BUSINESS
OPPORTUNITY FOR DEBT RELIEF. AMENDMENT OF THE BANKRUPTCY LAW The Act of 30 August 2019, amending the Bankruptcy Law and certain other acts, introduced a number of changes, including the liberalization of the processes of debt relief for natural persons. The possibility of remission of obligations of consumers and entrepreneurs who are natural persons has been unified. The act also provides for the possibility of debt relief for the bankrupt by establishing a creditor repayment plan, for the remission of liabili ties without establishing a creditor repayment plan and conditional remission of liabilities without establishing a creditor repayment plan. Debt relief proceedings may be commenced within thirty days from the announcement of the decision on closing the insolvency proceedings. A respective application may be filed by the bankrupt who is a natural person. The court shall determine to what extent and within what period the bankrupt shall be obliged to pay the claims, included in the list of claims, which have not been satisfied in the course of the bankruptcy proceedings.
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Outsourcing&More | May–June 2020
