of July 18, 2000 No. 423-Z
About economic insolvency (bankruptcy)
Accepted by the House of Representatives on June 22, 2000
Approved by Council of the Republic on June 30, 2000
Only for the purposes of this Law the terms used in it have the following value: the anti-recessionary managing director the physical person or legal entity designated by economic court for carrying out some insolvency proceedings and implementation of other powers of the anti-recessionary managing director according to this Law (further - the managing director);
the interim manager - the physical person or legal entity designated by economic court for the purpose of verification of presence of the bases for initiation of bankruptcy proceedings, and also implementation of measures for ensuring safety of property of the debtor and other powers of the interim manager according to this Law;
the city-forming organization - the legal entity whose number of workers constitutes at least one fourth part of occupied population (workplaces) of the respective settlement or due to functioning (activities) of which is supported life support of the respective settlement;
monetary commitment - obligation to pay to the creditor certain sum of money under the agreement and in other cases provided by the civil legislation;
the debtor - the insolvent individual entrepreneur or the insolvent legal entity, being the commercial organization, except for the state company, or the non-profit organization operating in the form of consumer cooperative, charity or other foundation;
interested persons concerning the debtor - the individual entrepreneur - interested persons concerning the physical person which is the debtor - the individual entrepreneur, the chief accountant (accountant) of the debtor - the individual entrepreneur, including the stopped employment or civil relations with this debtor if until initiation of proceeedings about bankruptcy there passed no more than one year. Concerning the debtor - the individual entrepreneur also persons recognized according to this Law interested persons concerning the physical persons specified in this paragraph are considered as interested persons;
interested persons concerning the debtor - the legal entity:
the legal entity who is the main, dependent or affiliated in relation to the debtor - to the legal entity;
the debtor's head - the legal entity, and also persons entering into the board of directors (supervisory board) of the debtor, collegiate executive body or other body of the debtor - the legal entity, or the other persons authorized according to constituent documents, agreements or the legislation to manage the debtor - the legal entity, the chief accountant (accountant) of the debtor - the legal entity, including the dismissed and (or) stopped employment or civil relations with this debtor if until initiation of proceeedings about bankruptcy there passed no more than one year. Concerning the debtor - the legal entity also persons recognized according to this Law interested persons concerning the physical persons specified in this paragraph are considered as interested persons;
interested persons concerning the creditor (the competitive creditor):
interested persons concerning the physical person which is the creditor (the competitive creditor);
the legal entity who is the main, dependent or affiliated in relation to the creditor (the competitive creditor) - to the legal entity;
the creditor's head (the competitive creditor) - the legal entity, and also persons entering into the board of directors (supervisory board) of the creditor (the competitive creditor), collegiate executive body or other body of the creditor (the competitive creditor) - the legal entity, or the other persons authorized according to constituent documents, agreements or the legislation to perform management functions concerning the creditor (the competitive creditor) of the legal entity, the chief accountant (accountant) of the creditor (the competitive creditor) - the legal entity, including the dismissed and (or) stopped employment or civil relations with this creditor (the competitive creditor) if until initiation of proceeedings about bankruptcy there passed no more than one year. Concerning the creditor (the competitive creditor) - the legal entity also persons recognized according to this Law interested persons concerning the physical persons specified in this paragraph are considered as interested persons;
the other persons recognized according to legal acts interested persons concerning the creditor (the competitive creditor);
interested persons concerning physical person - the spouse (spouse), relatives on the direct ascending and descending line, sisters, brothers and relatives of sisters and brothers on the descending line, relatives of the spouse (spouse) on the direct ascending and descending line, sisters and brothers of the spouse (spouse) and relatives of sisters and brothers of the spouse (spouse) on the direct descending line, and also other members of the family of physical person;
interested persons concerning managing (interim manager):
the legal entity who is the main, dependent or affiliated in relation to managing (interim manager) - to the legal entity;
the head of managing (interim manager) of the legal entity, and also persons entering into the board of directors (supervisory board) of managing (interim manager), collegiate executive body or other body of managing (interim manager) - the legal entity, or other physical persons authorized according to constituent documents, agreements or the legislation to perform management functions concerning managing (interim manager) - the legal entity, the chief accountant (accountant) of managing (interim manager) of the legal entity, including the dismissed and (or) stopped employment or civil relations with this managing (interim manager) if until initiation of proceeedings about bankruptcy there passed no more than one year. Concerning managing (interim manager) - the legal entity also persons recognized according to this Law interested persons concerning the physical persons specified in this paragraph are considered as interested persons;
