On 21 April 2019, a new document – the Ukrainian Code of Bankruptcy Procedure (the 'Code') – came into force. The enactment of the Code will take place six months after the effective date.

The Code contains novel provisions that have never existed before in Ukrainian law and in relation to which there is no caselaw. Such novelties include, among other things, the concept of 'individual bankruptcy,' which is designed to allow an individual to restore their solvency. The Code has a separate Book addressing the issues of individual bankruptcy.