LAW OF THE AZERBAIJAN REPUBLIC

of April 23, 2019 No. 1569-VQD

About introduction of amendments to 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:

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, No. 12, book I, Article 2529; 2019, No. 1, Article 28) to make the following changes:

1. In the fourth paragraph of Article 2 of the word to "physical persons and legal entities" shall be replaced with words "to the company and the individual debtor".

2. To state the Items "a", "b", "v" of Article 3 in the following edition:

a) the debtor did not perform fully within 2 (two) months in a row from the moment of the beginning of completion date of the obligation on compensation of damage caused to life and health, collection of the alimony, obligations on the employment and related relationships, obligations to the creditors connected with remuneration under the author's agreement;

b) the debtor did not perform fully tax (percent and the applied financial sanctions) and other state payments within 10 (ten) months in a row from the date of their charge;

c) the debtor did not fulfill at the scheduled time the obligation to other creditors.".

3. Under article 9th:

3.1. Exclude the offer first of part 1 and in the second offer to replace the word "In the Announcement" with the words "In the Announcement of Legal Proceedings on the case of Bankruptcy";

3.2. After the words "in Item the 1st Articles" to add the word "and in article 10-1 of this Law" to 2 parts;

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