Subject to the provisions regulating the application for initiation of the proceedings in the Preliminary Part of this Law, as well as cases of preventive settlement and cases of in which the Bankruptcy Court may issue a decision to initiate bankruptcy proceedings, the court shall issue its decision to initiate bankruptcy proceedings if the following conditions are met: 1. The debtor has become unable to repay its debts. 2. There is a deficit in the debtor's financial position. 3. The debtor's business is not viable.
Interpretation and application must be checked against the official text and current version.