Bankruptcy petition - what does it consist of?

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The petition for bankruptcy of your debtor is one of the fundamental rights of the creditor.

What must a bankruptcy petition contain?

First of all, a creditor who decides to file a petition in bankruptcy of the debtor is obliged to prove his claim (it must be a real claim and supported by a proof of its origin), and in the event that he is applying for a declaration of bankruptcy with the possibility of an arrangement, he is obliged to to attach a draft layout proposal. The requirement to make the claims plausible applies to each of the creditors (does not apply to joint and several creditors) who submit an application in one letter. In such a case, the court may consider the application in different ways, separately for each of the applicants. It is very important that the fact that the claim is not probable will result in the court dismissing the claim immediately, because, as justified by the Supreme Court (V CKN 111/2001) the court has no grounds to examine whether the applicant has a claim against a participant in the proceedings, as the provisions authorize the court only to determine whether the claimant has substantiated his claim.

Arrangement proposals that should be included in the bankruptcy petition

1. postponement of the performance of obligations;

2. spreading the payment of debts into installments;

3. reduction of the sum of debts;

4. converting receivables into shares or stocks;

5. amendment, replacement or revocation of the right securing a specific claim.

It is important that the arrangement proposals may indicate more ways.