Department for Work with Insolvent Debtors

Implementation within the competence of the Department, in accordance with the procedure established by law, of control over the conduct of rehabilitation procedures, restoration of solvency and bankruptcy.

appoints the candidate submitted by the creditors' meeting to the rehabilitation or bankruptcy managers;
appoints a financial manager from among the persons whose notifications about the beginning of the activities of financial managers are included in the state electronic register of permits and notifications in accordance with the legislation of the Republic of Kazakhstan on permits and notifications
suspends rehabilitation and bankruptcy managers;
carries out state control over the conduct of rehabilitation procedures, bankruptcy procedures, restoration of solvency and bankruptcy of citizens of the Republic of Kazakhstan;
considers the current information of the rehabilitation manager on the progress of the rehabilitation procedure, the temporary manager on the progress of collecting information on the financial condition of the debtor and the bankruptcy procedure, the bankruptcy manager on the progress of the bankruptcy procedure;
approves the forms of the final report of the rehabilitation and bankruptcy managers;
monitors compliance with the procedure for conducting an electronic auction for the sale of the debtor's property (assets);
approves the sale of the bankrupt's property by the temporary manager in the case provided for by this Law;
identifies signs of deliberate bankruptcy;
examines complaints about the actions of the administrator, financial manager;
Takes measures to identify transactions made under the circumstances specified in Article 7 of this Law;
defines the accounting procedure for administrators, the appointment and dismissal of rehabilitation and bankruptcy managers, as well as the procedure for improving the administrator's qualifications;
approves standard forms of the conclusion of the temporary administrator and the bankrupt manager on the effectiveness (inefficiency) of the rehabilitation plan;
challenges in court the decisions and actions (inaction) of the administrator in case of violations of this Law;
approves standard forms of the interim manager's opinion on the debtor's financial situation;
publishes on the Internet resource of the authorized body a list of bankrupts in respect of which court decisions on declaring them bankrupt have entered into force.
places information on the Internet resource of the authorized body on the notifications sent by persons about the beginning or termination of the activities of financial managers, the conditions for sending such notifications;
publishes on the Internet resource of the authorized body a list of citizens in respect of whom bankruptcy procedures of citizens of the Republic of Kazakhstan have been applied, terminated and completed;
exercises state control over the activities of the financial manager in the procedures for restoring solvency and judicial bankruptcy;
develops and approves the rules for monitoring the financial condition of the debtor;