The Committee on Industrial and Regulatory Policy and Entrepreneurship upholds the Bill "On Amendments to Several Legislative Acts of Ukraine" (regarding Reimbursement of Wage Arrears for the Business Entities under Bankruptcy Proceedings)

29 June 2011, 16:16

The bill (Reg. No.8620) amends and supplements the Criminal Code of Ukraine, the Code of Ukraine on Administrate Infringements and the Law "On Restoration of Debtor´s Solvency or Declaration of Bankruptcy."

 

Namely, the bill establishes criminal and administrative responsibility of insolvency officers; reimburses wage arrears in the process of enterprise bankruptcy procedure; lifts restrictions from the rate of payroll liabilities (300 minimal wages) to commence the bankruptcy procedure in case a debtor has payroll liabilities or accounts payable regarding  salaries payment; establishes a single payment for the compulsory state social insurance, taxes and charges (compulsory payments); authorizes the state executive power bodies to initiate such cases.