Bankruptcy procedure for a legal entity in Almaty — we weigh up the options before the application, not after losing control

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A lawyer reviews the company's financial documents while preparing the bankruptcy procedure at the office in Almaty

First consultation with a review of the financial position — free of charge
We work out what is more advantageous: rehabilitation, bankruptcy or liquidation
We run the procedure from the application to completion
We separately protect the director and the company's participants

Bankruptcy and rehabilitation

We assess the signs of insolvency and the prospects of each option

We prepare the application and the full set of documents for the court

We work with the administrator, the register of claims and the creditors' meeting

We challenge unjustified claims and transactions included in the bankruptcy estate

We protect the director and participants from subsidiary liability

Company position review: whether there are signs of bankruptcy, what rehabilitation offers and what risks the director personally faces in each scenario.

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11^years

in insolvency cases

We handle insolvency proceedings for Almaty companies, acting for both the debtor and the creditor.
60⁺

proceedings supported

From the first analysis of financial statements to the ruling closing the case.
3^years

depth of transaction review

This is precisely the period for which the administrator most often looks for grounds to challenge transactions.
0^₸

initial assessment

We first weigh up the options and say whether bankruptcy is needed at all.

Analysis of financial position

We check for signs of insolvency, the structure of debt and assets, and calculate how each possible scenario will end.

Choice of procedure

Rehabilitation, bankruptcy or voluntary liquidation — decisions are made on the numbers, not on a general sense of hopelessness.

Preparation of the court application

We gather the documents, substantiate the signs of insolvency and file an application to have the company declared bankrupt.

Work with the administrator

We support the inventory, the handover of documents and the formation of the bankruptcy estate, and monitor the administrator's actions.

Register of creditors' claims

We file claims, review those of others and challenge any that are filed without grounds or with an inflated amount.

Challenging transactions

We protect the company's transactions from unjustified challenge and, conversely, challenge the withdrawal of assets when we act for a creditor.

Subsidiary liability

Defending the director and participants: we prove that decisions were made in good faith and that there is no fault in the onset of insolvency.

Rehabilitation procedure

A plan to restore solvency, negotiations with creditors and support in having the plan approved in court.

Debts piling up? Work out the bankruptcy procedure for a legal entity before filing the application

The first consultation is free and without obligation. Sometimes it is more advantageous to reach agreement with creditors or go into rehabilitation — if that is your situation, we will say so directly.

Message us on WhatsApp +7 778 325 44 44

For companies with unmanageable debts
For directors and participants
For creditors in someone else's procedure

Cost

Cost of support bankruptcy procedure for a legal entity

Guidelines for common tasks. The amount depends on the size of the debt, the number of creditors and the presence of assets; it is quoted after analysis and fixed in the contract before work begins.

Service	What is included	Cost
Consultation and review of the position	Assessment of the signs of insolvency and the available options	free of charge
Financial and legal analysis	A written review with calculations of scenarios and risks for the director	from 150,000 ₸
Preparation and filing of the application	Collecting documents, substantiating the signs, filing with the court	from 250,000 ₸
Full support of the procedure	Handling the case from the application to the ruling on completion	from 900,000 ₸
Support through rehabilitation	Recovery plan and its approval	from 700,000 ₸
Defence against subsidiary liability	Separate case on a claim against a director or participant	from 400,000 ₸
Inclusion in the register of claims	Acting for a creditor in another party's proceedings	from 150,000 ₸
Challenging a debtor's transaction	One separate proceeding within a case	from 200,000 ₸

Prices are indicative and do not constitute a public offer. State fees, publications, the administrator's remuneration and property valuation are paid separately and directly — we do not earn on them.

Find out the cost for my case

How it proceeds bankruptcy procedure of a legal entity

Analysis of the company's position

We review the financial statements, the composition of the debt, the assets and the creditors' claims. Signs of insolvency either exist or they do not — this is calculated, not felt.

Scenario modelling

We compare rehabilitation, bankruptcy, liquidation and negotiations with creditors: what the company gets and what the director personally gets in each scenario.

