Resolution amends the Regulation on the Ministry of Justice of Ukraine in connection with the implementation of EU Directive 2019/1023 and the introduction of preventive restructuring procedures. The powers of the Ministry of Justice in the field of preventing debtors’ insolvency are being expanded. Structurally, the resolution consists of two main parts: amendments to the Regulation on the Ministry of Justice and a list of resolutions that are losing effect. The main changes relate to expanding the ministry’s competence regarding preventive restructuring and insolvency prevention.
Key innovations:
• The Ministry of Justice receives powers to approve standard forms of documents for preventive restructuring procedures
• An obligation is introduced to collect and publish statistical information about preventive restructuring procedures
• The Ministry must place information about early insolvency detection tools
• Some outdated resolutions regarding state enterprise rehabilitation and liability insurance for arbitration managers are being cancelled
