Utilization of Electronic Systems for the Registration and Reporting of Receivers and Administrators

In a bid to improve the quality of the registration and reporting of receivers and administrators through the utilization of electronic systems, the Minister of Law and Human Rights (“ Minister ”) has issued Regulation on Requirements and Procedures for the Registration and Reporting of Receivers and Administrators (“ Regulation 37/2018 ”). [1] In essence, Regulation 37/2018 encompasses several provisions on the class of bankruptcy professionals commonly known as receivers in relation to bankruptcy cases and administrators in cases which involve suspensions of debt payments. These provisions address the following matters: