‘We offer to facilitate trials on such simple process as secured transaction system. Because today the bankruptcy procedures, considered in the legislation, do not correspond to the experience of the developed countries. If Azerbaijan wants to develop this sphere, it must take the novelties into account. Besides, the procedures on payment of liabilities on loans must be eased, too’, noted Mammadova.
Note that after adoption of the mentioned draft law, the main spheres to be changed will be the Civil Code and bankruptcy legislation.
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