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Transposition of the Directive in Latvia
Amendments to the Insolvency Law, Civil Procedure Law and the Law On Protection of employees in case of Insolvency of Employer aimed at transposing the Directive on Restructuring and Insolvency were adopted in March this year and are applicable to proceedings initiated starting from 15 September. Read more about types of proceedings, statutory moratorium, classes of creditors […]
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Financial and insurance law news 29.09.-11.10.
Asking for a loan will be safer in the EU after the Council’s final approval of the Consumer Credit Directive Adopted – 9 October 2023 The Council of the European Union has voted to adopt the proposed directive (CCD II) which will revise and replace the Consumer Credit Directive (2008/48/EC) (CCD). In short, CCD II […]
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EU Dictionary of Insolvency Terms
We contributed to the EU Dictionary of Insolvency Terms, prepared by the international law firm DLA Piper, as regards the insolvency and restructuring legal frameworks in Latvia, Lithuania and Estonia. This invaluable resource provides a concise overview of all the corporate, personal and partnership insolvency proceedings for each EU member state. Each proceeding is briefly […]
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EBRD: Baltics ahead in national insolvency policy
The European Bank for Reconstruction and Development (EBRD) has released the 2023 Survey Report of Insolvency and Secured Transaction Regimes. The survey highlights national-level policy issues that prevent companies from being able to restructure funds or declare insolvency. The Baltic countries overall have exceptionally good insolvency policies compared to other countries surveyed. The issues According […]
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INSOL Europe Newsletter Spring 2023: Insolvency & Restructuring Statistics: Update from Latvia
Our senior associate Edvīns Draba has contributed to INSOL Europe Newsletter Spring 2023, telling more about insolvency and restructuring statistics in Latvia. Read the full newsletter HERE.