interested persons concerning the physical person who is managing (interim manager);
the protective period - the insolvency proceeding applied to the debtor from the moment of adoption by economic court of the statement for bankruptcy before the termination of the term determined according to this Law for the purpose of verification of presence of the bases for initiation of bankruptcy proceedings and ensuring safety of property of the debtor;
bankruptcy proceedings - the insolvency proceeding performed for the purpose of the greatest possible satisfaction of requirements of creditors in the established priority, protection of the rights and legitimate interests of the debtor and also creditors and other persons in the course of sanitation, and in case of impossibility of carrying out sanitation or lack of the bases for its carrying out - in the course of liquidation of the debtor - the legal entity or the termination of activities of the debtor - the individual entrepreneur and release it from debts;
competitive creditors are creditors according to payment obligations, except for citizens before whom the debtor bears responsibility for damnification of their life or to health, and also founders (participants) of the debtor - the legal entity, before which the debtor bears responsibility according to the obligations following from such participation or the employee representative of the debtor - according to the obligations following from the employment and related relationships;
liquidating production - the procedure of bankruptcy proceedings applied to the debtor declared bankrupt for the purpose of liquidation of the debtor - the legal entity or the termination of activities of the dolzhnikaindividualny entrepreneur and release it from debts, sale of property of the debtor and adequate consideration of requirements of creditors;
the voluntary settlement in proceeedings about bankrotstveprotsedur of bankruptcy in agreement type between the debtor (persons, in accordance with the established procedure speakers from his name) and competitive creditors about payment of debts in which are provided release of the debtor from debts, either reduction of debts, or payment by installments of their payment, and also payment due date of debts, etc. (further - the voluntary settlement);
insolvency - inability to meet requirements of the creditor (creditors) for monetary commitments, and also for the obligations following from the employment and related relationships and (or) to fulfill duty on payment of obligatory payments;
obligatory payments - taxes, charges, duties and other payments in the budget of appropriate level and state non-budgetary funds which the debtor shall pay according to the legislation, including the economic (financial) sanctions applied to the debtor;
payment obligations - obligation of the debtor to fulfill monetary commitments and (or) to make obligatory payments;
the employee representative of the debtor - person authorized by workers of the debtor to represent their interests;
restructuring - change (rationalization) production, organizational, social, financial and other fields of activity of the debtor for the purpose of recovery of its profitable work and increase in competitiveness;
the debtor's head - the legal entity - sole executive body of the debtor - the legal entity, and also the other persons performing according to the legislation activities on behalf of the debtor - the legal entity without power of attorney (the debtor's daleerukovoditel);
sanitation - the procedure of bankruptcy proceedings providing transition of the property right, change of contractual and other commitments, reorganization, restructuring or providing financial support to the debtor, performed for recovery of its steady solvency and settlement of relations of the debtor and creditors at the scheduled time;
economic insolvency (bankruptcy) the insolvency having or acquiring steady nature, recognized by economic court according to this Law or legally declared the debtor according to requirements of this Law (further - bankruptcy).
This Law establishes the bases for recognition of the debtor by economic court by the bankrupt or announcements the debtor about the bankruptcy, regulates procedure and conditions of carrying out proceeedings about bankruptcy, implementation of measures for the prevention of bankruptcy and other relations arising in case of insolvency of the debtor for the purpose of carrying out its sanitation, and in case of impossibility of carrying out sanitation or lack of the bases for its carrying out - in the course of liquidation of the debtor - the legal entity or the termination of activities of the debtor - the individual entrepreneur and release it from debts.
If other is not established by the Constitution of the Republic of Belarus, the President of the Republic of Belarus can establish the corresponding legal act the bases for suspension of any procedure of process of bankruptcy or related, provide withdrawals, including individual legal nature, from the sphere of legal regulation of this Law, and also take other necessary measures for protection of sovereignty of the Republic of Belarus, its homeland security and territorial integrity, public order, life and health of the population, the rights and freedoms of citizens, ensuring political and economic stability, succession and interaction of public authorities.
