Publication / Edvīns Draba, Greta Kubiliūnaitė
The European Bank for Reconstruction & Development (EBRD) has completed its Business Reorganisation Assessment, which was launched in 2020 in response to the economic crisis generated by the Covid-19 pandemic. As a result, the main EBRD Assessment Report was published in January 2022. The report provides a comprehensive cross-jurisdictional analysis of business reorganisation tools and stakeholders’ […]
Several amendments to the Latvian Insolvency Law have been adopted over the course of the Summer. In addition, a separate law providing for the discharge of obligations of natural persons has been passed and will come into force on 1 January 2022. Here is an outline of these changes. Our colleague Edvīns Draba sharing the […]
There are many natural persons who can no longer meet their debt obligations in the Baltic states. For them, overindebtedness is not just a temporary problem – various factors have led to an increase in the number of insolvent natural persons. As shown by economic examples, the insolvency of natural persons is caused by excessive […]
Senior associate Edvīns Draba contributed an article on Latvia to an overview of the regulation of restructuring and insolvency in Europe (Münchener Kommentar zur Insolvenzordnung). https://www.beck-shop.de/art-102_102a-eginso-euinsvo-laenderberichte/product/25386951
On 18 March 2021, the Latvian Parliament adopted amendments to the Latvian Law on the Suppression of Consequences of the Spread of COVID-19 Infection (“the Latvian Covid-19 Law”) that provide for a further extension of the insolvency moratorium. Suspension of creditors’ right to file for insolvency Pursuant to the amendments to Article 22, Paragraph 1 […]
