RESOLUTION OF THE CABINET OF MINISTERS OF UKRAINE

of March 17, 2000 No. 515

About approval of the Procedure for carrying out pre-judicial sanitation of the state companies

According to article 3 of the Law of Ukraine "About recovery of solvency of the debtor or recognition by his bankrupt" the Cabinet of Ministers of Ukraine decides:

1. Approve the Procedure for carrying out pre-judicial sanitation of the state companies it (is applied).

2. Declare invalid the resolution of the Cabinet of Ministers of Ukraine of February 8, 1994 of N67 "About Approval of the Regulations on Procedure for Carrying Out Sanitation of the State Companies" (the joint venture of Ukraine, 1994 N 6, the Art. 141).

Approved by the resolution of the Cabinet of Ministers of Ukraine of March 17, 2000, No. 515

Procedure for carrying out pre-judicial sanitation of the state companies

1. Pre-judicial sanitation is system of the actions for recovery of solvency of the state debtor enterprise performed by body authorized to manage state-owned property (further - authorized body) the debtor, for the purpose of prevention of its bankruptcy prior to initiation of proceedings about bankruptcy.

2. The initiative concerning carrying out pre-judicial sanitation can proceed from authorized bodies, the companies, creditors or other persons.

Offers on carrying out pre-judicial sanitation go to authorized body.

3. The authorized body in case of identification of signs of insolvency of the company makes the decision on carrying out pre-judicial sanitation.

The director in five-day time from the date of its obtaining notifies on the decision to carry out pre-judicial sanitation of creditors.

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