Article 94. Ensuring Fulfillment By Debtor of Obligations In Accordance With Debt Repayment Schedule

The debtor's fulfillment of obligations in accordance with the debt repayment schedule may be ensured in the manner prescribed by legislation.

The debtor's obligations to fulfill the debt repayment schedule shall be considered secured from the moment the court issues a ruling on the introduction of a judicial rehabilitation procedure.

An agreement on the provision of security for the fulfillment of obligations shall be concluded in writing, unless otherwise provided by law. On the part of the creditors, this agreement shall be signed by a representative of the meeting of creditors or the committee of creditors, and in the case of the introduction of a judicial rehabilitation procedure at the initiative of the court, by the rehabilitation manager, and on the other hand, by the persons who provided security for the debtorʼs fulfillment of obligations in accordance with the debt repayment schedule (hereinafter referred to as the persons who provided securities for the fulfillment of obligations).

The amount of the provided security for the fulfillment of obligations must exceed by not less than twenty percent the amount of the debtor's obligations reflected in the balance sheet as of the last reporting date and in the debt repayment schedule drawn up on the basis of claims entered in the register of creditors' claims before the meeting of creditors on the introduction of a judicial rehabilitation procedure.

Property, including property rights belonging to the debtor on the right of ownership or on other property rights, cannot serve as the subject of securing the execution by the debtor of the debt repayment schedule.

Amendments to the debt repayment schedule, as well as the introduction of a new insolvency procedure in relation to the debtor, shall not be grounds for terminating the provided security for the fulfillment of obligations.