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Results of indicative survey about the insolvency system

Nov 28, 2013
138 respondents participated in an indicative, anonymous questionnaire conducted by organizers of the Outlook seminar to debate the insolvency system of Latvia.

Main conclusions:
  • 77% of respondents have encountered the insolvency or bankruptcy protection proceedings in their business;
  • 83% admitted that the state would be unable to effectively protect their legitimate interests in the case of insolvency;
  • 76% consider that insolvency and bankruptcy protection proceedings are not fully transparent and fair.
  • Low trust in all institutions involved in governance and supervision of the insolvency process was indicated (out of 10):
    a) Insolvency administrators 3.2
    b) State Agency the Insolvency Administration 3.5
    c) Court 4.6
    d) State Police and Prosecutor's Office 3.9
The full results of the questionnaire are available here.
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