Special issue preventive restructuring 13. The New Corporate Restructuring Regime in Lithuania

Abstract

Lithuania underwent a substantial corporate restructuring regime overhaul in 2019 and 2021. This article examined the transformative changes brought by these reforms on the insolvency legal framework in Lithuania, draws comparison with reforms in other countries and evaluates their overall impact on the sound business framework in Lithuania. It concludes that Lithuania has adopted a strategic approach centered on the punctual and technical transposition of the rules outlined in the Preventive Restructuring Directive into the existent insolvency framework. It has chosen not to create any new separate procedure specifically tailored to pre-insolvency situations.