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What must be included in a petition for bankruptcy procedure initiation?

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.

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