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Vadym Kizlenko Delivers a Speech at the V Forum on Restructuring and Bankruptcy

News date: 9 June 2020

Vadym Kizlenko, the Counsel at Ilyashev & Partners Law Firm, the Member of the Disciplinary Commission of Insolvency Receivers of Ukraine, delivered a report entitled “Insolvency Receivers and the State” at the V Forum on Restructuring and Bankruptcy, which was organized by Yurydychna Praktyka Publishing House on 02-04 June 2020.

In his speech, Vadym Kizlenko pointed out that after the establishment of a self-regulatory organization in Ukraine in 2019, the profession of insolvency receiver gained a unique opportunity to reach a new level of its development: in the future Ukrainian insolvency receivers will be able to administer the matters of admission to the profession, organization of training, and suspension from practice. However, in his opinion, the self-regulatory organization will be able to take over the functions that are currently carried out by the Ministry of Justice of Ukraine only when it achieves the positive work results.

“The insolvency receiver is a key figure in the bankruptcy case on whose competence and literacy the effectiveness of the procedure depends, – says Vadym Kizlenko. – Unfortunately, the public does not currently thing highly of the insolvency receivers, most of whom are associated with raiders. To raise public confidence in the insolvency receivers we have to expend our best efforts every day”.

The participants of the Forum also discussed the professional training of insolvency receivers, their financial support, powers, guarantees and work obstacles.

V Forum on Restructuring and Bankruptcy is a specialized annual event organized for lawyers, insolvency receivers, as well as government officials to discuss novelties and problems existing in the field of restructuring and bankruptcy.