1, the debt repayment period has expired;
2. Creditors demand payment;
3. The debtor obviously lacks solvency.
The procedure to be followed is:
According to the provisions of the company law
Article 21 When declaring creditor's rights, creditors shall submit proof of creditor's rights and legal and valid identity certificates; The agent applicant shall submit the client's valid identity certificate, power of attorney and proof of creditor's rights. If the declared creditor's rights are secured by property, evidence proving the property guarantee shall be submitted. ?
Article 22 When registering to declare creditor's rights, the people's court shall record the creditor's name, domicile, bank, amount of creditor's rights declared, evidence of creditor's rights declared, property guarantee, time of filing, contact information and other necessary information.
If a liquidation group has been established, the liquidation group shall register the above creditor's rights.
Article 23 If one or more of the joint debtors goes bankrupt, the creditor may exercise his rights against the debtor and declare his creditor's rights. If the creditor fails to declare his creditor's rights, other joint debtors may declare his creditor's rights on the debts that may be assumed in the future. ?
Article 24 Where a creditor fails to declare his creditor's rights within the statutory time limit, but there are circumstances stipulated in Article 76 of the Civil Procedure Law, he may declare his creditor's rights to the liquidation group before the distribution of bankruptcy property. The liquidation group shall be responsible for examining the creditor's rights declared by it, which shall be examined and determined by the people's court. If the creditors' meeting disagrees with the people's court's consent for creditors to participate in the distribution of bankruptcy property, it may apply to the people's court for reconsideration. ?