Conditions for the bankruptcy of natural persons: which Baltic state is the most attractive for bankruptcy?

In recent years, lawmakers have struggled with a multitude of negative effects caused by the rapidly rising tide of debt distress among natural persons. Data from 2020 confirm the relevance of the bankruptcy of natural persons in the Baltic states. One of the factors that determine the choice of a natural person to go bankrupt is the provision of reasonable grounds to open bankruptcy proceedings. This article uses comparative analysis to answer, from the perspective of the debtor, the question of: in which Baltic state does the most favourable regime for initiating a bankruptcy case exist for a natural person?