Fast and efficient insolvency process as one of the preconditions of an outstanding business environment

Valdis Savickis (Coresponding Author), Jolanta Dinsberga

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To date, in the articles and publications on the insolvency process, the primary objective of the insolvency process was emphasized – to balance the protection of legal interests of entrepreneurs and their creditors. The author's article, focusing on the basic principles of the insolvency of legal entities, aims at analyzing and examining the link of applicable principles of insolvency processes to preconditions for outstanding business environment. Focus of the topic indirectly addresses the potential of the regions and human capital. Methods applied in the study: 1) general scientific – analytical, descriptive, inductive and deductive; 2) interpretation of legal norms – grammatical, systematic and teleological. Materials, used in the study are political planning documents, documents of international institutions, normative acts, scientific and law literature, and dictionaries. Issues covered in the study: impact of the insolvency proceedings on preconditions for outstanding business environment and the role of the human capital; potential of the regions. Authors, resulting from the study, made the following conclusions: reforms of the insolvency law sphere have formally reached the primary goals, set out in the government level documents, however linkage with higher-level policy planning documents has remained in the second plan during reform process.
Original languageEnglish
Title of host publicationSHS Web of Conferences
EditorsL. Vilka, J. Vike
ISBN (Electronic)978-2-7598-9112-2
Publication statusPublished - 2020
Event7th International Interdisciplinary Scientific Conference "Society. Health. Welfare": Contemporary Social Dynamics and Welfare: Urban and Rural Development Perspectives - Riga, Latvia
Duration: 10 Oct 201812 Oct 2018
Conference number: 7


Conference7th International Interdisciplinary Scientific Conference "Society. Health. Welfare"
Internet address


  • business environment
  • guidelines
  • insolvency process
  • modernization
  • plan
  • servitude

Field of Science*

  • 5.5 Law

Publication Type*

  • 3.2. Articles or chapters in other proceedings other than those included in 3.1., with an ISBN or ISSN code


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