Main duties and practical skills:
In order to consider issuing a decision on application of procedures for recovery of business operations, the Judge (of the Judges’ Team) must check and consider conditions for applying procedures for recovery of business operations and conduct activities that ensure the application of procedures for recovery of business operations. Conditions for applying procedures for recovery of business operations:
- After issuing the decision to commence bankruptcy procedures, the owner of the State enterprise shall issue a decision to apply special asset measures to such enterprise.
- The meeting of creditors has passed the plan for recovery of business operations of the enterprise or cooperative.
- The meeting of creditors has passed a resolution on approval of restructuring of business operations of the enterprise or cooperative.
- The process of carrying out the plan for recovery of business operations, as agreed by the creditors, enterprise or cooperative which has been in debt may be added or amended.
- Decision of the Court to recognize the resolution on the plan for recovery of business operations must be posted on a newspaper as provided in Article 29 of the Bankruptcy Law 2005.
- Maximum duration for carrying out the plan for recovery of business operations shall be three years. This may be shortened upon agreement by the creditors, enterprise or cooperative which has been in debt.
- The Judge shall issue a decision to suspend procedures for recovery of business operations in accordance with Article 76 and notify of such decision in accordance with Article 29 of the Bankruptcy Law.
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