Costs of bankruptcy proceedings and liabilities of bankruptcy estate
Costs of bankruptcy proceedings
Pursuant to Article 103 of Bankruptcy Law, the costs of the bankruptcy proceedings include:
1. Judicial costs of the proceeding;
2. Award payment and reimbursement of expenses of the bankruptcy administrator and/or the interim bankruptcy administrator;
3. Other expenses that the law provides be paid as costs of bankruptcy proceeding.
Liabilities of bankruptcy estate
Pursuant to Article 104 of Bankruptcy Law, the liabilities of the bankruptcy estate include the liabilities:
1. Caused by actions of the bankruptcy administrator or otherwise, by managing, realising and distributing the bankruptcy estate, which cannot be categorised as expenses of the bankruptcy proceedings;
2. Arising from mutually binding contracts if the fulfilment of such contracts is required of the bankruptcy estate or must ensue after the opening of bankruptcy;
3. Arising from unjust enrichment of the bankruptcy estate;
4. Towards the debtor’s employees, arising after the opening of bankruptcy.
Liabilities of bankruptcy estate also include any liabilities incurring during the preliminary bankruptcy proceedings if the main proceeding is initiated.