“End of the Eternal Debtor” Round Table Held in Sofia

"The End of the Eternal Debtor" is the topic of a round table, organised by the Committee on Legal Affairs in the National Assembly on 23^rd of June. The event will discuss options for introduction of a ten-year absolute period of prescription for individuals. This means that all unsecured receivables would be extinguished at the end of that term.

At the beginning of the month, GERB tabled such a proposal to the Legal Affairs Commitee. The idea is that this might be an alternative to personal bankruptcy, which exists in most European countries. Representatives of banks, bailiffs and representatives of the judiciary will take part in the discussion.