Comment to article 52. Bankruptcy The Civil Code of the Republic of Kazakhstan
This article sets out the main provisions. The detailed regulation of the relations arising in the bankruptcy process is carried out by the Bankruptcy Law. Moreover, the Bankruptcy Law applies to bankruptcy cases of legal entities, except for state-owned enterprises and institutions.
Special legislation may establish the specifics of the application of bankruptcy procedures in relation to agricultural enterprises, regardless of their organizational and legal form.
Legislative acts may establish the specifics of the application of bankruptcy procedures in relation to banks, insurance companies, pension funds and some other legal entities.
The basis for applying to the court for bankruptcy of the debtor for the creditor is the debtor's insolvency.
The debtor is considered insolvent if he has not fulfilled the obligation within three months from the date of the deadline for its fulfillment.
The debtor's insolvency is the basis for applying to the court for bankruptcy.
A sufficient reason for the official declaration of the debtor's bankruptcy or the application of an out-of-court rehabilitation procedure is the debtor's insolvency.
Bankruptcy cases are considered by the court according to the general rules of civil procedure with the specifics established by the Bankruptcy Law.
Constitution Law Code Standard Decree Order Decision Resolution Lawyer Almaty Lawyer Legal service Legal advice Civil Criminal Administrative cases Disputes Defense Arbitration Law Company Kazakhstan Law Firm Court Cases
The commentary was prepared within the framework of the scientific and practical research program of the Scientific Research Center of Private Law of the Kazakh State Law University.
Head of the working group on the preparation of the draft Civil Code of the Republic of Kazakhstan, Corresponding Member of the Academy of Sciences of the Republic of Kazakhstan, Professor Suleimenov M.K.
Deputy head Professor Basin Yu.G.
