We have launched an assessment on business reorganisation tools in all 38 economies where the EBRD invests. The assessment will review existing national legislation in our economies of operations to identify any strengths and weaknesses and will take into consideration the views of interested parties and local insolvency system users to assess its effectiveness. For benchmarking purposes we have extended questionnaire to all European Union countries.
The importance of business reorganisation has been emphasised by coronavirus pandemic. The pandemic has already had an unprecedented severe impact on many businesses across the world. We expect that many national governments will be seeking to strengthen their restructuring regimes for businesses in response to the pandemic and related financial crisis. The aim of this assessment is to identify gaps and to set out best practices in key areas of business reorganisation and restructuring that need additional support or development. It will also help the EBRD and its partners to identify new areas for potential technical assistance in the area of business reorganisation and insolvency.
The input of every respondent to our questionnaire is invaluable and will contribute to further legal reforms in our economies of operation. The assessment questionnaire will be available until 31 October 2020. Following the collection of responses, we will publish the overall scores for each economy on an aggregate and anonymous basis. The respondents can indicate if they are willing to be mentioned in the final report. The final results of the assessment for each economy will be available under the relevant jurisdictional profile and will be contextualised in the form of a comparative cross-jurisdictional final report.
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