The number of bankruptcy cases has doubled. George Tal believes that amendments to the Law "On Bankruptcy" will ensure a more clear legal regulation of the procedure
Judging by the first quarter, the number of bankruptcy cases doubled, said Georgy Tal in the extensive interview with AK & M. If in mid-1999 540-560 procedures were excited a month, now their number has grown to 1200. According to Taly, even if there is no program of restructuring the economy and “regardless of changes in legal regulation, in the next few years the number of bankruptcy procedures will increase and, obviously, will reach a certain stable level by 2004-2005”.