Article 51. Judicial Acts on Insolvency Cases

Based on the results of consideration of the insolvency case, the court shall adopt one of the following judicial acts:

decision to declare the debtor bankrupt and commence liquidation proceedings;

decision to refuse to declare the debtor bankrupt;

ruling on the introduction of the procedure of judicial rehabilitation and the extension of its term;

ruling on the introduction of the external management procedure and the extension of its term;

ruling on termination of proceedings on insolvency case;

ruling on non-consideration of the application for initiation of insolvency proceedings;

ruling on the approval of the settlement agreement.

Judicial acts on an insolvency case shall be subject to immediate execution, unless otherwise provided by this Law. A copy of the judicial act on the case of insolvency shall be immediately sent by the court to the state executor at the location (residence) of the debtor.