Law 'On insolvency and bankruptcy' will be amended

Baku. 19 April. REPORT.AZ/ Azerbaijan may amend the Law "On insolvency and bankruptcy".

Report informs, draft amendment has been developed to specify rights and obligations of a property administrator appointed during bankruptcy, rights of debtor creditors, recovery conditions of an enterprise, payment priority during bankruptcy, persons having relations with debtor.

According to the amendment, signing of debt (credit) agreements will also be added to the property administrator's rights.

It was noted that the persons having relations with debtor cannot be elected property administrators.