Lukashenko wants protection against shocks for companies going through insolvency settlement
<p> MINSK, Aug 17 – PrimePress. While dealing with insolvency in the corporate sector, emphasis should be made on protecting companies from shocks. President of Belarus Alexander Lukashenko made a statement to this effect at the meeting with the administration of the government on August 17, the president’s press service informed. </p> <p> </p> <p> The bill ‘On the settlement of insolvency’ was discussed at the level of the head of state about a year ago. Back then the government was told to change the approaches to this document: to move away from bankruptcy towards rehabilitation of struggling enterprises. The concept of the bill has also changed – now the focus is on shielding companies from external shocks. “At the same time, I want to say that dealing with these shocks is primarily the concern of labour collectives and company chiefs,” Lukashenko said. </p> <p> </p> <p> “In addition, we are set to move away from using courts at all stages of handling economic insolvency cases,” said Lukashenko. “The coordinating role in the financial recovery will finally fall to the government, respective government agencies and executive committees,” he said. End </p>
2021-08-18
Primepress
Lukashenko wants protection against shocks for companies going through insolvency settlement
MINSK, Aug 17 – PrimePress. While dealing with insolvency in the corporate sector, emphasis should be made on protecting companies from shocks. President of Belarus Alexander Lukashenko made a statement to this effect at the meeting with the administration of the government on August 17, the president’s press service informed.
The bill ‘On the settlement of insolvency’ was discussed at the level of the head of state about a year ago. Back then the government was told to change the approaches to this document: to move away from bankruptcy towards rehabilitation of struggling enterprises. The concept of the bill has also changed – now the focus is on shielding companies from external shocks. “At the same time, I want to say that dealing with these shocks is primarily the concern of labour collectives and company chiefs,” Lukashenko said.
“In addition, we are set to move away from using courts at all stages of handling economic insolvency cases,” said Lukashenko. “The coordinating role in the financial recovery will finally fall to the government, respective government agencies and executive committees,” he said. End