of October 2, 2012 No. 5405-VI
About modification of some legal acts of Ukraine concerning accomplishment of economic obligations
The Verkhovna Rada of Ukraine decides:
I. Make changes to the following legal acts of Ukraine:
1. Article 86 of the Economic Procedure Code of Ukraine (6, the Art. 56) to add sheets of the Verkhovna Rada of Ukraine, 1992 No. with part three of the following content:
"The resolution of economic court, except the cases provided by part one of this Article is taken out also concerning property attachment or removal of arrest from it in case of recognition invalid the credit agreement in which accomplishment of the obligation of the borrower is provided with pledge of property, and also in case of recognition invalid agreements of pledge to which accomplishment by the borrower of the obligations according to the credit agreement is provided".
2. Article 345 of the Economic code of Ukraine (144) to add sheets of the Verkhovna Rada of Ukraine, 2003 No. No. 18-22, of the Art. with part three of the following content:
"3. Consequence in law of invalidity of the credit agreement, and also invalidity of the agreement of pledge to which accomplishment by the borrower of the obligations according to the credit agreement is provided are determined by the Civil code of Ukraine".
3. The civil code of Ukraine (356) to add sheets of the Verkhovna Rada of Ukraine, 2003 No. No. 40-44, of the Art. with Article 1057-1 of the following content:
"Article 1057-1. Consequence in law of invalidity of the credit agreement
1. In case of recognition invalid the credit agreement the court according to the statement of the party without fail applies the effects of invalidity of the transaction provided by part one of article 216 of this Code and determines sum of money which shall be returned to the loan provider.
2. Nullifying the credit agreement in which accomplishment of the obligation of the borrower is provided with pledge of property of the borrower or guarantor, court according to the statement of the loan provider imposes arrest such property.
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