Article 79. Consequences of Introduction of Monitoring Procedure

From the moment of introduction of the monitoring procedure:

execution of enforcement documents for property recovery shall be suspended, with the exception of the execution of enforcement documents issued on the basis of judicial acts on the recovery of wage arrears, the payment of remuneration under copyright agreements, alimony, as well as on compensation for harm caused to life or health, and compensation for moral damage, entered into force until the court accepts the application for initiation of insolvency proceedings. The basis for the suspension of the execution of enforcement documents shall be a court ruling on the acceptance of an application for processing and initiation of an insolvency case;

satisfaction of the claims of the founders (participants) of the debtor which is a legal entity for the allocation of a share (stock) in the property of the debtor in connection with the withdrawal from its founders (participants) shall be prohibited;

payment of dividends and other payments on issuance securities shall be prohibited.

Claims for the receipt of monetary funds from the debtor may be presented only in compliance with the procedure for presenting claims against the debtor, established by Article 87 of this Law.

From the date of the introduction by the court of the monitoring procedure in relation to the debtor, a unilateral refusal to perform or unilateral modification of contracts by the debtor's counterparty shall not allowed, even if this is allowed by agreement of the parties.

In case of disagreement on the circumstances provided for by part three of this article, the debtor's counterparty's claim to amend or terminate the contract shall be considered by the court within the framework of an insolvency case.

The court shall have the right to refuse to amend or terminate the contract if the debtor provides evidence that they will be able to perform the contract in the course of insolvency proceedings (security of obligations by another creditor or a third party provided for by civil law can be accepted as such evidence) and elimination of the delay fulfillment of obligations under the contract.

The court shall have the right to postpone the meeting of creditors until consideration of the request for amendment or termination of the contract, if the consideration of such an issue is important for the approval of the judicial rehabilitation plan and the debt repayment schedule or the external management plan.