A plan may be developed on the basis of the debtor giving up all or any of its assets in consideration of settling all or any of its debts. It is permissible to pay all or part of the debtor's debts in kind or in cash, convert the debts into ownership rights, sell the business or part thereof as an existing and ongoing activity and omit the remainder or schedule the remainder so that the debtor is absolved of all or part of the debt. The plan shall be approved by the general assembly of the debtor joint-stock company, based on a special resolution or the entity having the powers of a general assembly in other companies.
Interpretation and application must be checked against the official text and current version.