Working discussions organised to improve the draft Bankruptcy Code and related laws of the Republic of Armenia

The 2022-2026 Strategy for Judicial and Legal Reforms of the Republic of Armenia and the Action Plan arising from the Strategy provide for drafting of a universal legislation on bankruptcy as an independent strategic objective and direction, in the context of which the Ministry of Justice, in co-operation with the Asian Development Bank, has drafted and put into circulation the draft Bankruptcy Code and related laws of the Republic of Armenia. 

For the purpose of improving the draft Bankruptcy Code and related laws of the Republic of Armenia, specifically addressing and modifying the comments and suggestions, on 5-8 May, the Ministry of Justice organised working discussions with interested bodies and organisations. The discussions were attended by representatives of public administration bodies and independent bodies, judges, representatives of financial institutions, notaries public, bankruptcy administrators and advocates.

The Ministry of Justice attaches importance to the participation of interested persons in the process of improving drafts and intends — prior to submission of the draft to the Government — to continue discussions with interested parties in different formats.