25 September 2018
Can statutory amendments save Lithuania from debts?
The portfolio of Lithuanian debtors preserves more than EUR 4 billion of debt, or more than a tenth of the state’s gross domestic product. It includes unpaid salaries to employees, utility charges, outstanding loans, unpaid fines for breaches of administrative law and numerous other debts. What is going to change since 1 December 2018 after the entry into force of the mitigated debt recovery procedure? Will the balance of interests of lenders and debtors be maintained?