Prof Dr Madaus and Dr Ɖurić at the expert talk on insolvency law with the Deputy Minister of Justice of Ukraine, Banchuk, and the Deputy Minister of Justice of Ukraine, Kolomiets.
Ukraine

Despite the war that is raging against Ukraine, the country is continuing with its rule of law reforms, including in the area of insolvency law. Insolvency law will play a major role in the reconstruction and economic development of Ukraine in the medium to long term. The IRZ was requested by the Ministry of Justice of Ukraine to engage in consultations on the reform of insolvency law, and organised a first online discussion with the Ministry of Justice of Ukraine on 9 March 2023.

The experts were represented by Prof Dr Stephan Madaus, Martin Luther University Halle-Wittenberg, Chair of Civil Law, Civil Procedure and Insolvency Law and Dr Ɖuro Ɖurić, visiting scholar at the chair at the university.

The focus of the expert talk was the purpose and key points of Directive (EU) 2019/1023 of the European Parliament and of the Council of 20 June 2019 on preventive restructuring frameworks, debt relief and prohibitions on activities, and measures to increase the efficiency of restructuring, insolvency and debt relief procedures.

The application of this EU guideline in Germany was analysed and discussed as to what extent the current Ukrainian insolvency law corresponds to this guideline and where changes should be implemented.

Ukraine obtained EU candidate status in June 2022. Since then, EU legal harmonisation has been the increasing focus of reform efforts in Ukraine. High-ranking representatives from the Ministry of Justice of Ukraine therefore took part in the expert talks: the Deputy Minister of Justice, Oleksandr Banchuk, and Deputy Minister of Justice, Valeria Kolomiets.

The IRZ will continue to support the reform of the Ukrainian insolvency law in an advisory capacity. Expert talks and the preparation of written reports are planned along with other activities.