LAW OF THE AZERBAIJAN REPUBLIC

of December 28, 2018 No. 1445-VQD

About modification of the Law of the Azerbaijan Republic "About insolvency and bankruptcy"

Being guided by Items 10 and 13 of part I of article 94 of the Constitution of the Azerbaijan Republic, Millie decides Majlis of the Azerbaijan Republic:

Bring in the Law of the Azerbaijan Republic "About insolvency and bankruptcy" (Collection of the legislation of the Azerbaijan Republic, 1997, No. 6, Article 460; 2001, No. 1, Article 25, No. 6, Article 362; 2002, No. 5, Article 241; 2006, No. 3, Article 225; 2007, No. 5, Article 401; 2008, No. 5, Article 348; 2010, No. 4, Article 276; 2015, No. 4, Article 355, No. 11, Article 1260; 2017, No. 3, Article 332, No. 5, Article 736; 2018, No. 4, Article 652) following changes:

1. in the seventeenth paragraph of Article 1 "pawnbroker" shall be replaced with words the word "the holder of pledge (mortgage)".

2. add with the third offer of the following content part 5 of Article 41-1:

"During the vote within creditorny group creditors have the identical rights.".

3. under Article 47:

3.1. in the Item "in" to add parts 6 after the word "about pledge" with the words "or mortgage", in the Item "g" after the word "pledges" to add with the word "(mortgages)";

3.2. in the second offer of part 7 after the word "about pledge" to add with the words "or mortgage".

4. in article 55 part one Items "and" and "v" after the word of "pledge" to add with the words "or mortgages".

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