Review of transactions from previous periods

We identify in advance what the administrator will try to challenge — this allows us to prepare the justification rather than make excuses during the proceedings.

Fixed-fee agreement

We set out the scope of work and the amount in writing, before the application is filed. No additional invoices appear along the way.

Preparation and filing of the application

We gather the documents, substantiate the signs of insolvency and file the application with the court.

Work with the administrator and creditors

We hand over the documents, support the inventory, take part in meetings and work with the register of claims.

Separate disputes

Challenging claims and transactions, protecting the director from subsidiary liability — these disputes determine the real outcome of the case.

Completion of the procedure

We take the case through to the court ruling on completion and the removal of the company from the register, explaining the consequences for the participants.

Not sure whether it is bankruptcy or rehabilitation?

Send us your financial statements and a list of debts — we will calculate both scenarios and show you the difference in figures.

Describe your situation

Team

Team of lawyers in Almaty

We handle a case from start to finish with the same team: you always know who is dealing with your matter and who to contact.

Asel Kurmanova

Lawyer for civil cases

Handles disputes over real estate, inheritance, contracts and transactions. Supports transactions from document review through to registration of title.

14 years of practice
Civil and housing disputes
Kazakh and Russian languages

Dmitry Kim

Lawyer for financial and motor vehicle disputes

Works with banks, insurers and debt collectors, handles recovery and bankruptcy cases, and defends drivers in administrative matters.

11 years of practice
Banks, insurers, motor vehicle disputes
Pre-trial settlement

Gulnara Abisheva

Lawyer for family and social matters

Handles divorces, division of property, alimony and disputes over children, as well as employment, pension and social issues.

9 years of practice
Family and employment disputes
Work with guardianship authorities

Yerlan Sagintayev

Lawyer for corporate law

Supports company transactions, arranges shares and corporate agreements, handles disputes between participants and reorganisation.

13 years of practice
Transactions, shares, corporate disputes
Support for investment rounds

Aigerim Nurlanova

Tax lawyer

Challenges notifications and inspection reports, handles tax disputes in court, supports inspections and recovers overpayments.

10 years of practice
Inspections and tax disputes
Working with the client's accounting records

Viktor Li

Construction and contract lawyer

Reviews contract agreements, estimates and acts, handles disputes over quality and scope of works, supports acceptance of facilities.

12 years of practice
Contracting, shared participation, acceptance
Working with construction expertise

Madina Ospanova

Intellectual property and IT lawyer

Protects copyright and trademarks, drafts contracts for IT teams and handles rights to products and code.

8 years of practice
Copyright, trademarks
Contracts for IT and studios

Sanzhar Ibraev

Bankruptcy and debt recovery lawyer

Handles bankruptcy and rehabilitation procedures, recovers receivables, defends directors against subsidiary liability.

15 years of practice
Bankruptcy, rehabilitation, debt recovery
S

Practice

Recent case stories from our lawyers in Almaty

Details have been changed and anonymised: the content of the case is protected by professional privilege.

Rehabilitation

The company was heading into bankruptcy but was saved by a recovery plan

Situation: Production halted due to a cash gap: a major customer delayed payment of 80 million, and arrears to suppliers followed. Two creditors had already filed claims, accounts were being frozen, the director saw bankruptcy as the only way out and was preparing to file.
What we did: We calculated both scenarios in figures: what creditors would receive in bankruptcy with the sale of equipment, and what they would receive if the company continued operating under a schedule. The model showed the business was profitable and the problem was temporary. We prepared a plan to restore solvency and held negotiations with four main creditors, showing them the calculations.
Outcome: The plan was approved, and a rehabilitation procedure was introduced instead of bankruptcy. The company continued operating, paid off under the schedule over nineteen months, kept its equipment, and forty-two people kept their jobs.

