Article 52. Bankruptcy of the Civil Code of the Republic of Kazakhstan

     Bankruptcy is the debtor's insolvency recognized by a court decision, which is the basis for its liquidation.

     IZPI's note!

     The second part is amended by the Law of the Republic of Kazakhstan dated 08/02/2015 No. 342-V (effective from 01/01/2024).

     The debtor's insolvency is established by the court, taking into account the conclusion on financial stability drawn up in accordance with the legislation of the Republic of Kazakhstan on rehabilitation and bankruptcy.

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