Wednesday, July 27, 2011

Bankruptcy Law decided to "freshen up»

The Law" On restoring solvency of the debtor or declaring it bankrupt, "needs to be improved, but changes must not be a cardinal in nature, experts say. "bill except the developers while nobody saw, respectively, do not yet understand. Version of the bill, developed by a working group of representatives from various organizations, has not yet been made public. Moreover, it is likely that the final edition, which was developed and an option that can be represented, they are two different versions. Therefore, in my opinion, you need to look for a specific text to say something "- said Anatoly Rodzinsky, CEO of the Counseling Center on bankruptcy. According to him, of course, there are many things that can be improved, we have in mind in regarding the current bankruptcy law. "To say that everything needs to be changed fundamentally, in my opinion, wrong. The current law is working, but there are some kinks, some nuances, which can be corrected. That it will be for the patches, you need to look at the specifics. Because the proposals to amend bankruptcy laws over the past three years was enough, but they did not pass. There have been suggestions that should be exempt from bankruptcy, etc. But bankruptcy - is a universally recognized standard in the world tool that allows you, as well as to restore the solvency of the enterprise, and protect the interests of creditors and the debtor ", - said A. Rodzinsky. According to the basic guidelines to update the law on bankruptcy, the emphasis is on providing priority to restore the solvency of enterprises compared to their bankruptcy and stimulation to restore the solvency of enterprises in pre-trial (non-judicial) procedures for sanitation (restructuring). "Renovation and is now provided by applicable law, and actually managed readjustment procedure lenders who either argue reorganization plan, or not. Accordingly, they propose the candidacy of managing rehabilitation. Therefore to say that at the moment lenders have no influence on the process of bankruptcy is impossible. Because filing for bankruptcy is the creditors of the owners of the enterprise goes right to control. All lies in the nuances. It all depends on what the nuances of what changes to the legislation proposed innovations. They can be very useful and timely, and harmful. Regardless of what has developed a working group to look at the final edition, which is introduced in Parliament. Because of this short path from the publication prior to the introduction in Parliament may be so modified, that can distort even the best original concept "- summed up A. Rodzinsky. Recall the Cabinet of Ministers of Ukraine approved the Concept of the Law of Ukraine" On Amendments to the Law Ukraine "On the recovery of the debtor's solvency or declaring him bankrupt." The corresponding order № 2138-r Government adopted at the meeting of 22 November 2010. According to the document, the Ministry of Economy and the Ministry of Finance, the State Committee for Regulatory Policy and Entrepreneurship, the State Property Fund requested to develop with regard to the provisions of the Concept and submitted before 16 December 2010 a draft Law of Ukraine "On Amendments to the Law of Ukraine" On the recovery of the debtor's solvency or declaring him bankrupt. "The purpose of the approved concept is to identify ways of improving bankruptcy procedures on the following principles: - provision of priority to restore the solvency of enterprises compared with their bankruptcy - to balance the interests of creditors, debtors and owners of their property - stimulation to restore the solvency of enterprises in pretrial (extrajudicial) readjustment procedure (restructuring).

No comments:

Post a Comment