Subsidiary liability

The company's debt of 61 million was almost recovered personally from the director

Situation: After the company was declared bankrupt, a claim was filed against the former director for subsidiary liability for the entire amount of the outstanding debt. The argument was standard: he failed to file on time and drove the organisation into insolvency.
What we did: We reconstructed the chronology from documents: meeting minutes, correspondence with the bank about restructuring, attempts to sell a non-core asset, requests to the founders for working capital. We showed that the director acted in the company's interests, and the cause was a major counterparty's failure to pay, not his decisions.
Outcome: The claim for subsidiary liability was rejected in full. The former director's personal property — an apartment and a car — remained untouched.

Creditor

A supplier's claim for 8.3 million almost stayed outside the register

Situation: The client found out about the buyer's bankruptcy by chance, from a colleague in the market. Only a few days remained before the deadline for filing claims, and the primary documents for two years lay in the archive in a fragmented state.
What we did: Within three days we assembled a complete set: the contract, specifications, delivery notes with receipt marks, reconciliation statements and correspondence acknowledging the debt. We filed the claim on the last day of the deadline, and then rebutted the objections of the administrator, who disputed the fact of delivery on two batches.
Outcome: The claim was included in the register in full. Part of the debt — around 3.1 million — was repaid from the bankruptcy estate; clients who learned about the procedure later received nothing.

Challenging transactions

The administrator challenged the company's transactions made before the application was filed

Situation: A manufacturing company entered a procedure, and the administrator filed claims to have six transactions from the preceding period invalidated: sales of equipment, assignments of claims and repayment of debt to one of the creditors. The director considered all the operations to be ordinary business activity.
What we did: We analysed each transaction separately instead of taking the general position that "everything is lawful". For four of them we prepared evidence of counter-performance and market price: contracts, payment orders, valuer's reports, business correspondence. For two we acknowledged the claims were justified and proposed returning the property voluntarily, without going to a dispute.
Outcome: Four transactions stood, two were returned to the bankruptcy estate without a court hearing. The costs of the dispute were reduced, and the voluntary return softened the position on subsidiary liability.

To the creditor

The supplier almost missed the deadline for including its claim in the register

Situation: The creditor company learned of the debtor's bankruptcy from business rumours: the notification had been sent to an old address. By the time it approached us, the deadline for filing claims had almost expired, and the delivery documents for two years lay in different departments and were partly unsigned by both parties.
What we did: Within four days we assembled the set: contracts, delivery notes with receipt marks, reconciliation statements, correspondence about the debt. For some deliveries there was no signature from the recipient, but it was replaced by drivers' powers of attorney and electronic correspondence. We prepared and filed the claim with the calculation before the deadline expired.
Outcome: The claim for 23 million tenge was included in the register in full. Following the calculations, the creditor received around 40% of the amount — without inclusion in the register it would have received nothing.

To the director

The director was held liable for the company's debts that had nothing to do with him

Situation: A former director was being held subsidiarily liable for the company's obligations of 64 million tenge. He had managed the organisation for eight months, having taken over from the previous director, and had left a year and a half before the bankruptcy, while the main debts arose before his appointment and after his departure.
What we did: We built a chronology: the dates of appointment and dismissal, the periods in which each obligation arose, the decisions taken during his tenure. We showed that the transactions named as the cause of insolvency were not made by him, and that the company paid the obligations of his period on time.
Outcome: Subsidiary liability was refused. The claims were redirected to the persons who actually controlled the company during the relevant period.

Rehabilitation

The company kept its production going thanks to a plan instead of bankruptcy

Situation: An enterprise with equipment and a staff of forty could not cope with its obligations after losing a major customer. The creditors were preparing a bankruptcy application, which would have meant selling the equipment and closing the production. At the same time, the company had new contracts, and money was short only for the gap in the payment schedule.
What we did: We prepared a rehabilitation plan with a cash flow calculation based on the new contracts and a three-year schedule of payments to creditors. We held negotiations with the largest creditors before the meeting, showing them a comparison: how much they would receive from a sale of the property and how much under the plan.
Outcome: The plan was agreed and approved, and no bankruptcy procedure was opened. Two years later the schedule is 78% fulfilled, the production is running and the staff has been retained.

