Adopted as a basis the draft Law No. 4220 “On Amendments to Certain Legislative Acts Concerning the Settlement of Certain Issues of Bankruptcy Procedures for the Period of Measures Aimed at Preventing the Occurrence and Spread of the COVID-19 Coronavirus Disease”.
The draft law envisages amendments to the Bankruptcy Procedure Code of Ukraine and the Law of Ukraine “On Amendments to the Bankruptcy Procedure Code of Ukraine to Prevent Bankruptcy Abuses for the Period of Measures to Prevent the Occurrence and Spread of COVID-19 Coronavirus”.
The amendments propose to regulate the procedure for holding a meeting (committee) of creditors by videoconference, as well as by poll; the procedure for confirming the identity and authority of the participant of the meeting (committee) of creditors, registration of the results of the meeting (committee).
The bill proposes to determine the grounds for extending the terms of the preliminary court hearing in the bankruptcy case (insolvency), application within the framework of bankruptcy proceedings (insolvency) for invalidation of transactions committed by the debtor, the moratorium on satisfaction of creditors' claims, announcement of the first, repeated and (or) second repeated auction, implementation of the plan for rehabilitation or restructuring of the debtor's debts, procedures for disposing of property, liquidation, restructuring of the debtor's debts and repayment of the debtor's debts.
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