Article 20. The debtor's application for the application of the procedure of restoration of solvency or judicial bankruptcy The Law on the Restoration of Solvency and Bankruptcy of Citizens of the Republic of Kazakhstan

Home / RLA / Article 20. The debtor's application for the application of the procedure of restoration of solvency or judicial bankruptcy The Law on the Restoration of Solvency and Bankruptcy of Citizens of the Republic of Kazakhstan

1. The debtor applies to the court for the application of the procedure for restoring solvency or judicial bankruptcy if there are grounds provided for in Article 6 of this Law, accompanied by copies of documents confirming the basis and amount of the debt.

2. An application for the application of the procedure for restoring solvency or judicial bankruptcy shall be submitted by the debtor to the court at his place of residence in writing or in the form of an electronic document.

The debtor's statement must contain:

1) the name of the court to which the application is submitted;

2) justification of the inability to satisfy creditors' claims;

3) a list of attached documents.

The debtor's application may also contain other information if it is necessary for the consideration of the case on the application of the procedure for restoring solvency or judicial bankruptcy, as well as the petitions available to the applicant.

3. The application of the debtor for the application of the procedure of restoration of solvency or judicial bankruptcy shall be accompanied by:

IZPI's note! Subparagraph 1) is amended by the Law of the Republic of Kazakhstan dated 30.06.2025 No. 205-VIII (effective sixty calendar days after the date of its first official publication).

1) a list of all creditors and debtors (indicating the amounts owed and the date of their formation, the address of their place of residence or location, e-mail addresses and contact phone numbers (if such information is available) for their subsequent notification);

2) an inventory of the debtor's property, accompanied by a report on its valuation (if any), drawn up no later than six months before applying for bankruptcy;

3) a list of civil and (or) other obligations, including obligations whose claims are secured by a pledge of the debtor's property, for the last three years prior to filing an application for the application of the procedure for restoring solvency or judicial bankruptcy;

4) a copy of the document confirming that the debtor has taken measures to settle the debt under the bank loan agreement and (or) the microcredit agreement.

The documents confirming the procedure specified in this subparagraph are the responses of a second–tier bank, a branch of a non-resident bank of the Republic of Kazakhstan, an organization engaged in certain types of banking operations, and (or) an organization engaged in microfinance activities on the refusal to amend the terms of a bank loan agreement and (or) a micro-loan agreement, indicating motivated justification of the reasons.

If a second–tier bank, a branch of a non-resident bank of the Republic of Kazakhstan, an organization engaged in certain types of banking operations, and (or) an organization engaged in microfinance activities fails to respond to the debtor's application, the document confirming the procedure provided for in this subparagraph is a copy of the debtor's application or confirmation of sending the application in electronic format.

IZPI's note! The fourth part of subparagraph 4) is provided for in the wording of the Law of the Republic of Kazakhstan dated 30.06.2025 No. 205-VIII (effective sixty calendar days after the date of its first official publication).

The submission of the document provided for in this subparagraph is not required in cases where:

the bank loan agreement and (or) the micro-loan agreement were concluded before January 1, 2025;

Twelve months have elapsed since the occurrence of the overdue debt.

In case of exceeding twelve months from the date of occurrence of overdue debt, the submission of the document provided for in this subparagraph is not required.

4. The debtor's application for the application of the procedure for restoring solvency or judicial bankruptcy, which does not comply with the requirements established by this article, shall be returned by the court without its consideration.

This Law regulates public relations arising in the event of the insolvency of a citizen of the Republic of Kazakhstan, establishes the grounds for the application of the procedure for restoring solvency, as well as the procedures for out-of-court and judicial bankruptcy, the procedure and conditions for their conduct.

President

Republic of Kazakhstan

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