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Insolvency reform assessment report
01 November 2023

Before the current insolvency reform, Georgia’s legislative framework regulating insolvency proceedings fell short of meeting international standards – it did not meet either creditors’ or debtors’ needs and failed to offer incentives to the insolvent companies to choose rehabilitation as their optimal strategy for resolving financial difficulties.

Insolvency reform assessment report
06 February 2023

Prior to the current Insolvency Reform, Georgia’s legislative framework regulating insolvency proceedings fell short of meeting international standards – it did not meet neither creditors’ nor debtors’ needs and failed to offer incentives to the insolvent companies to choose rehabilitation as their optimal strategy for resolving financial difficulties.

What are the outcomes of the new insolvency law?
24 January 2023

Georgia’s new insolvency law – the Law of Georgia on rehabilitation and the collective satisfaction of creditors’ claims – became effective on 1 April 2021. Under which, if a business operating in Georgia has reached a low ebb and is no longer able to meet its financial obligations, it has the opportunity to regulate relations with creditors based on new legislative instruments – effectively, it is able to rehabilitate and return to the market in a viable manner, or, if necessary, it might declare bankruptcy and exit the market.

Insolvency Reform Assessment Report
01 February 2022

Prior to the current insolvency reform, Georgia’s legislative framework regulating insolvency proceedings fell short of meeting international standards – it did not meet neither creditors’ nor debtors’ needs and failed to offer incentives to the insolvent companies to choose rehabilitation as their optimal strategy for resolving financial difficulties.

Lead ISET Economist to Edit Prestigious Economics Journal
21 June 2021

Under ISET affiliation Luc Leruth, the Lead Economist in the Policy Institute’s Governance and Social Policy Research Center, has recently been appointed a co-editor of The Open-Access, Open-Assessment Journal Economics. As a new form of the academic journal, the publication incorporates a large research community with an open and innovative peer review process; where critically the research is seen as a cooperative enterprise between authors, editors, referees, and readers.

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