Bankruptcy petition - the most important information and the debtor's application template

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In the event of the company's insolvency, certain entities in the debtor company are required to file for bankruptcy of the company. When do I become insolvent, when do I file for bankruptcy and what else do I need to know about it? You will find out in the article below! You can also use the debtor's bankruptcy application template.

Who can file for bankruptcy of the company?

Bankruptcy may be filed by the debtor or any of his personal creditors. They can also report it:

  • in relation to a general partnership, a partnership, a limited partnership and a limited joint-stock partnership - each of the partners is liable, without limitation, for the obligations of the partnership;

  • in relation to legal persons and organizational units without legal personality, which are granted legal capacity by a separate act - anyone who, on the basis of the act, company agreement or statute, has the right to conduct the debtor's affairs and to represent him, alone or jointly with other persons;

  • in relation to a state-owned enterprise - also a founding body;

  • in relation to a sole proprietorship of the State Treasury - also a government representative, state legal person, body or other entity entitled to exercise rights from shares belonging to the State Treasury;

  • in relation to a legal person, general partnership, partnership, limited partnership and limited joint-stock partnership in liquidation - each of the liquidators;

  • in relation to a legal person entered in the National Court Register - probation officer established on the basis of art. 42 § 1 of the Act of 23 April 1964 - Civil Code;

  • in relation to a debtor who has been granted state aid with a value exceeding EUR 100,000 - the authority granting the aid;

  • in relation to the debtor against whom enforcement is carried out by the compulsory administration or by the sale of the enterprise, pursuant to the Code of Civil Procedure - the administrator appointed in this proceeding.

The date and circumstances giving rise to the obligation to submit the application

The debtor is obliged, not later than within 30 days from the date on which the grounds for declaration of bankruptcy occurred, to file a bankruptcy petition with the court.

Bankruptcy is declared against a debtor that has become insolvent. A debtor is insolvent if he has lost the ability to meet his pecuniary obligations. It is presumed that he has lost such capacity if the delay in performance of pecuniary obligations exceeds three months.

A debtor is also insolvent when his pecuniary obligations exceed the value of his assets, and this condition persists for a period exceeding 24 months. Monetary liabilities do not include future liabilities, including liabilities subject to a condition precedent, and liabilities to a partner or shareholder for a loan or other legal transaction with similar effects.

It is presumed that the debtor's pecuniary liabilities exceed the value of his property if, according to the balance sheet, his liabilities, excluding provisions for liabilities and liabilities towards related entities, exceed the value of his assets, and this condition persists for a period exceeding 24 months.

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Obligation to make an advance payment for expenses in the course of the proceedings

The applicant is obliged to pay an advance for expenses in the course of the bankruptcy proceedings in the amount of one average monthly salary in the enterprise sector, without the payment of bonuses from profit in the third quarter of the previous year, announced by the President of the Central Statistical Office, and presents proof of payment together with the application. If the advance payment is not made, the chairman calls for it to be done within a week under pain of returning the application.

Declaration of the truthfulness of the data

Along with the bankruptcy petition, the debtor is obliged to submit a written declaration as to the accuracy of the data contained in the petition. If it is not true, the debtor is liable for damage caused as a result of providing untrue data in the bankruptcy petition, and in the event of failure to submit the declaration, the application is returned without summoning the debtor to supplement it.

Download the free debtor's bankruptcy application template

To download:

pdf
Debtor's bankruptcy application - template.pdf Description: application to be filled in manually docx
Debtor's bankruptcy application - template.docx Description: editing, saving, printing