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The Bankruptcy Law was promulgated by Royal Kram No. NS/RKM/ 1207/031 dated December 27, 2007. This law aims to determine the rules, conditions, procedures and proceedings for bankruptcy proceedings in the Kingdom of Cambodia.
Key vocabulary
Bankruptcy refers to the situation in which a businessman or legal entity is unable to repay a debt and is declared by a court.
Bankruptcy case
The interested parties may file a bankruptcy case under this law against the following business and legal entities:
B- Natural persons who have residence and own property in the Kingdom of Cambodia
D. Natural persons residing outside the Kingdom of Cambodia who own property in the Kingdom of Cambodia.
Advance Grand Formula Co., Ltd is licensed audit firm from Accounting and Auditing Regulator (ACAR Decision N0. 014), member audit firm of Kampuchea Institute of Certified Public Accountants and Auditors (license number C-00085) and tax agent from General Department of Taxation (license number TA202204002).
This Publication is intended for general guidance only and should not form the basic of specific decisions.
Should you need any further information or support, please contact us at: accounting@advancegroupkh.com (accounting), audit@advancegroupkh.com (audit), tax@advancegroupkh.com (tax) and number and telegram 085 36 8888 and 070 399 888.
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