MP Valeriy Pysarenko from the BYT party forecasts that the draft law on the bankruptcy of individuals (No. 4,273), which he drew up, will be discussed by the end of the current parliamentary session.
"I don't have co-authors in this issue, but there are supporters of the idea. I have the feeling that if not at the end of this session, at the start of the next session we will approve the draft," he said at a roundtable on legal instruments for combating the crisis in the consumer crediting market held at Interfax-Ukraine last week.
The MP said that the draft is his personal initiative, and at present he is in communication with the heads of parliament's factions to put the draft up for voting at the current session. Pysarenko said that the Communist faction did not support the draft.
The roundtable participants discussed the requirement in Pysarenko's draft banning individuals from running economic activities for five years after being declared bankrupt.
"Maybe it's not worth banning people from activities that could bring in additional income to their families, but we should seriously think of the responsibilities that citizens will have after they are declared bankrupt," said the board chairman of Kharkiv-based UkrSibbank, Serhiy Naumov.
He said that it would be expedient to tackle the issue with other means, for example, banning such persons from going abroad.
A lawyer of Volkov Koziakov and Partners law firm, Lesia Kovtun, also said that it is inexpedient to restrict the business activities of individuals, as it would be not in line with the constitution, and moreover, the banks would loose potential clients.
She also said that the draft should regulate crediting issues in full, starting from the moment of the registration of credits to the moment when individuals become borrowers and later are declared bankrupt.
"Creditors should understand all of the risks linked with the issue of credits, thoroughly check borrowers and not try to put them on a financial hook to bleed them dry later," said Roman Khrustenko, a lawyer and managing partner of the Ol&Rust Law Firm.
In turn, director general of Fortum Debt Management Company, Yevhen Prokopenko, said that it is necessary to stipulate in the law the responsibility of creditors to maintain the greatest transparency in the explanation of conditions for receiving of credits and create a mechanism by which borrowers can make responsible decisions regarding the taking of credits.
In addition, he said that it is necessary to foresee the long-term prospects for credit relations and bankruptcy procedures to settle relations between creditors and borrowers in the future, and foresee the preventive explanation work with potential debtors.
As reported, the draft law amending some Ukrainian laws regarding the bankruptcy of individuals was registered in the parliament in March 2009.
Source: Interfax-Ukraine