In reality, the law on the bankruptcy has never been implemented in Albania and according to
statistics there have been no bankruptcy procedures so far. The recent amendments aim to facilitate the
implementation of the law. The main amendments include reducing the time frame of a business reporting
loss to two years, are insolvent since two years and have a passive status in the NRC. Also the courts will
act more promptly in dealing with bankruptcy cases as they will have to consider the case within 30 days.