News 2 - The Committee on Economic Policy recommends that the Parliament adopts the Bill on Amendments to the Law "On Restoration of Debtor's Solvency or Recognition of Debtor's Bankruptcy" (re Termination of Proceedings on the Case concerning Bankruptcy) as a Basis - Verkhovna Rada of Ukraine

The Committee on Economic Policy recommends that the Parliament adopts the Bill on Amendments to the Law "On Restoration of Debtor's Solvency or Recognition of Debtor's Bankruptcy" (re Termination of Proceedings on the Case concerning Bankruptcy) as a Basis

Published on 21 September 2009, at 09:37

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The Bill (Reg. No.3528) introduces amendments to Clauses 8 and 40 of the effective Law, pursuant to which, in case a municipal enterprise is a debtor, the appeal on the institution of proceedings in bankruptcy case shall be not accepted or the economic court shall terminate the proceedings in bankruptcy case.

The Committee members stated that adoption of the Bill will prevent ambiguous interpretation of the Law "On Restoration of Debtor´s Solvency or Recognition of Debtor´s Bankruptcy" by the courts.

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