Definition of Refusal to Initiate Debt Restructuring
The decision on refusal to initiate debt restructuring — a decision on refusal to initiate debt restructuring if the debtor has not submitted a statement with an attached report prepared in accordance with the requirements established by Article 38.1 of this Federal law, or a statement is submitted which, taking into account the position of creditors, does not allow a conclusion regarding the possibility of restoring the debtor's solvency, and on termination of proceedings under the bankruptcy case in the absence of applications for debt restructuring, applications for recognition of the debtor as bankrupt1.
Federal Law No. 127-FZ of October 26, 2002 "On Insolvency (Bankruptcy)", as amended on July 27, 2027, Article 48, paragraph 1 // Official Gazette of the Russian Federation. 2002. No. 43. Item 4190. ↩