Liquidation

They tried to close a company with debts through an ordinary liquidation

Situation: The founders decided to close the LLP with debts to the budget and two suppliers by filing documents for voluntary liquidation. The registering authority did not complete the procedure, creditors' claims remained outstanding, and by that time the property had already been distributed to the founders.
What we did: We explained that voluntary liquidation is impossible where the property is insufficient and that the obligation to file a bankruptcy application rests with the company itself. The distributed property was returned to the assets, an application and a full set of documents were prepared, and the liabilities were inventoried.
Outcome: The procedure was carried out correctly, and creditors' claims were satisfied in part out of the property. No claims arose against the founders following the procedure — precisely because the property had been returned before it began.

Useful information

Bankruptcy procedure of a legal entity in Almaty: stages and liability

Dmitry Kim Lawyer for financial and automotive disputes

Published: 7 July 2026 Updated: 16 September 2026

The situation is a familiar one: obligations to suppliers and the bank are overdue, enforcement documents are arriving on the accounts, and part of the property is already under arrest. The director or a participant of the company weighs whether to hold out longer or initiate bankruptcy, while the creditor, for their part, is thinking about how to get the money back. In both cases the cost of a mistake is high, because the procedure is strictly regulated and a wrong step cannot always be corrected later.

Most of the confusion arises around who manages the process, in what order the money is distributed, and what the director risks personally. Many see bankruptcy as a way simply to close the company and forget about the debts, although the logic of the procedure is different: first it is assessed whether solvency can be restored, and only then does liquidation come into question. Below we look at how this works in practice.

When the insolvency of a legal entity triggers the bankruptcy procedure

The bankruptcy procedure of a legal entity is triggered when the company has stopped paying its debts: wages are delayed by more than three months, taxes and other mandatory payments are not made, and creditors do not receive what is due to them under contracts. The Law of the Republic of Kazakhstan on Rehabilitation and Bankruptcy links the insolvency and bankruptcy of legal entities to the debtor's inability to satisfy creditors' claims in full. For a company there are two possible paths: rehabilitation, where the business is preserved and given time to pay off, or bankruptcy with liquidation and sale of the property.

Before talking about liquidation, it is checked whether the enterprise has a chance to restore its solvency. The insolvency of legal entities is confirmed by documents: accounting records and information on debts to the budget and creditors. The choice between rehabilitation and bankruptcy determines whether the company continues to operate or ceases to exist.

overdue wages and mandatory payments
debts to creditors under contracts
absence of property for settlements
documents confirming insolvency

Rehabilitation or liquidation: the fork in the bankruptcy procedure of a legal entity

When a company's debts exceed its assets, the law offers two paths: rehabilitation, in which the business is preserved and given time to pay off, and bankruptcy with subsequent liquidation, where operations cease and the property is sold off to settle with creditors. The choice depends on whether the enterprise has a viable model: stable demand, working contracts, a prospect of restoring solvency. If the business can be pulled through, rehabilitation allows the company and jobs to be saved; if there is no chance, liquidation becomes a way to close the debts in a civilised manner.

It is also important for the creditor to understand which scenario is likely: in rehabilitation they may receive more, but later, while in liquidation — faster, but out of the asset mass.

In practice the fork is determined by several criteria:

Whether operations have continued and whether there is income from which debts can be repaid
Whether the participants and the director are ready to work under the rehabilitation plan
Whether there is property sufficient to settle with creditors in liquidation
How large the gap is between the debts and the real assets

The administrator in the bankruptcy procedure of a legal entity: who runs the case

In a bankruptcy case of a legal entity, the administrator is not one person for all stages. The law introduces several roles, and they are often confused by name. Remember: the procedures involve a temporary administrator, and temporary, rehabilitation and bankruptcy managers — exactly that, and not an 'arbitration' or 'insolvency' manager, as in Russian practice.

