Insolvency System Reform in Ukraine

New version of the Law “On Restoring Debtor’s Solvency or Recognizing it Bankrupt” (#4212-VI adopted on December 22, 2011) is to take effect in January 2013. Hence it is important for legal professionals (commercial courts judges, insolvency administrators, lawyers, businesses) to get prepared for the new Law implementation.

The Commercial Law Center was actively involved into drafting of the new version of the bankruptcy law within the first phase of the “Commercial Law Program for Ukraine” (2008-2011). During Commercial Law Program for Ukraine - phase II (2011-2015рр.) CLC continues to support legislative initiatives aimed to improve insolvency procedures.

LEGISLATION

Current Law:

On Restoring Debtor’s Solvency or Recognizing it Bankrupt” (№2343-XII dated 14.05.1992 with amendments) – UKR

On Restoring Debtor’s Solvency or Recognizing it Bankrupt” (№2343-XII dated 14.05.1992, with amendments until December 2008) - ENG

New version (comes into force on 18.01.2013)

On Incorporating Amendments into the Law \"On Restoring Debtor’s Solvency or Recognizing it Bankrupt” (№4212-VI dated 22.12.2011р.) – UKR

On Incorporating Amendments into the Law \"On Restoring Debtor’s Solvency or Recognizing it Bankrupt” (draft version before revisions by the MPs) - ENG

DRAFT LAWS

On Incorporating Amendments into Some Laws of Ukraine Regarding Bancruptcy (№10707 dated 05.07.2012, Cabinet of Ministers of Ukraine) - UKR

CLC recommendations re draft law №10707 - UKR

Draft Law “On Incorporating Amendments into Some Laws of Ukraine (re fulfillment of business obligations) (№11029 dated 25.07.2012, Cabinet of Ministers of Ukraine) - UKR

CLC Legal Opinion re draft law №11029 - UKR

RESEARCH by CLC

State Policy and Legislation in the Sphere of Insolvency Regulation: Practice Analyses, Recommendations on Improvement - ENG

Approaches to Selecting an Optimal Model: Bankruptcy Commissioners’ Remuneration and Cost Recovery, Appraisal of the Debtor’s Property - UKR