The latest amendments to the Kazakhstan Rehabilitation and Bankruptcy Law were signed on April 2, 2019, and became effective from April 14. The amendments enhance the priority right of secured creditors through the acceptance of pledged assets in kind or the implementation of self-facilitated foreclosure over pledged assets. Notably, the law provides that pledged assets are carved out from bankruptcy estates.

Priority of Claims of Secured Creditors

To exercise a priority right, a secured creditor must comply with the following procedure:

On 10 January 2020, new amendments to the “Law on Rehabilitation Procedure and Bankruptcy” dated 7 March 2014 No. 176-V (the “Old Law”) and related legal acts came into effect by the Law dated 27 December 2019 No. 290-VI (the Old Law, as amended, theAmended Law). The new amendments aim to facilitate and expedite the process for unsuccessful businesses to be liquidated. The main features of the Amended Law are outlined below

Conclusion on financial stability by a temporary manager/administrator

Article 295 of the Jordanian Commerce Law 1966 allows a merchant on the verge of bankruptcy to avoid bankruptcy and gain protection from creditors executing judgments against the merchant by initiating a court-sponsored settlement process with the creditors (‘preventive composition’).

We have recently prepared a study on court practice in Latvia in board liability cases. A short summary of our main findings appears below.

Veidojot tiesiskumā balstītu uzņēmējdarbības vidi, Ārvalstu investoru padome Latvijā (ĀIPL) organizēja paneļdiskusiju un augsta līmeņa tikšanos valdībā, turpinot jau ilggadējo sadarbību ar nolūku sekmēt kvalitatīvu investīciju piesaisti.

26. maija paneļdiskusijā biroja vecākais partneris Māris Vainovskis pārstāvēja ĀIPL tiesu sistēmas efektivitātes un investīciju aizsardzības darba grupu par tiesiskuma jautājumiem Latvijā.

The main law governing insolvency issues in Latvia is the Insolvency Law (Maksātnespējas likums)

The types of proceedings available are as follows:

On 6 January 2017, another package of large-scale amendments to the Insolvency Law came partly into force. The main part of the amendments to the Insolvency Law comes into force on 1 July 2017 and thereafter.

GRATA, - 2020,

GRATA Monthly Summary, January-February 2020, Kyrgyzstan

:

Table of content:

1 On clarification on the procedure for installing and , using equipment designed to accept payments using bank payment cards or electronic money

2 , On prohibition of activities related to geological

exploration for the purpose of prospecting, exploration

, , and development of uranium and thorium deposits in

the Kyrgyz Republic

3 " On adoption of the Law on the national budget of the

Kuwait is now considering a new law that will bring its bankruptcy and insolvency legal regime closer to Chapter 11 of Title 11 of the United States Bankruptcy Code.

The proposed Law on Bankruptcy (the “Draft Law”) is currently being reviewed by the Department of Legal Opinions & Legislation of the State of Kuwait.

Key changes proposed in the new Rehabilitation and Bankruptcy Law affect involuntary petitions for bankruptcy, invalidations, trustees' avoidance powers, debtors' dissolution, and priority of claims.