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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.

Troubled businesses: navigating the insolvency maze
24 May 2023

There will always be “winners” and “losers” in a market economy, which entails constant competition between companies for access to limited resources. The loser in this case is a company that is unable to pay its financial obligations on time and thus becomes insolvent.

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.

Project "ReforMeter" announces student blogs competition
13 December 2022

If you are an undergraduate student of an accredited higher education institution or a student of a vocational education institution in Georgia and ongoing economic reforms in the country interest you, this call is for you!

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