IFC prepared a guide on Debt resolution and business exit

IFC prepared a guide on Debt resolution and business exit

In the ambit of the Debt Resolution Phase II Project, the International Finance Corporation (IFC), member of the World Bank Group (WBG), with the support of the Swiss State Secretariat for Economic Affairs (SECO), commissioned the preparation of a Guide on expedited restructuring, hereinafter simply referred to as the “Guide”, which shall explain the rules and procedures laid out by the law no. 110/2016 “On bankruptcy” (“the LoB”) and the relevant bylaws1 on such type of restructuring of insolvent debtors. The Guide shall offer a possibility to get to know the procedures from their commencement up to the finalization of the expedited restructuring between the debtor and its creditor/s. In line with other similar documents produced for this Project, this Guide provides the reader with detailed information on the novelty of the Albanian bankruptcy system.

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