If in the international treaty of the Republic of Belarus other rules are established, than those which contain in this Law are applied rules of the international treaty of the Republic of Belarus.
Provisions of this Law are applied to the relations regulated by this Law in which foreign persons as creditors participate if other is not provided by the international treaty of the Republic of Belarus.
Decisions of the courts of foreign states on cases on bankruptcy are recognized in the territory of the Republic of Belarus according to international treaties of the Republic of Belarus.
In the absence of the international treaties of the Republic of Belarus concerning bankruptcy, court resolutions of foreign states on cases on bankruptcy are recognized in the territory of the Republic of Belarus on the basis of the principle of reciprocity and other rules of international law valid for the Republic of Belarus if other is not provided by the legal acts and rules of international law valid for the Republic of Belarus.
The structure and the size of payment obligations, and also the obligations following from the employment and related relationships are determined at the time of giving in economic court of the statement for bankruptcy of the debtor if other is not provided by this Law.
In case of determination of availability of the bases for initiation of bankruptcy proceedings concerning the debtor are taken into account:
the size of the obligations following from the employment and related relationships;
the size of payment obligations, including the size of debt for the transferred goods, the performed works and the rendered services, and also loan not amounts repaid taking into account the percent which are subject to payment by the debtor, except for:
obligations to citizens according to which the debtor bears responsibility for damnification of their life or to health;
the obligations to founders (participants) of dolzhnikayuridichesky person following from such participation;
the percent and penalty (penalty, penalty fee) which are subject to payment for non-execution or improper execution of monetary commitments.
The size of payment obligations according to requirements of creditors to the debtor is considered established if it is confirmed with the decision of general or economic court which took legal effect, executive documents, and also in other cases provided by this Law.
In case the debtor disputes requirements of creditors, the size of monetary commitments and (or) obligatory payments is determined by economic court according to the procedure, established by this Law.
Cases on bankruptcy are considered by economic courts according to the Economic Procedure Code of the Republic of Belarus, and also other legal acts according to the procedure, established by this Law.
The economic court when considering the case about bankruptcy has the right to resolve disputes on recognition of transactions invalid and other disputes between legal and (or) physical persons connected with property of the debtor including on the collection of the salary or other remuneration illegally paid by the debtor.
The debtor, the creditor (including the employee representative of the debtor - according to the obligations following from the employment and related relationships), the prosecutor, state body on cases on bankruptcy, other representatives on that state bodies, and also legal entities and physical persons in cases and procedure, stipulated by the legislation have rights to giving in economic court of the statement for bankruptcy of the debtor in connection with non-execution of monetary commitments (further - authorized body).
The debtor, the prosecutor, state body on cases on bankruptcy, tax and other authorized bodies have rights to giving in economic court of the statement for bankruptcy of the debtor in connection with non-execution of obligation on payment of obligatory payments.
The basis for filing of application of the debtor about the bankruptcy (further - the statement of the debtor) is its insolvency if it has steady nature.
The debtor has the right to submit to economic court the application of the debtor in the presence of the circumstances obviously testimonial of the fact that he will not be able to fulfill at the scheduled time the payment obligations and (or) obligations following from the employment and related relationships in view of the insolvency acquiring steady nature (in bankruptcy anticipation).
The debtor - the legal entity submits to economic court the application of the debtor based on the decision of body (persons), representative (representatives) according to constituent documents of the debtor - the legal entity for decision making about its liquidation, or based on the decision of the body authorized by the owner of property of the debtor - the unitary enterprise if other is not provided by this Law.
The debtor shall in time, not exceeding ten days from the date of filing of application of the debtor or receipt of the corresponding notice, to notify the labor collective (group of employees of the organization) on giving in economic court of the statement of the debtor or on the notice its economic court about filing of application about bankruptcy of this debtor by other persons.
The debtor shall submit the application of the debtor to economic court in cases when:
the satisfaction of requirements of one creditor or several creditors leads to impossibility of performance of monetary commitments of the debtor in full before other creditors or to the termination of activities of the debtor - the legal entity;
the body (persons) authorized (representatives) according to constituent documents of the debtor - the legal entity on decision making about its liquidation, makes the decision on giving in economic court of the statement of the debtor;
the body authorized by the owner of property of the dolzhnikaunitarny company makes the decision on giving in economic court of the statement of the debtor;
the circumstance provided by part one of article 247 of this Law is revealed.
