Business not keen on changes to toughen up bankruptcy regulations

The Justice Ministry's Civil Code Codification Commission is working on amendments to bankruptcy laws and regulations, but complains that businesses are reluctant to give their opinions and views on the subject. The changes are meant to better protect the interests of creditors and speed up ba nkruptcy proceedings. The Commission proposes to introduce the possibility of legally securing debtor's assets, so as they cannot be sold before being officially taken over by the receiver. Receivership proceedings are to be changed to be much more flexible than they are now, allowing the parties involved to agree on the best solution for them. (Prawo i Gospodarka, p. 8) T.J.