Results of study in bankruptcy field presented

Today, the main results of study in the field of bankruptcy and the roadmap developed based on those results (http://moj.am/storage/uploads/0AM02.pdf ) were presented with the participation of First Deputy Minister of Justice Artak Asatryan.

The study was conducted within the scope of the ''Support to the Bankruptcy System Improvement'' project financed by the Good Governance Fund of the Government of the United Kingdom of Great Britain and Northern Ireland.

Deputy Minister of Justice Tigran Khachikyan, Deputy Minister of Economy Avag Avanesyan, Deputy Ambassador of the United Kingdom Alison Chick, judges, representatives of the "Centre for Legislation Development and Legal Research" Foundation of the Ministry of Justice and others were also attending the discussion.

The aim of the study was to identify the problems that emerge in different phases of the bankruptcy process in Armenia, as well as the expectations and stances of policy makers and key role-players of the field from and on the potential options for solution to those problems.

Greeting the attendees, First Deputy Minister Artak Asatryan emphasised that the reforms in the field of bankruptcy are always on the agenda of priorities of the Government. He also noted that this is an ongoing process, and the sector-specific regulations need to be updated in parallel with the challenges of the time, which will also lead to improvement of the business climate. The Deputy Minister attached importance to the assistance of the United Kingdom in conducting the study, noting that the results of the latter will help show the priorities for reforms in the field of bankruptcy more completely.

Deputy Ambassador of the United Kingdom Alison Chick noted that the Government of the UK is engaged in this process with great willingness and believes that this will help make the investment and business sectors in Armenia more attractive.

Let us mention that the "Centre for Legislation Development and Legal Research" Foundation of the Ministry of Justice participated in the development of the roadmap and action plan.

Acting Director of the Foundation Tigran Dadunts presented the main directions of the roadmap and action plan, the objectives that underlie the roadmap and the steps required for implementation of short-term, medium-term and long-term reforms in the field. Tigran Dadunts also noted that the actions distinguished within the scope of the roadmap must be carried out through the joint efforts of the Ministry of Justice, as a body developing the sector-specific policy, and of other interested bodies and persons.

The results of the conducted study were presented during the meeting, which was followed by a question-and-answer session.