New system for election of candidates for bankruptcy administrators

As a result of reforms in the bankruptcy sector, based on the statements of claim submitted by the Bankruptcy Court, starting from 15 April 2020, the drawing of lots for candidates for bankruptcy administrators are held by the Ministry of Justice through a special computer software; moreover, compared with the past, now election is held under the territorial principle, according to a special algorithm and from the list of bankruptcy administrators who serve in the area that is relevant to the given case.

As a result, based on the statements of claim received from the Bankruptcy Court, the drawing of lots is held in a quite short period, mainly just on the day of receipt of the statement of claim, and the results of the drawing of lots are submitted to the Bankruptcy Court and posted on the website of the Ministry within a short period, concurrently sending an electronic notice to the bankruptcy administrator.

This essentially reduces the time limit for submitting the nomination of a bankruptcy administrator to the Bankruptcy Court. In addition, as a result of the reforms that have been made, the document circulation will also be essentially reduced; in particular, the statements of claim for nominating a candidate for bankruptcy administrator from the Bankruptcy Court may also be submitted through the electronic system for document circulation. It will also be possible to submit the record of the drawing of lots for election of an administrator to the Bankruptcy Court electronically, thereby ensuring a fast and accessible connection between the Bankruptcy Court and the Ministry of Justice.