Bancruptcy Proceedings and Postponement of Debt Payment Obligations

 The Bankruptcy Process begins with an application which is then examined in a trial that is open to the public in order to achieve the main requirements in Article 2 paragraph (1) of Law no. 37 of 2004, namely "Debtors who have two or more creditors and do not pay off at least one debt that has matured and can be collected, are declared bankrupt by a court decision, either at their own request or at the request of one or more of their creditors". After that, proceed with a bankruptcy decision with all legal efforts. If the debtor in question has been declared bankrupt in a commercial court decision at the first level, then the next process is through the process of managing and/or settling bankruptcy assets, in which restructuring will be found by the debtor to avoid insolvency, both debt restructuring and corporate restructuring.