ArmInfo. A strict procedure of bankruptcy and direct control system should be capsulated in Armenia, and the rules of engagement should be defined clearly. This was stated by Karen Karapetyan, the Prime Minister of Armenia, at the Government Session on May 25.
According to him, based on the results of the studies conducted, it has been discovered that only in 2016- 2017 due to overdue payables of entities forming AMD 22 bln, 2100 cases were raised. In respect to some entities optional tools could be implemented. Moreover, the activities of many bankruptcy managers is insufficient, and the bankruptcy procedures last very long. " the process turns unmanageable. We should show a stricter approach to that, and implement new rules," the Prime Minister summarized.
