"nouncement" - 1 õppematerjal

Investors Handbook. A Legal Guide to Business in Georgia

of bankruptcy. The bankruptcy manager is assigned with all rights granted by the Law on En- trepreneurs to the persons authorized to manage and represent respective company. Managerial and representation rights of the director of company in the process of bankruptcy are suspended. Article 43. Term of preparation of rehabilitation plan 1. The term of preparation of rehabilitation plan shall commence from the moment of an- nouncement of decision on rehabilitation taken by the court in accordance with the decision of the mediation council. A court decision on rehabilitation is published according to the rule pro- vided by this law. Article 44. Rehabilitation manager 1. Rehabilitation process is carried out by the rehabilitation manager. Article 47. Ratification of rehabilitation plan by the creditors 1. The rehabilitation plan reviewed and approved by the mediation council shall be ratified