Belarus' regulatory framework refocused on out-of-court rehabilitation of insolvent enterprises - Ministry of Economy
<p> MINSK, Aug 18 - PrimePress. Belarus’ legal framework will be reoriented to the priority of out-of-court rehabilitation of insolvent enterprises. The main purpose of the draft law “On Resolution of Insolvency” is to prevent enterprises from becoming bankrupt in principle. </p> <p> </p> <p> Belarus’ Minister of Economy Alexander Chervyakov made a statement to this effect at a press-conference on Aug 17. </p> <p> </p> <p> “The draft law is rather complicated. It concerns the interests of specific groups and enterprises. Insolvency issues are quite relevant and very sensitive. The main task is to prevent the situation when an enterprise sinks into bankruptcy proceedings. The emphasis should be on pre-trial rehabilitation, on taking measures so that specific plants, factories, businesses in general do not go into bankruptcy proceedings. Measures must be taken at the level of state and local governments to prevent such situations. Therefore, the law should be finalised as soon as possible,” Chervyakov said. End </p> <p> </p>
2021-08-19
Primepress
Belarus' regulatory framework refocused on out-of-court rehabilitation of insolvent enterprises - Ministry of Economy
MINSK, Aug 18 - PrimePress. Belarus’ legal framework will be reoriented to the priority of out-of-court rehabilitation of insolvent enterprises. The main purpose of the draft law “On Resolution of Insolvency” is to prevent enterprises from becoming bankrupt in principle.
Belarus’ Minister of Economy Alexander Chervyakov made a statement to this effect at a press-conference on Aug 17.
“The draft law is rather complicated. It concerns the interests of specific groups and enterprises. Insolvency issues are quite relevant and very sensitive. The main task is to prevent the situation when an enterprise sinks into bankruptcy proceedings. The emphasis should be on pre-trial rehabilitation, on taking measures so that specific plants, factories, businesses in general do not go into bankruptcy proceedings. Measures must be taken at the level of state and local governments to prevent such situations. Therefore, the law should be finalised as soon as possible,” Chervyakov said. End