The basis for a debtor to apply to the court for recognition as bankrupt and liquidation with the commencement of bankruptcy proceedings is its persistent insolvency.

Insolvency is considered persistent if the debtor’s liabilities exceed the value of its assets as of the date of filing the application with the court and as of the beginning of the year in which the application is filed, as well as as of the beginning of the year preceding the year in which the application is filed, if the application is filed during the first quarter of the calendar year.

The basis for a creditor to apply to the court for recognition of a debtor as bankrupt and its liquidation with the commencement of bankruptcy proceedings is an outstanding monetary obligation of the debtor to the creditor based on a court judgment that has entered into legal force or an enforcement document for the recovery of money from the debtor, or acknowledgment of the debt by the debtor, unless otherwise provided for by this paragraph.

The basis for a creditor in respect of taxes and customs payments to apply to the court for recognition of a debtor as bankrupt and its liquidation with the commencement of bankruptcy proceedings is the debtor’s failure to repay the amount of tax arrears, as well as arrears in customs payments, special, anti-dumping and countervailing duties, and interest, after all compulsory collection measures have been taken in accordance with the procedure established by the tax and customs legislation of the Republic of Kazakhstan.

Source : https://www.gov.kz/memleket/entities/kgd-astana/press/news/details/1290942?lang=ru