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Secured creditors have lost certain privileges under Bankruptcy Law

2011-10-21

On 22 September 2011, the Parliament of Ukraine adopted the Law of Ukraine No. 3795-VI “On Amendments to Several Legislative Acts of Ukraine regarding the Regulation of Legal Relations between Creditors and Receivers of Financial Services” (the “Law”). The Law, among other changes, introduced amendments to the Law of Ukraine “On Restoring Debtor’s Solvency or Recognising it Bankrupt”, No. 2343-XII, dated 14 May 1992, as amended (the “Bankruptcy Law”).

Filed under:

Ukraine, Insolvency & Restructuring, CMS Cameron McKenna Nabarro Olswang LLP, Bankruptcy, Debtor, Unsecured debt, Default (finance), Computer program, Bankruptcy discharge, Commercial Court (England and Wales)

Authors:

Adam Mycyk , Taras Burhan

Location:

Ukraine

Firm:

CMS Cameron McKenna Nabarro Olswang LLP

Secured creditors have lost certain privileges under bankruptcy law

2011-12-19

On 22 September 2011, the Parliament of Ukraine adopted the Law of Ukraine No. 3795-VI “On Amendments to Several Legislative Acts of Ukraine regarding the Regulation of Legal Relations between Creditors and Receivers of Financial Services” (the “Law”). The Law, among other changes, introduced amendments to the Law of Ukraine “On Restoring Debtor’s Solvency or Recognising it Bankrupt”, No. 2343-XII, dated 14 May 1992, as amended (the “Bankruptcy Law”).