Rehabilitation: Balance Between the Interests of Creditors and the Debtor
The article deals with the problems associated with the procedure of financial recovery of the enterprises in Republic of Kazakhstan. In the article, in a rather severe form, basing on the reliability of the facts the reasons why business entities do not consider the current procedures of rehabilitation as an effective mechanism to restore the solvency of enterprises-debtors. Quite rightly, the author expresses doubts about the efficiency of the existing rehabilitation procedures, its effectiveness in overcoming by businesses the temporary financial difficulties. At the same time he recommends rather elaborate way of building a new system for the businesses' to improve based on all prevailing international approaches. Building such a system should be aimed at transparency, effectiveness of the procedures of financial improvement of the enterprises and ensuring the confidence of the business entities in solving temporary financial problems.