Economic insolvency (bankruptcy) procedure changed

According to Edict of the President of the Republic of Belarus No 328 of 25 June 2010 the economic insolvency (bankruptcy) is to be changed in order to facilitate the alienation of certain types of the debtor's property and to facilitate the satisfaction of creditors’ demands. The changes concern state-housing and state-owned objects, property that cannot be realized at public trading and certain other objects.

The Edict enters into force from 1 January 2011.