Republic of Lithuania: Financial Sector Assessment Program Update-Technical Note-Insolvency and Creditor Rights Assessment

International Monetary Fund

No 2008/245, IMF Staff Country Reports from International Monetary Fund

Abstract: This Technical Note discusses key findings of the insolvency and creditor rights assessment for Lithuania. Lithuania has made significant progress in the field of creditor rights legislation and related institutions. Under the current legal framework, the creation and registration of secured transactions is rather easy and affordable. The privatization of the bailiffs system has contributed to accelerating the recovery process and increasing the enforcement efficiency. In the area of corporate insolvency, the Enterprise Bankruptcy Law and the Law on Restructuring of Enterprises are generally consistent with international standards.

Keywords: ISCR; CR; insolvency; judge; insolvency administrator; creditor; enterprise; EU regulation; insolvency proceeding; insolvency profession standard; bailiff profession; insolvency law; EU country; a number of judge; Solvency; Legal support in revenue administration; Mortgages; Global (search for similar items in EconPapers)
Pages: 12
Date: 2008-07-23
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