{
  "title": "Republic of Lithuania: Financial Sector Assessment Program Update-Technical Note-Insolvency and Creditor Rights Assessment",
  "publication": "IMF Staff Country Reports, July 23, 2008",
  "sourceUrl": "https://www.imf.org/en/publications/cr/issues/2016/12/31/republic-of-lithuania-financial-sector-assessment-program-update-technical-note-insolvency-22197",
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  "summary": "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.",
  "sections": [
    {
      "heading": "Overview and scope",
      "content": "- Technical Note discusses key findings of the insolvency and creditor rights assessment for Lithuania.\n- Focus areas: creditor rights legislation, related institutions, secured transactions regime, bailiffs system, corporate insolvency framework."
    },
    {
      "heading": "Key findings",
      "content": "- Lithuania has made significant progress in the field of creditor rights legislation and related institutions.\n- Under the current legal framework, the creation and registration of secured transactions is rather easy and affordable.\n- The privatization of the bailiffs system has contributed to accelerating the recovery process and increasing the enforcement efficiency.\n- In the area of corporate insolvency, the Enterprise Bankruptcy Law and the Law on Restructuring of Enterprises are generally consistent with international standards."
    },
    {
      "heading": "Subject areas and keywords",
      "content": "- Subject: Financial institutions, Financial sector policy and analysis, Legal support in revenue administration, Mortgages, Revenue administration, Solvency\n- Keywords: a number of judge, bailiff profession, CR, creditor, enterprise, EU country, EU regulation, Global, insolvency, insolvency administrator, insolvency law, insolvency proceeding, insolvency profession standard, ISCR, judge, Legal support in revenue administration, Mortgages, Solvency\n\n---\n\n Content in this bundle\n\n- cr08245 — Sections 1–2\n  - cr08245 — Sections 1–2 (Markdown version){rel=\"alternate\" type=\"text/markdown\"}\n  - cr08245 — Sections 1–2 (PDF){rel=\"external\" type=\"application/pdf\"}"
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    "Published: July 23, 2008",
    "Series: IMF Staff Country Reports",
    "DOI: https://doi.org/10.5089/9781451824193.002",
    "Technical Note discusses key findings of the insolvency and creditor rights assessment for Lithuania.",
    "Focus areas: creditor rights legislation, related institutions, secured transactions regime, bailiffs system, corporate insolvency framework.",
    "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.",
    "Subject: Financial institutions, Financial sector policy and analysis, Legal support in revenue administration, Mortgages, Revenue administration, Solvency",
    "Keywords: a number of judge, bailiff profession, CR, creditor, enterprise, EU country, EU regulation, Global, insolvency, insolvency administrator, insolvency law, insolvency proceeding, insolvency profession standard, ISCR, judge, Legal support in revenue administration, Mortgages, Solvency",
    "**_cr08245 — Sections 1–2**"
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