The Verkhovna Rada Committee on Economic Development recommended that parliament adopt in full bill No. 15024 to simplify bankruptcy procedures for micro- and small businesses. Details — reports.
Special mechanism for micro- and small businesses
The bill proposes introducing a separate bankruptcy mechanism adapted to the capacities of micro-enterprises and small enterprises. It envisages shorter timelines and lower costs for procedures, as well as reduced bureaucratic burden and faster case consideration.
The provisions of the document are based on the principles of the European Union (EU) Directive 2019/1023 and are related to fulfilling obligations under the Ukraine Facility programme. The bill is part of European integration reforms.
Safeguards against abuse
The draft includes mechanisms intended to prevent abuse of the simplified procedure. The system is designed to ensure it can be used by bona fide entrepreneurs rather than by those attempting to evade their obligations.
In addition to shorter timelines and lower costs, the document aims to create conditions for a faster resumption of entrepreneurial activity after the completion of insolvency procedures. The draft also sets out procedures to reduce administrative obstacles.
Purpose of the procedures and available data on proceedings
Lawmakers say that effective insolvency procedures will help return assets and resources to economic circulation, improve payment discipline and increase transparency in economic relations.
The source text provides statistical data: during 2025 courts opened 2156 bankruptcy proceedings and closed 1528 such cases. As of 1 January 2026, 5486 entities were subject to bankruptcy (insolvency) procedures.
