LIQUIDATION OF ASSETS IN ENTREPRENEUR INSOLVENCY PROCEEDINGS

Assist. Prof. Vladislav Ivanov, PhD

Department of Private Law Studies “Angel Kanchev” University of Ruse

Abstract

In 2023 a new insolvency proceeding regarding entrepreneurs was enacted and thus an opportunity for natural persons who are not sole traders to declare bankruptcy was finally created. Since then, however, this proceeding has been a topic of debate due to several controversial legislative decisions. The aim of this paper is to analyze the options for liquidation of assets in entrepreneur insolvency proceedings, to compare these rules with the similar ones in enforcement proceedings and to assess whether the new proceeding can accomplish the goals set out with its creation. In addition, proposals de lege ferenda will be made aiming at improving the regulation of the proceeding.

Keywords

insolvency, entrepreneur, liquidation, enforcement

REFERENCES

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