Bankruptcy may be established voluntarily upon the debtor's application to the court.

Bankruptcy may be established compulsorily upon an application filed with the court by creditors or other persons authorized under this Law.

In the cases provided for by the Law of the Republic of Kazakhstan "On Rehabilitation and Bankruptcy", the debtor is obliged to apply to the court for a declaration of bankruptcy.

If the value of the property of a legal entity in respect of which a decision on liquidation has been adopted in accordance with paragraph 1 of Article 49 of the Civil Code of the Republic of Kazakhstan is insufficient to satisfy the creditors' claims, the liquidation commission shall apply to the court to have such legal entity declared bankrupt for the purpose of conducting bankruptcy proceedings in accordance with the rules established by the Law of the Republic of Kazakhstan "On Rehabilitation and Bankruptcy."

The ground for declaring a debtor bankrupt by a court is the debtor's insolvency.

The debtor's insolvency shall be determined by the court taking into account the financial sustainability opinion prepared in accordance with Article 49 of the Law of the Republic of Kazakhstan "On Rehabilitation and Bankruptcy."

Source : https://www.gov.kz/memleket/entities/kgd-astana/press/news/details/1258516?lang=ru