The Committee on Economy, Budget, and Finance organized public consultations on Tuesday regarding the draft amendment to the insolvency law. The goal of the consultations was to gather opinions and suggestions to improve the draft law and ensure an efficient legal framework in the field of insolvency, IPN reports.

The meeting was attended by representatives from the Ministry of Economic Development and Digitalization, the Ministry of Justice, the Union of Authorized Administrators, the Chisinau City Hall, creditors, debtors, and other interested parties.

Representatives from the Ministry of Economic Development clarified that this draft law is "a first step to reduce and address some of the difficulties and delays observed in insolvency procedures".

Members of the Union of Authorized Administrators discussed issues related to the remuneration of provisional administrators and proposed amendments to Article 25, Paragraph 6 of the law. They also requested clarifications regarding the success fee for administrators.

The Committee on Economy, Budget, and Finance will review the proposals and comments received during the public consultations and will continue discussions with the representatives of the Ministry of Economic Development and Digitalization, who are the authors of the draft law.