questions and answers

The necessary content in a petition for bankruptcy procedure initiation will be different depending on the person who files the petition:

(i) The petition for bankruptcy procedure initiation filed by a creditor must contain the following terms:

• • Date of filing;
  • Name of the People’s Court with jurisdiction to settle the bankruptcy;
  • Name and address of the requester;
  • Name and address of the enterprise for which the bankruptcy procedure is requested to be initiated;
  • Debts due and evidence of overdue debts.

(ii) The petition for bankruptcy procedure initiation filed by an employee or internal trade union must contain the following terms:

• • Date of filing;
  • Name of the People’s Court with jurisdiction to settle the bankruptcy;
  • Name and address of the requester;
  • Name and address of the enterprise for which the bankruptcy procedure is requested to be initiated;
  • The total salary and other due debts that have not yet been paid by the enterprise to the employees; evidence of overdue salary and other due debts.

(iii) The petition for bankruptcy procedure initiation filed by a shareholder or group of shareholders must contain the following terms:

• • Date of filing;
  • Name of the People’s Court with jurisdiction to settle the bankruptcy;
  • Name and address of the requester;
  • Name and address of the enterprise;
  • Evidence to support a request for bankruptcy procedure initiation.