Insolvency proceedings

Information updated 16.09.2021.


Due to various circumstances, both natural and legal persons may enter into a situation which prevents a full settlement with partners and other creditors. However, insolvency proceedings are available in order to deal with the problem which arises, by means of which it can be possible to maintain or restore solvency or to terminate its business altogether by settling with creditors as best as possible.


Three types of insolvency proceedings are currently available in Latvia – the insolvency process of a natural person, the insolvency process of a legal person and the legal protection process (including its type - the out-of-court legal protection process).


Related bodies:Ministry of Justice (TM);Ministry of Economy (EM);State Revenue Service (SRS);Insolvency Control Service (MKD);Administration of the Courts (TA);Register of companies (UR);Latvian National Archives (LNA);Office of Citizenship and Migration Affairs (PMLP);National Data Inspectorate (DVI);Latvian State Radio and Television Centre (LVRTC);Bank of Latvia Credit Register


Useful resources:Insolvency register;Insolvency Control Service;;Electronic auction site;Guidelines on “Extraordinary debt restructuring in Latvia”.Guidelines "How to solve business debt problems successfully".


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1. Insolvency proceedings of a natural person 1. Insolvency proceedings of a natural person
2. Insolvency proceedings of a legal person 2. Insolvency proceedings of a legal person
3. Legal protection process 3. Legal protection process
4. Other solutions 4. Other solutions