recognition of a natural person as insolvent within five years on the basis of an application by a creditor or the relevant authorized body, the rule on the release of a natural person from obligations, provided for by part three of Article 222 of this Law, shall not be applied to the natural person.

After the completion of the procedure for the sale of the property of a natural person, the court shall issue a writ of execution in the manner prescribed by legislation, for claims not filed during the insolvency proceedings, for which the payment deadline has come.