Committee includes 7 persons

The Ministry of Justice has created the Disciplinary Committee that will monitor the activities of arbitration managers, administrators of estate, asset managers and liquidators. The corresponding order was signed by the Minister of Justice Oleksandr Lavrynovych, reports the agency's press-service.

The Disciplinary Committee has seven members, three of whom are employees of the Ministry of Justice, the other four have been chosen by self-regulatory organizations of arbitration managers from among their members.

In accordance with the assigned tasks, the Committee will deal with applications or complaints from individuals and entities on the activities of arbitration managers, organization their activities, compliance with the requirements of the bankruptcy laws and rules of the arbitration manager’s professional ethics. Also it will consider submissions by the specialized department within the Ministry of Justice on the application of disciplinary sanctions to the liquidator, organize inspections of disclosed facts humiliating the honor and dignity of the arbitration managers, etc.

The Committee will make decisions by simple majority of votes of members present at the meeting.

Arbitration manager under consideration, or any other person who has learned about the participation in the Committee proceedings of the member whose objectivity may be doubted, may demand their disqualification. The decision on disqualification or resignation of the Committee member will be taken by simple majority of the members present at the meeting.

Disciplinary sanctions to be imposed on arbitration managers include a warning or disqualification to operate.