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The Code on Bankruptcy Procedures is another step to improve business climate in Ukraine, and introduction of the world’s practice of personal bankruptcy into the national legislation is undoubtedly a significant innovation. Ms Lada Konduforova, Chief Legal Officer – Head of Legal Function of Smart-Holding, noted this in the comment to UNIAN.

Speaking at the Business Protection Forum, Lada Konduforova, Chief Legal Officer and General Counsel of SMART-HOLDING, noted that today businesses face two threats. The first one is competition. This is a normal threat that stimulates development. The second threat is the government authorities, which is not normal phenomenon for a state governed by the rule of law.

‘In our state, a majority owner is often completely rightless,’ notes Lada Konduforova, Chief Legal Officer at Smart-Holding.