22 December 2021 – ISET Policy Institute hosted the first Public-Private Dialogue on Insolvency Reform under our “ReforMeter” project. The PPD was attended by various stakeholders engaged in or affected by the reform. Attendees included reform implementing agencies – the Ministry of Justice (MoJ), the Training Center of Justice (TCJ), the National Bureau of Enforcement (NBE), the Business Rehabilitation and Insolvency Practitioners Association (BRIPA) – as well as representatives from other donor organization, business associations, and consulting groups.
The implementing agencies utilized the PPD platform to review the reform dynamics – demonstrating the main bottlenecks in the legal framework previously regulating insolvency proceedings in Georgia. The main goals of the new insolvency law, and its progress against the core reform activities, were also discussed. The attendees additionally highlighted the existing challenges regarding reform implementation. Notably, these impediments chiefly relate to poor awareness of the new law and its focus on rehabilitation across the business sector.