Majilis approved amendments on rehabilitation and bankruptcy

Date: 15:53, 29-05-2019.

Astana. May 29. KazTAG - Majilis of the Parliament approved amendments on rehabilitation and bankruptcy issues, the press service of the lower house reports.
“The bill as a whole is aimed at simplifying the conditions for the use of rehabilitation and bankruptcy procedures by business entities. The terms of the procedure are reduced by transferring a number of powers of the creditors meeting to a more mobile creditors committee. A simplified liquidation of long-term inactive debtors is proposed without initiating bankruptcy proceedings," - the Majilis said on Wednesday.
The amendments provide changes in the grounds for the use of rehabilitation and bankruptcy procedures by business entities.

Photo source: picture from the open source

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