The Ministry of Justice has submitted the draft “Compulsory Enforcement Code,” intended to replace the current Enforcement and Bankruptcy Law No. 2004, for public and professional consultation. While the draft largely preserves the general structure of the existing law, it contains a number of significant changes.
One of the key changes is that, in enforcement proceedings based on a judgment, the enforceability of a first-instance court decision would be postponed until the conclusion of the appellate review (the regional court of appeal decision). The draft also envisages arrangements concerning individual and collective enforcement-bankruptcy proceedings, the enforcement provisions relating to maritime commerce, and the criminal provisions of enforcement law.
The process is still at the draft stage; it is expected to be submitted to Parliament and enacted. For this reason, the provisions of the current Enforcement and Bankruptcy Law continue to apply for the time being. The reform closely concerns parties to enforcement proceedings in particular, and we are following developments.