Nataliia Kharchuk, the Partner at Pragnum, participated in the II Forum on Competition Law dedicated to debt recovery, restructuring and bankruptcy. The event organised by the Ukrainian Bar Associated was attended by the leading lawyers, bankers, businessmen as well as representatives of the Ministry of Justice and people's deputies. The experts discussed possible legislative amendments in the bankruptcy sphere that would allow simplifying the procedure and give more rights to lenders. The specialists also suggested regulating the procedure for sale of property in order to prevent its sale for next to nothing. According to Nataliia, the legislative framework in the bankruptcy sphere has faults and needs to be improved promptly:

“The amendments to be adopted must first and foremost reduce the number of artificial bankruptcy proceedings as well as duration of the proceedings themselves.”

In the course of discussion of the draft laws, Nataliia and the representative of the Supreme Economic Court of Ukraine agreed that the bankruptcy laws had to be reformed urgently as currently there was a high level of abuse of bankruptcy proceedings, both general and simplified ones. Pragnum's partner noted,

“Unless we take decision on reforms, rights of lenders and capability of satisfying their claims will remain at the low level whereas abuse will keep growing.”