Bankruptcy settlements
13 November 2015 saw the adoption of the Republic of Kazakhstan Law to
Amend Certain Legislative Acts of the Republic of Kazakhstan on
Rehabilitation and Bankruptcy (hereinafter referred to as the Law).
Specifically, the Rehabilitation and Bankruptcy Law received a new
chapter, 6-1, Settlement, which enables the debtor and creditors to make
a settlement agreement at any stage of bankruptcy proceedings in order
to discontinue bankruptcy proceedings. The effective date of the
amendments is 2 December 2015.