Insolvency/Restructuring

Bulgaria: A Step Closer to a More Effective Insolvency and Restructuring Regime

The extended deadline for the implementation of the Directive (EU) 2019/1023 has expired on July 17, 2022. More than a year later, in August 2023, the amendments to the Bulgarian Commercial Act concerning, among other things, insolvency and restructuring rules and procedures were finally published in the Bulgarian State Gazette. Apart from pure alignment with the European legislation, the amendments are aimed at certain long-standing shortcomings of the Bulgarian insolvency and restructuring regime.

Romania: Longstanding Legal Debate Over Improper Bookkeeping Settled by High Court

The Romanian High Court has recently settled a long-standing legal debate over the conditions for holding administrators personally liable in cases of improper bookkeeping of an insolvent company. This issue has been a point of contention within the legal system since 1995, creating divergence in jurisprudence that required resolution.

Slovakia: Dawn of a New Era for Insolvency Proceedings?

For a long time, the Slovak insolvency law landscape was overshadowed by deep structural problems that resulted in a dire outlook for creditors in insolvency and restructuring proceedings.

Resist Advises on SKOK Kujawiak Bankruptcy Proceedings

Resist Rezanko Sitek is advising the bankruptcy trustee on the bankruptcy proceedings for SKOK Kujawiak.

Foreclosure Over Cryptocurrency in Bulgaria

Cryptocurrency has been gaining momentum in the recent decade all over the world, including Bulgaria. On one hand, the development of block chain technology and the wide spreading digitalisation in almost every sphere of human life reasonably produced new revolutionary payment means along with the traditional good old money. On the other hand, cryptocurrency rapidly became a symbol of freedom as not being issued and accepted by any central bank or credit institution as well as being easily accessible via Internet literally by every person.