The insolvency and bankruptcy procedure will be improved

The Supreme Council of the Pridnestrovian Moldavian Republic adopted in the first reading in the course of online plenary session on March 1 a package of legislations that will increase the efficiency of relations in the field of bankruptcy of enterprises and help resolve long-term disputes in courts.

A working group was created in the Supreme Council of the Pridnestrovian Moldavian Republic a year ago, which for several months analyzed and systematized the problems that arise during the bankruptcy procedure of organizations and enterprises. The meetings of the working group were attended by parliamentary committees, ministries, departments, representatives of courts and public authorities. The developed solutions were collected in a package of 7 legislations, the authors of which were deputies Alexander Korshunov and Anton Onufrienko. 4 legislative initiatives were submitted to the plenary session on March 1, they were adopted in the first reading. The rest legislative initiatives will be finalized by the authors together with the executive authorities.

The amendments adopted in the first reading are introduced into the laws “On Insolvency (Bankruptcy)”, “On State Registration of Rights to Real Estate and Transactions”, “On the Fundamentals of the Tax System in the PMR” and the Criminal Code of the PMR. For example, the presented set of measures will allow to accelerate the repayment of debts, primarily on wages to former employees of bankrupt enterprises, to toughen punishment for crimes in the field of bankruptcy, to introduce a simplified procedure for processing documents for the property of a legal entity declared insolvent (bankrupt)) and others.

The comments made at the plenary session will be taken into account when working on draft laws for the second reading the parliamentarian Anton Onufrienko noted.