The debtor's head, liquidation commission (liquidator), and also other authorized bodies shall submit the application of the debtor to economic court if when carrying out liquidation of the legal entity the impossibility of satisfaction of requirements of creditors in full is established.
In the cases provided by parts one and the second this Article, the application of the debtor shall be submitted to economic court no later than one month from the moment of emergence of the corresponding basis.
Not submission of the statement of the debtor by the debtor in cases and term, provided by this Article, attracts subsidiary responsibility of persons, guilty of it, authorized to make or making the decision on filing of application of the debtor according to the payment obligations and (or) obligations which are following from the employment and related relationships, arose after the term provided by part three of this Article.
If the application of the debtor in the presence at person on behalf of whom this application, opportunities to meet requirements of creditors in full (false bankruptcy), then person on behalf of whom the application is submitted is submitted is submitted to economic court, bears before creditors liability for damages (harm, including moral), caused by this action if other is not stipulated by the legislation.
In case of bankruptcy of the debtor because of his founders (participants), the owner of its property or other persons, including the head of the debtor having the right to give instructions, obligatory for the debtor, or having opportunity otherwise to determine its actions (deliberate bankruptcy), subsidiary responsibility according to obligations of the last can be conferred on such persons in case of insufficiency of property of the debtor.
The right to filing of application of the creditor about recognition of the debtor by the bankrupt (further - the statement of the creditor) persons recognized according to this Law competitive creditors have if other is not provided by this Law.
The right to filing of application of the creditor in economic court on behalf of the Republic of Belarus, administrative and territorial units of the Republic of Belarus authorized bodies have.
Provisions of this Law on creditors are applied to tax and other authorized bodies if other is not provided by this Law.
Can be the bases for filing of application of the creditor:
availability at the creditor of reliable data about insolvency of the debtor if this insolvency has or acquires steady nature;
application to the debtor of the forced execution which is not made within one month for the lack of property or identification in the course of forced execution that the debtor has no the property sufficient for satisfaction of requirements imposed to it;
non-execution by the debtor of the payment obligation during the term established by the creditor for debt repayment after which the creditor intends to submit the application of the creditor. Duration of the term established by the creditor for debt repayment after which he intends to submit the application of the creditor cannot be less than one month;
nonpayment of money to the creditor (creditors) according to the obligations following from the employment and related relationships, during term, stipulated by the legislation or established according to it;
the insolvency of the debtor intentionally caused by act of the debtor - the individual entrepreneur and (or) act of the physical person which is the interested person concerning the debtor in which they are brought to trial according to the law;
concealment or waste of property of the debtor or making of other actions by the debtor - the individual entrepreneur or the interested person concerning the debtor as a result of whom the debtor became insolvent;
insufficiency of property value of the liquidated legal entity for satisfaction of requirements of creditors (article 247 of this Law);
the message the debtor to the creditor, in economic court or in mass media about the insolvency having or acquiring steady nature including according to article 255 of this Law.
Disputes on reference of persons of law to debtors or interested persons concerning the debtor, the creditor, managing (interim manager) are permitted by economic court.
When considering the case about bankruptcy of the debtor - the legal entity the following procedures of bankruptcy are applied:
protective period;
bankruptcy proceedings;
voluntary settlement;
other insolvency proceedings provided by this Law.
When considering the case about bankruptcy of the debtor - the individual entrepreneur the following procedures of bankruptcy are applied:
bankruptcy proceedings;
voluntary settlement;
other insolvency proceedings provided by this Law.
Bankruptcy proceedings include the following procedures:
sanitation;
liquidating production.
In the absence of objections of creditors the debtor - the legal entity can declare the bankruptcy and voluntary liquidation according to the procedure established by the Section XII of this Law.
