The new bankruptcy law, which came into force in end March this year, yielded positive results as regards the shortening of the bankruptcy proceedings, said Deputy Economy Minister Kiro Spandzev at a press conference today.

Under the new law, bankruptcy proceedings should be over in 6 to 9 months and bankruptcy trustees have so far observed the provision. Only 10-15 percent of the proceedings took longer than prescribed, according to Spandzev. However, they were not launched over the past 6 months, he further explained.