A Comparative Legal Analysis of Global Consumer Bankruptcy Models and thePractice of the Republic of Kazakhstan

Abstract

This article examines the formation of the consumer bankruptcy institution in the Republic of
Kazakhstan and its law enforcement practice from a comparative legal perspective. The study draws on open
statistical data for 2023–2025, judicial acts related to consumer bankruptcy, and foreign legal models. The
author argues that the bankruptcy institution in Kazakhstan is in high demand, yet the procedures of judicial bankruptcy and solvency restoration do not function with equal effectiveness in practice. The analysis of court cases demonstrates that the key criterion for declaring an individual bankrupt is not merely the amount of debt, but the proof of the debtor’s actual and persistent insolvency. At the same time, it was found that the opinion of the financial manager has become one of the decisive pieces of evidence in such cases. Based on the comparison with international practice, several important directions for Kazakhstan were identified. These include strengthening restructuring procedures, standardizing the work of financial managers, applying formal legal requirements in connection with the debtor’s real financial condition, and improving procedures in a gradual manner. The findings show that a mixed model is needed in order to make the consumer bankruptcy institution socially fair, legally stable, and practically effective.