While the court considers the application and decides which procedure to apply, the case is handled by the temporary administrator: he analyses the debtor's financial condition and prepares a conclusion. If the court chooses rehabilitation, the powers pass to the rehabilitation manager — he implements the plan to restore solvency. After the debtor is declared bankrupt, the authorised body appoints a temporary manager, and then, by decision of the creditors' meeting, a bankruptcy manager: he forms the asset mass, conducts auctions and settles with creditors.

temporary administrator — analysis of financial condition before the procedure is chosen
rehabilitation manager — implementation of the rehabilitation plan
bankruptcy manager (appointed by the authorised body) — liquidation, auctions and settlements with creditors

Stages of the bankruptcy procedure of a legal entity: from application to the register

The bankruptcy procedure of a legal entity follows a strict sequence: rights and obligations depend on the stage. The court reviews the application and appoints a temporary administrator — creditors file their claims, the administrator analyses the finances. The court then applies the rehabilitation procedure or declares the debtor bankrupt, and work with the register begins: claims are included and satisfied in order of priority.

For a director it matters that while the case is handled by the temporary administrator, he can influence management and propose restoration, whereas after being declared bankrupt the property is sold off and divided by priority. For a creditor it matters to file claims within the deadline, which is counted from the publication of the announcement on the opening of the case. Below is a guide to the stages.

acceptance of the application by the court and verification of its validity
appointment of the temporary administrator: collection of claims and analysis of the debtor
application of the rehabilitation procedure or declaration of bankruptcy
formation of the register of creditors' claims
settlements with creditors in the established order of priority

Key stages and their outcome
Stage	What happens	Who it matters for	Outcome of the stage
Work of the temporary administrator	identification of creditors and assessment of finances	debtor and creditors	conclusion on financial condition submitted to the court
Transition to liquidation	the court declares the debtor bankrupt	debtor	management passes to the administrator
Formation of the register	inclusion of creditors' claims	creditors	the register of claims is approved
Settlements	distribution of funds by order of priority	creditors	satisfaction of claims

The procedure and order of priority are determined by law, not by agreement between the parties.

Creditors in the bankruptcy procedure of a legal entity: register and order of priority

For a creditor, the bankruptcy of a legal entity with debts is a way to recover at least part of their money through an official procedure, rather than waiting endlessly and hoping for voluntary settlement. To be included in the register of creditors' claims, you must file your claim with the administrator after the legal entity has been declared bankrupt — with documents confirming the debt: a contract, acts, a court decision, a calculation of the debt. The claim is filed in writing, and a later filing usually means that part of the distributable property has already gone to others.

The register is not a list of 'who is owed how much' but a queue: creditors' claims are included in the register and satisfied in the order of priority established by law. Therefore the same amount of debt gives a creditor in the first priority and a creditor in the priority after settlements with the others a completely different result, down to zero. The order of priority is established by Article 100 of the Law of the Republic of Kazakhstan 'On Rehabilitation and Bankruptcy': first compensation for harm to life and health and alimony, then settlements for wages with social and pension contributions, then claims secured by a pledge of property, then taxes and other mandatory payments to the budget, and lastly the remaining creditors. The order of priority is established by Article 100 of the Law of the Republic of Kazakhstan 'On Rehabilitation and Bankruptcy': first compensation for harm to life and health and alimony, then settlements for wages with social and pension contributions, then claims secured by a pledge of property, then taxes and other mandatory payments to the budget, and lastly the remaining creditors. The order of priority is established by Article 100 of the Law of the Republic of Kazakhstan 'On Rehabilitation and Bankruptcy': first compensation for harm to life and health and alimony, then settlements for wages with social and pension contributions, then claims secured by a pledge of property, then taxes and other mandatory payments to the budget, and lastly the remaining creditors. The order of priority is established by Article 100 of the Law of the Republic of Kazakhstan 'On Rehabilitation and Bankruptcy': first compensation for harm to life and health and alimony, then settlements for wages with social and pension contributions, then claims secured by a pledge of property, then taxes and other mandatory payments to the budget, and lastly the remaining creditors. If you are a creditor and have learned that a legal entity has been declared bankrupt, act without delay:

Check whether you have missed the publication about the start of the procedure against the debtor.

Prepare documents confirming the basis and amount of the debt.

Send the claim to the administrator and keep confirmation of dispatch.

