INSOLVENCY PROCESS OF LEGAL ENTITIES: THE NEW LAW FIRST YEAR’S APPLICATION PROBLEMS

Abstract

In June 2010 Latvian Parliament (Saeima) adopted the new Insolvency Law. This article provides analysis of the main problem issues arising of a new law regulating legal entities insolvency process, and, subsequently, on the basis of the present research identifies several areas for further improvement of the legal regulation. The above confirms relevance of the topic of the present article and its importance. The research has the following tasks: identification and investigation of the main problem issues arising of a new law regulating legal entities insolvency process; examination and analysis of the legal entities insolvency process. With the view of the purpose set for this research, the author has applied empirical and theoretical scientific research methods.