The Ministry of Justice submitted a draft amendment of the Bankruptcy Act to the Government as required in April's package of economic measures.
According to this draft a debtor would be obliged to file a bankruptcy petition not only in the case when he has debts but also in the case of his insolvency. The amendment also proposes a deadline for submission of the report to the court by a bankruptcy administrator - within 18 months from the date when the bankruptcy was declared.
The proposals should give greater powers over activities of companies which are insolvent, as well as companies that are evading taxes.
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