Monitor which priority your claim has been included in, and if you disagree, raise objections.

Grounds for challenging transactions in the bankruptcy procedure of a legal entity

In the bankruptcy of a legal entity, the administrator examines not only the current state of the accounts but also how the debtor disposed of property earlier. Contracts, payments and other transactions are reviewed for the three years before the case was initiated. The aim is to find transactions that moved assets out to the detriment of creditors and return them to the estate.

A sale of property at an undervalue, a gratuitous transfer, a set-off of counterclaims, a debt forgiveness or a payment to one creditor bypassing the others can all be challenged. If the court declares the transaction invalid, the party returns what it received, and the claims are restored in the register. For a creditor this is a chance to increase the estate; for a director it is a risk of personal liability. That is why documents on transactions for the past three years are collected in advance, and disputed transactions are analysed before filing the application — this is part of what services for the bankruptcy of legal entities include. Careful preparation of the position and a complete set of documents matter more here than any promise of a result.

Sale of property below market price
Gratuitous transfer or gifting of assets
Set-off, debt forgiveness, novation
Early payment to one creditor bypassing the others

Liability of the director in the bankruptcy procedure of a legal entity

The personal liability of a company's director and participants for its debts does not arise automatically upon the bankruptcy of a legal entity, but only if it is proven that the insolvency was caused by their actions or inaction. That is precisely why it is so important to put legal support for the bankruptcy procedure in place in advance: the administrator and creditors analyse the director's decisions going back years before the application is filed.

The courts look at several circumstances: whether assets were lost on the eve of collapse, whether transactions were concluded with interested parties, whether information was brought to the attention of participants and creditors, and whether operations continued in the face of obvious insolvency. If the link between the conduct of the controlling persons and the bankruptcy is confirmed, they are liable for the company's debts with their personal property — recovery is pursued through subsidiary liability. Competent support for the bankruptcy procedure reduces this risk, because a specialist builds the defence from day one.

Concealment or withdrawal of assets before filing an application
Transactions on non-market terms with affiliated persons
Failure to file an application in the face of obvious insolvency
Loss of accounting and constituent documents

Documents required to commence the bankruptcy procedure of a legal entity

The bankruptcy procedure of a legal entity begins with preparing a package of documents, and whether the court accepts the application at the first attempt depends on how complete it is. The balance sheet, cash flow statements, information on debts and a list of property are assembled. This is governed by the Law of the Republic of Kazakhstan on Rehabilitation and Bankruptcy. Errors in the requirements lead to the application being left without movement, and time works against the debtor — penalties and fines grow.

The creditor proves the existence and undisputed nature of the debt: the contract, delivery notes, reconciliation statements, a court decision, and documents from the court enforcement officer confirming that enforcement produced no result. Lawyers specialising in bankruptcy help to assemble a correct set: they check whether there is sufficient evidence of insolvency and whether there is a risk of a counterclaim. A consultation with a lawyer on the bankruptcy of legal entities at the outset is cheaper than correcting mistakes after the case has been initiated. Before filing an application, an audit of transactions over recent years is also important.

Constituent documents and a certificate of registration of the company.
Accounting statements and a breakdown of debts.
A list of property, accounts and existing contracts.
Documents on disputed transactions and court decisions.

What the debtor and the creditor prepare
Document	Debtor	Creditor
Bankruptcy application	Files	Files
Balance sheet	Prepares	Not required
Contract and reconciliation statement	If available	Attaches
Court decision on recovery	States	Attaches
Documents of enforcement proceedings	States	Attaches

The set depends on the role in the case and the stage at which the application is filed.

Assistance with bankruptcy of legal entities: where mistakes are most often made

The debtor most often makes a mistake when they drag things out to the last moment and continue paying off "their own" creditors. Such payments on the eve of the case are challenged by the administrator, which means the return of the money is called into question, and instead of protecting the company's interests it gains new risks. Another costly mistake is transferring property to a participant, director or relative. Courts treat this as asset stripping, and in the end you lose both the asset and trust.

