For decades, the main driving force of economic growth has been the consumption of goods acquired through credit, which in turn inevitably leads to the problem of over-commitment of liabilities. Accordingly, the institution of natural person\u2019s insolvency is in fact an integral part of the modern economic model. It was introduced in Latvia in 2007, and after several amendments to the law, the legal regulation in Latvia regarding the insolvency proceedings of a natural person is one of the most liberal legal regulations in the European Union. <\/p>\n\n\n\n
The \u201cside effect\u201d of liberal regulation of the insolvency process of natural persons is the problem of dishonest debtors, the solutions to which have been quite ambiguous for the time being, as in Latvia a so-called \u201csecond chance\u201d is also provided to such debtors, whose honesty could be doubted. The managing partner of the law firm NOVIUS, Sworn Attorney Kaspars Novic\u0101ns, discusses the findings of court practice in relation to the most typical manifestations of debtors\u2019 dishonesty in the court practice of Latvia. <\/p>\n\n\n\n
Read more: <\/em>Novic\u0101ns K. Fizisk\u0101s personas maks\u0101tnesp\u0113jas procesa izbeig\u0161ana negodpr\u0101t\u012bgam par\u0101dniekam (Termination of insolvency proceedings of a natural person for a dishonest debtor).<\/em> Bilances Juridiskie Padomi, July 2019, No. 7 (73). Available at: https:\/\/juridiskiepadomi.lv\/nr-7-julijs-2019\/<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" For decades, the main driving force of economic growth has been the consumption of goods acquired through credit, which in turn inevitably leads to the problem of over-commitment of liabilities. Accordingly, the institution of natural person\u2019s insolvency is in fact an integral part of the … <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[42],"tags":[],"class_list":["post-2615","post","type-post","status-publish","format-standard","hentry","category-uncategorized-en"],"_links":{"self":[{"href":"https:\/\/novius.lv\/en\/wp-json\/wp\/v2\/posts\/2615","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/novius.lv\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/novius.lv\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/novius.lv\/en\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/novius.lv\/en\/wp-json\/wp\/v2\/comments?post=2615"}],"version-history":[{"count":2,"href":"https:\/\/novius.lv\/en\/wp-json\/wp\/v2\/posts\/2615\/revisions"}],"predecessor-version":[{"id":2645,"href":"https:\/\/novius.lv\/en\/wp-json\/wp\/v2\/posts\/2615\/revisions\/2645"}],"wp:attachment":[{"href":"https:\/\/novius.lv\/en\/wp-json\/wp\/v2\/media?parent=2615"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/novius.lv\/en\/wp-json\/wp\/v2\/categories?post=2615"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/novius.lv\/en\/wp-json\/wp\/v2\/tags?post=2615"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}