New mechanism for financial recovery of weak agricultural enterprises to be launched

The corresponding decree was signed by the President today. In particular, in respect of such organizations, bankruptcy litigation is excluded. Local authorities are authorized to carry out rehabilitation in the pretrial order. Employees can count on the preservation of labor relations even in the case of transfer of the problem farm to rent or trust management. The financial burden of debtors will also become easier. There is a delay of three years, with installments for 5 years. In addition, interest rates on loans can be reduced to 1.5% per annum. The decree is aimed at introducing progressive forms of management of farms, ensuring their effective operation.