Bankruptcy Law

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:

  1. A partnership or legal entity established under the laws of the Kingdom of Cambodia.

B- Natural persons who have residence and own property in the Kingdom of Cambodia

  1. A partnership or legal entity established under foreign law with assets in the Kingdom of Cambodia.

D. Natural persons residing outside the Kingdom of Cambodia who own property in the Kingdom of Cambodia.