The Verkhovna Rada on March 20 passed a law “On Amendments to the Code of Ukraine on Bankruptcy Procedures” (No. 4409), under which bankruptcy filings will now be considered in simplified proceedings without summoning the parties, the Ministry of Justice said.
“The bill also simplifies the work of bankruptcy trustees. It provides for the creation of an automated information system “Bankruptcy and insolvency,” uniting the necessary registries and databases and which will include an electronic office of the trustee in bankruptcy,” the Ministry of Justice said in a press release on Wednesday.
The department reminded that the bill number 4409 was adopted as a basis back in June 2021. In preparation for the bill for the second reading of 248 amendments were filed, of which 112 were proposed to take into account.
Deputy Minister of Justice Valeriy Kolomiets thanked the head of the profile subcommittee of the Rada Oleksiy Movchan “for persistence and for being in crime” in the difficult process of adopting the document and wished a little more patience, because the adoption of the bill on “military bankruptcies” and the implementation of EU Directive 2019/1023 until September this year.
