Debtors satisfying bankruptcy conditions under the Enterprise
Bankruptcy Law may file with a competent court to gain protection
in the form of ceasing interest accrual, release of preservation,
suspension of execution, release from unfulfilled contracts, or
restoration of credit.
Lawful entry into bankruptcy proceedings grants debtors an edge
in negotiations, preserving asset integrity and operational
sustainability to pave the way for revival after reorganisation or
liquidation of debts.
Debtors should consider filing for bankruptcy to gain protection
in the following circumstances:
1 If not, assets will be partitioned and severely depreciated,
compromising the company's ability to revive operation;
