The necessity of the adoption of the legislative initiative is conditioned by the large-scale amendments made to the law on Bankruptcy entered into force in April 2020, many problems emerged in the legal practice, the imperative of the introduction of the electronic justice tools and stems from the strategy of the reforms of 2022-2026 of the judicial tools.
The RA Deputy Minister of Justice Ara Mkrtchyan said this, presenting for debate in the first reading at the regular sitting of the NA Standing Committee on State and Legal Affairs the draft law on Making Amendments and Addenda to the law on Bankruptcy.
According to the Deputy Minister, it is expected to ensure the bankruptcy proceedings, from suiting it until the end, an opportunity of carrying out it electronically, as well as to solve some urgent problems, particularly touching upon the cases of voluntary bankruptcy abuse and the list of the documents being presented by the debtor, regulations on some issues of the Governors’ Bankruptcy Institute, the ways of holding the creditors’ demands and the restoration of the debtor’s playability, the financial recovery and the auctions.
The co-rapporteur Lilit Minasyan stressed the importance of the electronic system introduction. She called on her colleagues to vote for it.
The Committee members endorsed the draft law.