
Legal Q&A
Q
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Hello, I am planning to go through corporate bankruptcy, and I have something to ask before doing so. I would like to know about the documents that must be submitted when filing. Could you let me know? When I looked at Naver blogs and the like, the accounts all differed, so I wanted to ask an attorney directly. Thank you.
corporate bankruptcy
Answer
Published:
Author : ChanWoo JEONG
When filing for corporate bankruptcy, you must first prepare a bankruptcy petition.
In the corporate bankruptcy petition, you must state in detail the applicant's trade name, the location of the principal office or place of business, and the representative's name, along with the purpose and cause of the petition, the debtor's business objectives and operating conditions, the total number of issued shares or equity interests, and the financial status, including the amount of capital and the assets and liabilities.
Where a creditor is the applicant, they must also state the amount of their claim and its cause.
The following documents must be submitted as attachments together with the corporate bankruptcy petition.
· A list of creditors, a certified copy of all corporate registration matters, minutes of the board meeting relating to the bankruptcy petition, and the articles of incorporation
· A register of shareholders, a company organization chart, the rules of employment, the severance pay regulations, and the collective agreement
· A list of employees, documents relating to the labor union, and the settlement reports for the past three years together with comparative balance sheets and income statements
· The most recent balance sheet and income statement, and the liquidation balance sheet and liquidation asset list
· A list of real estate and movable property, the accounts receivable and corporate bond ledger, and a schedule of collateral and secured claims
· Materials relating to ongoing provisional attachments, provisional injunctions, auctions, and lawsuits, as well as certified copies of all corporate registration matters and settlement reports of subsidiaries and affiliated companies
Where a creditor is the applicant, they must additionally submit materials that can prove the existence of the claim, such as contracts, promissory notes, checks, and accounts receivable ledgers, as well as materials that can prove the debtor's suspension of payments, such as dishonored notes and checks and a certificate of a bank transaction suspension disposition.
You may wish to confirm the details through a consultation with an attorney specializing in corporate bankruptcy.

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ChanWoo JEONG
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