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 and cross-class cram-down, as well as changes in the insolvency proceedings of a natural person in the article by senior associate Edvīns Draba published in Eurofenix.

Transposition of the Directive in Latvia