Creditors, for their part, hope for enforced recovery and do not think about the fact that the debtor's transactions in the three years before the case was initiated are checked and may be challenged. Without timely inclusion of claims in the register with documents confirming the debt and its basis, the money cannot be recovered even if there is property. Seeking help in the bankruptcy procedure saves time: a lawyer sees these mistakes in advance and builds the line of defence.

Do not transfer assets before filing the application
Keep the primary documents on debts
Avoid selective payment of creditors
Prepare documents for the register straight away

Legal support of the bankruptcy procedure of a legal entity

Legal support of bankruptcy covers several interconnected tasks. At the start, the lawyer checks the signs of insolvency, prepares the application and the package of attachments, and determines whether it makes sense to go into rehabilitation or straight into liquidation. Then work proceeds with the administrator: the lawyer monitors the deadlines for publications, the completeness of information on property and debtors, and responds to requests and objections.

A separate area is the register of creditors and the challenging of transactions. The lawyer helps to file claims in the register or to object to unfounded ones, and also assesses transactions in the three years before the case was initiated: gratuitous transfer of assets, sale at an undervalued price, settlements with an individual creditor bypassing the others. With systematic work, legal support of bankruptcy of legal entities reduces the risk of personal liability of the manager and the loss of assets that can be returned to the estate.

Preparation of the application and attachments, verification of the grounds
Work with the administrator: requests, publications, inventory
Register of creditors: inclusion of claims and objections
Challenging of transactions: analysis of operations in the three years before the case was initiated and return of assets

Cost of services for bankruptcy of legal entities: what the payment consists of

The cost of support is not established by law: the Law of the Republic of Kazakhstan "On Rehabilitation and Bankruptcy" regulates only the administrative expenses of the procedure and the remuneration of the administrator. The final amount of payment depends on the specific circumstances of the case. The larger the company and the more creditors it has, the higher the labour costs of preparing and running the case.

The cost of the bankruptcy procedure of a legal entity is affected by the size of the register of creditors' claims, the number of transactions that need to be checked for challenging, the presence of court disputes and the overall duration of the work. The price of bankruptcy also depends on whether support in court and interaction with the court enforcement officer are required. The cost of services for bankruptcy of legal entities is formed individually, after analysing the documents.

The state of the accounting records is assessed separately: restored documents, inventory of property and the volume of work on receivables noticeably increase the labour costs. If part of the register has already been formed and disputes have been settled, the fee calculation will be simpler than with a tangled structure of assets and liabilities.

Financing the bankruptcy procedure of a legal entity and choosing a specialist

Financing of a legal entity's bankruptcy procedure in Kazakhstan comes from the estate: the costs of the administrator, publications, valuation, auctions and protection of the property are covered from the sale of the debtor's assets. If there is no property, the creditor who initiated the process bears the costs in advance, and if funds are insufficient the procedure may be terminated. In rare cases the costs are reimbursed by an interested party, but that is more of an exception.

When choosing a company that handles the bankruptcy of a legal entity, look at real experience: over 11 years of practice and more than 60 procedures you can see who merely drafts the application and who takes the case through to the register and distribution. A reliable lawyer for the bankruptcy of legal entities will explain the financing scheme before filing, check the risks of challenging transactions and show which costs are unavoidable. It is also useful to look at the publications of the authorised body on initiated cases: they show the timeframes and the procedure for filing claims.

Bankruptcy does not automatically write off debts and does not protect a director from personal liability if transactions before the collapse were disadvantageous to the company. The earlier the procedure is started and the more carefully the documents are gathered, the fewer grounds there are for claims against the management.

Reviews

Reviews on legal support of a legal entity's bankruptcy procedure

4.9

Google

4.9 · 128

Yandex

4.8 · 94

2GIS

4.9 · 156

Zoon

4.7 · 41

Ruslan T. 18 August 2026

We came intending to bankrupt the company, but Asel ran the numbers and steered us towards rehabilitation. The plan was approved, we're still operating and paying according to schedule. Nobody tried to talk me round, they just showed me the figures.