On Thursday, the Seimas adopted amendments to the Personal Insolvency Law providing for this: 94 members of the Seimas voted in favor, and two abstained – liberal Vitalijus Gailius and social democrat Julius Sabatauskas.
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The amendments abandoned the minimum debt threshold – 25 minimum wages (about 26 thousand euros) required to apply to the court for bankruptcy. Insolvency will be determined based on the actual financial situation of the person.
