Dear colleagues,
It is my honour to inform you that the Law “On Financial Restructuring” №1414-VIII dated 14.06.2016 (referred to herein as the Law) came into force on October 19th, 2016.
The Law is directed at clarifying the conditions and the order for performing the procedure of voluntary financial restructuring with the aim of restoring the commercial activity of the debtor enterprises. With respect to the fact that, under the Law, the procedure of voluntary financial restructuring is available exclusively to debtors with financial institutions among their creditors, we would like to address you with the following information: