The Verkhovna Rada of Ukraine adopted the Law "On Amendments to the Law "On Restoration of Debtor Solvency or Declaration of Bankruptcy" (re Management of Bankrupt Enterprise)

15 April 2010, 18:05

The Law amends Articles 17 and 32 of the effective Law which determine the procedure of restoration of activity of a debtor enterprise, provided the readjustment was completed. The readjustment can be fulfilled, in case an agreement of lawsuit was concluded, creditors´ demands were satisfied, or the funds retrieved from debtor´s property sale were sufficient enough to satisfy creditors´ demands.

A relevant Bill is registered under Reg. No2088.