questions and answers

Under which circumstances will a petition for bankruptcy procedure initiation be returned?

The People’s Court will return the petition in the following cases:

    • The requester does not comply with Article 5 of the 2014 Law on Bankruptcy;
    • The requester fails to amend or supplement the petition in accordance with Article 34 of the 2014 Law on Bankruptcy;
    • Another People’s Court initiated the bankruptcy procedure for the insolvent enterprise;
    • The requester withdraws the petition in accordance with Article 37.2 of the 2014 Law on Bankruptcy;
    • The requester fails to pay the bankruptcy fee or advance bankruptcy expenses, except when he/she is not required to do so.

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