Discussion of draft Law "On making amendments and supplements to the Law of the Republic of Armenia "On bankruptcy"" continues

Today, the second stage of discussions on the modified Law "On making amendments and supplements to the Law of the Republic of Armenia "On bankruptcy"" and related draft laws — organised by the "Centre for Legislation Development and Legal Research" Foundation of the Republic of Armenia — continued with the participation of First Deputy Minister of Justice Artur Hovhannisyan.

Judges of the Court of Cassation, Court of Appeal, courts of first instance of the Republic of Armenia, public administration bodies, representatives of the Central Bank, the Union of Banks, the Chamber of Advocates and other interested institutions were present at the discussion.

During the meeting, a number of provisions of the draft Law were considered, particularly the proceedings on claims of creditors, property of a debtor, financial recovery plan for a debtor, liquidation of a legal person and termination of the activities of debtor individual entrepreneur, closure of the bankruptcy case, specifics of bankruptcy of natural persons and simplified bankruptcy procedures.

Let us remind that the first meeting had taken place on 5-6 July of this year in Tsaghkadzor.