From the moment of appointment, the bankruptcy administrator assumes control over the debtor’s property. Within three business days from the date of appointment, the bankruptcy administrator is required to receive from the temporary administrator the constituent and accounting documents, title documents for the property, seals, stamps, and other assets of the bankrupt entity, and ensure their safekeeping.

For the purpose of identifying and replenishing the bankruptcy estate, the bankruptcy administrator requests information concerning the bankrupt entity and its property from state authorities, individuals, and legal entities, as well as information on the debtor’s bank accounts from the authorized body. The bankruptcy administrator files claims for the recovery of receivables, identifies and challenges in court transactions entered into by the debtor in violation of the law, and applies to the court for the invalidation of reorganizations (merger, division, or spin-off) or state re-registration of a legal entity carried out within three years prior to the initiation of bankruptcy proceedings and resulting in the withdrawal of assets.

In addition, the bankruptcy administrator identifies persons who may be subject to subsidiary liability and files the relevant claim with the court. If there are indications of deliberate bankruptcy, the bankruptcy administrator is required to notify law enforcement authorities.

The sale of the bankrupt entity’s property is carried out in accordance with the property sale plan, and settlements with creditors are made in accordance with the established procedure. During the bankruptcy proceedings, the bankruptcy administrator maintains a register of creditors’ claims, informs creditors about the debtor’s financial condition, and submits reports on the progress of the bankruptcy proceedings to the authorized body.

Upon completion of the proceedings, the bankruptcy administrator submits a final report and liquidation balance sheet to the court, closes the bank accounts, and destroys the bankrupt entity’s seal.

The rights and duties of the bankruptcy administrator are determined by the Law of the Republic of Kazakhstan “On Rehabilitation and Bankruptcy” and other legislation of the Republic of Kazakhstan.

Source : https://www.gov.kz/memleket/entities/kgd-astana/press/news/details/1300370?lang=ru