Abstract

Societies face many challenges during their existence. These challenges can be internal, such as poor management, liquidity problems, etc., or external, such as changes in market trends, wars, pandemics, regulations that limit or challenge the industry in which the business operates, the growth of competition or macroeconomic difficulties (ie currency devaluation), etc. Sometimes, some of the above-mentioned situations can put a company in financial troubles. When financial or economic difficulties affect a debtor and e place him in the situation of insolvency, the debtor himself or his creditors may refer to the official bankruptcy court procedures, regulated by the Law on Bankrupt. This article provides an overview of the implementation of the new bankruptcy law and compares it with the old law. In the second part of the particle is made a description of the adjustments made by the new bankruptcy law in favour of the well-functioning of the companies in Albania.