State body on cases on bankruptcy:
pursues within the competence state policy according to the prevention of bankruptcy, and also provides conditions for realization of insolvency proceedings according to this Law;
will organize system of training of managing directors;
establishes vocational requirements to managing directors and in case of determination of their professional suitability uses results of testing, including psychophysiological;
carries out certification of physical persons on compliance to their vocational requirements imposed to the managing director and also issues in accordance with the established procedure to legal entities and individual entrepreneurs special permissions (licenses) for implementation of activities of the anti-recessionary managing director in proceeedings about economic insolvency (bankruptcy) (the managing director's daleelitsenziya);
suspends licenses of the managing director and cancels licenses of the managing director;
carries out within the competence accreditation (recognition of powers) of legal entities and physical persons on implementation of expert activities for questions of bankruptcy and improvement of financial condition of debtors, and also accreditation (recognition of powers) of the organizations on implementation of training of managing directors or on conducting psychophysiological testing of candidates for managing;
provides implementation of insolvency proceeding of the absent debtor;
keeps within the competence account and solvency analysis of the state organizations, the organizations having share of state-owned property in authorized fund, and also the organizations, having the most essential value for national economy or the social sphere;
represents in the cases established by this Law, to economic court pre-trial detention about solvency of the state organizations, the organizations having share of state-owned property in authorized fund, and also the organizations, having the most essential value for national economy or the social sphere;
has the right to give to economic court in protection of state interests of the statement for bankruptcy of the city-forming organizations, the state organizations, the organizations having share of state-owned property in authorized fund, and also the organizations having the most essential value for national economy or the social sphere;
will organize at the request of general or economic court, prosecutor's office or other authorized body preparation of the conclusion about availability of signs of false bankruptcy, deliberate bankruptcy, concealment of bankruptcy or failure of indemnification to the creditor;
publishes within the competence established by this Law, regulatory legal acts;
performs other powers conferred to it by this Law and other legislation.
The state body on cases on bankruptcy forms territorial authorities which powers are established within its competence.
Legal entities, individual entrepreneurs, state bodies, their heads, other officials shall upon the demand of state body on cases on bankruptcy gratuitously submit documents and other information necessary for implementation of its functions by this body.
Founders (participants) of the debtor - the legal entity, the owner of property of the debtor - the unitary enterprise, individual entrepreneurs, state bodies, local executive and administrative organs within the competence shall take timely measures according to the prevention of bankruptcy.
For the purpose of the prevention of bankruptcy of legal entities founders (participants) of the debtor - the legal entity, the owner of property of the debtor - the unitary enterprise until giving in economic court of the statement for bankruptcy of the debtor within the competence take the measures directed to improvement of financial condition of the debtor. Creditors or other persons based on the agreement with the debtor can also take the measures directed to improvement of financial condition of the debtor.
By founders (participants) and the debtor's creditors - the legal entity, the owner of property of the debtor - the unitary enterprise and other persons within measures for the prevention of bankruptcy of the legal entity financial aid to the debtor can be provided.
Provision to the debtor of pre-judicial financial aid can be followed by acceptance on itself the debtor or other persons of obligations for benefit of persons which provided such help.
Provision conditions to the debtor of pre-judicial financial aid at the expense of the republican budget and state non-budgetary funds are determined by legal acts, and also agreements.
Provision conditions to the debtor of pre-judicial financial aid at the expense of local budgets according to the legislation are determined by acts of local executive and administrative organs, and also agreements.
According to the decision (determination) of economic court of mass media publish data on the case of bankruptcy according to the procedure, term and on the conditions established by this decision (determination) if other is not stipulated by the legislation.
According to court resolution of economic court the publication of Supreme Economic Court of the Republic of Belarus or other publication determined according to the legislation and also republican mass media publish the data connected with proceeedings about bankruptcy, according to the procedure and term, established by this court resolution at the expense of means of the debtor, and in the absence of means at it - at the expense of means of the creditor (creditors) who submitted the application of the creditor to economic court if other is not provided by legal acts.
Cases on bankruptcy of legal entities and individual entrepreneurs are considered by economic court according to the procedure, established by the Economic Procedure Code of the Republic of Belarus, taking into account the features provided by this Law and other legal acts for bankruptcy.
The regulations on hearing of cases on bankruptcy provided by this Section are applied if other is not provided by this Law.
Cases on bankruptcy of legal entities and individual entrepreneurs are considered by economic court according to the rules of cognizance established by the Economic Procedure Code of the Republic of Belarus.
Case on bankruptcy cannot be submitted to reference tribunal.
Persons participating in the case of bankruptcy are:
debtor;
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The document ceased to be valid according to the Law of the Republic of Belarus of 13.07.2012 No. 415-Z