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Bankruptcy law to be changed in Belarus

... proposed to be liquidated by selling the assets to interested investors. Thus, business and production will be preserved without negative consequences for the social sphere. According to the document, defense and energy enterprises will not fall under bankruptcy, regardless of their form of ownership. The Government of Belarus will make up the specific list of such companies. The powers of the state bodies in the field of bankruptcy are also expected to be expanded. In particular, executive committees will have the right to organize insolvency prevention in the jurisdictional ...

Belarus abandoned the idea of introduction the institution of bankruptcy of individuals

... general, to the low level of debt load of the country's citizens. This position was voiced by the judge of the Supreme Court Viktor Shilchenok. The servant of Themis indicated that, in his opinion, it was premature to introduce the institution of bankruptcy of individuals in Belarus. Before making a decision, it is necessary to study a number of economic indicators, Belta reports . Shilchenok recalled that the country had a low level of debt load of the population and a good culture of debt repayment. At the same time, Belarus ...

THE BELARUSIAN NETWORK OF CHILDREN'S GOODS WAS ATTACKED WITH LAWSUITS IN THE RUSSIAN FEDERATION

... receive them, the entrepreneur sold 25% of the business to the European Bank for Reconstruction and Development (EBRD). In 2018, the Polish CDRL became the main owner of the company, which received about 90% of the capital. CDRL announced the near-bankruptcy state of the business in the fall of 2023. It turned out that Buslik's losses reached 1.7 million zlotys (1.4 million Belarusian rubles). The goods from Poland that the chain was selling were not paid for. But the firm did not file any insolvency applications. There was no official information about the plans of the legal entity for liquidation. At the same time, CDRL ...

Lithuanian railways facing the threat of bankruptcy

... beginning of 2022. Bartushka said that the authorities may decide to stop the transit, thereby showing solidarity with Great Britain and the United States, but this will inevitably entail an appeal by the Belarusian side to the court. In this case, Belaruskalium will demand that the Lithuanian railway operator reimburse the lost income. According to the head of the company, even partial satisfaction of such a claim will threaten the company with billions of dollars in damages and subsequent bankruptcy. The information that the transit had been prepaid in advance excited the Lithuanian politicians in earnest. In particular, two government ministers announced their possible resignation at once - Foreign Minister Gabrielus Landsbergis and Head ...

MINSK MEAT-PROCESSING PLANT DECLARES BANKRUPTCY

Minsk Meat-Processing Plant filed an insolvency claim with the Economic court of the Minsk region. The company, which until recently was one of the ten largest meat-processors in Belarus, owed creditors over 140 million Belarusian rubles (402 million rubles). The claim is dated May 17, but the public has recently learned about the bankruptcy from a publication on the TUT.BY Telegram channel. The company itself, which many knew thanks to the Meat Power trademark, has existed since 1922. In 2013, the unitary enterprise was privatized and received the status of a joint stock company....

BELAVIA AIRLINES MIGHT FACE BANKRUPTCY DUE TO THE EU SANCTIONS

The RyanAir airliner, which made an emergency landing in Minsk on May 23, may become the reason for the bankruptcy of the national air carrier of the Republic of Belarus. A significant number of experts come to this conclusion, commenting on the sanctions of the authorities of European countries. The EU summit that took place may be crucial for the national airline. The ban of Belavia on crossing the airspace ...

BELARUS LOST EVERY FIFTH TRAVEL AGENCY

The travel industry is going through hard times amid the COVID-19 pandemic and the global lockdown. In Belarus, the situation was further complicated by internal political circumstances, because of which the state authorities were in no hurry to recognize the problems of the industry and therefore to allocate financial assistance to save it. According ...

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