From March 1 a law on a natural person’s bankruptcy will come into force, reports ELTA. Currently, laws in Lithuania do not provide for the bankruptcy of an insolvent individual and the time for the recovery of assets was unlimited. The new law will allow going bankrupt only for honest natural persons. If it turns out that a bankrupt person acted fraudulently, the natural person’s bankruptcy process will be canceled with the possibility of going bankrupt again allowable only after 10 years. The law on natural person’s bankruptcy will be applied only to those persons whose permanent residence is in Lithuania. The process can be initiated only by the person when he or she cannot meet his or her liabilities that exceed 25,000 litas (7,200 euros).
Next Monday Minister of Education and Science Dainius Pavalkis will go to Poland where he will meet with the Lithuanian community and discuss funding issues of Lithuanian schools in Poland, reports ELTA. “I have to meet with parents, and with Lithuanian communities, organizations. I have to see how everything looks at the site,” said Pavalkis on March 4. Shortly after the visit, the minister plans to meet with Poland’s Minister of Education Krystyna Szumilas. “It will probably be a preparatory meeting with Poland’s Minister of Education,” said Pavalkis, adding that it is hard to tell whether Poland will increase funding to Lithuanian schools. Lithuanian Prime Minister Algirdas Butkevicius does not think that the issue of Lithuanian schools’ future is political. “Such issues must be resolved professionally at the discussion table,” says the head of state. The PM believes that if Poland increased funding, it would help to preserve Lithuania’s schools.