Who can file for corporate bankruptcy, and where should it be filed?

A corporate bankruptcy petition can be filed by a director, an unlimited-liability partner, or a liquidator of the debtor company, even if they are not the representative director or representative partner.

In other words, any person in charge within the company can file, and a creditor who is outside the company can also file where the company is insolvent or in a state of excess liabilities.

The filing procedure is simple.

You simply prepare the corporate bankruptcy petition documents and submit them to the filing division of the court having jurisdiction over the company.

The court with jurisdiction is determined by the location of the company's head office or principal office, and in the case of a court that has a bankruptcy division, the documents are submitted to the bankruptcy division's filing desk.

After filing, the court reviews the documents and, following a hearing, decides whether to commence the bankruptcy proceedings.

Ultimately, corporate bankruptcy can be filed by anyone where the company cannot repay all of its debts or its debts exceed its assets; a creditor can also file, and the filing is made through the filing division of the court with jurisdiction.

You may wish to confirm the specific details relating to corporate bankruptcy through a consultation with an attorney specializing in corporate bankruptcy.