Insolvent debtor can repay the debt by giving instead of execution
Insolvent debtor can repay the debt by giving instead of execution
Insolvent debtor can repay the debt by giving instead of execution
Repayment of public debt of the insolvent debtor by transferring assets instead of payment or under enforcement is permissible way to play. This takes stock of SCC in mind that art. 646, para. 1 pt. 3 CA it is a voluntary action taken by the debtor in repayment of the required cash obligations. Therefore it is allowed as a means of repayment and giving instead of performance under Art. 65, para. 2 LOC.
Decision № 58 of 07/08/2015, under t. E. № 1388/2014 on the judges considered that Section. 646, para. 8 Commercial Code is inapplicable in repayment of public debts by means of enforcement. Such repayment, although conducted within the suspect, according to the taxation periods of art. CA 646 is not negligible with respect to the bankruptcy creditors. As far as the collection of public receivables state and municipalities are not privileged creditors / Art. 722, para. 1, p. 6 CA /, the provisions of Art. 646, para. 8 CA was created collateral to satisfy them in the public interest.
Attorney at law Iuila Danova
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Email: iulia.danova@abv.bg