Licenses

PROCEDURE FOR ISSUING OF LICENSES:

Requirements for license issunce:

• A person having a university-level education and a passed professional exam for bankruptcy administrators may grant the license.

Required documentation:

Upon passing the professional exam, a candidate shall file a request for granting the license with the Agency, providing evidence of having met the requirements laid down by the Law on Bankruptcy Procedure, which are as follows:

• Certified copy of the diploma or of certificate of university-level education;

• Certificate of passed professional exam;

• The Agency issues and renews the licenses;

• License will be renewed at the request of a bankruptcy administrator, upon the expiration of the three-year period from the date it has been issued, if the bankruptcy administrator has fulfilled his/her duties in accordance with the Law, National Standards for Managing Bankrupt’s Estate and the Code of Ethics.

• The Agency may revoke the license before the end of the determined period if the bankruptcy administrator fails to act in accordance with the Law.

• If the license is not renewed timely or if it has been revoked, the Agency will erase the name of this bankruptcy administrator from the Register of Bankruptcy Administrators as soon as the decision becomes effective.

• Any bankruptcy administrator whose license has been revoked cannot apply for a new one within five years from the effective date of the decision on the revocation.

ISSUED LICENSES: