About this Presentation
The Guaranty Fund at the Department of Enterprise Bankruptcy Management under the Lithuanian Ministry of Economy was created in order to ensure payments of delayed or unpaid salaries to the workers of bankrupt companies. Therefore this Fund plays a very important social role – quite often after a person loses his job. The Fund pays money which the company owed to this person. So it is very important to ensure the application processing time to be as fast as possible. At the beginning of 2009 Guaranty Fund faced some real challenges including a backlog of old applications for funds and long processing times; a drastic increase in bankruptcies and new applications (more than double); and a reduction of governmental spending (not possible to increase in staff).
What Will You Learn
To help you get the most value from this session, we’ve highlighted a few key points. These takeaways capture the main ideas and practical insights from the presentation, making it easier for you to review, reflect, and apply what you’ve learned.
Instructor(s)
