ABSTRACT
This chapter focusses on the discharge of debt procedure of insolvent entrepreneurs. Both natural persons and companies can become insolvent, and this is often the case for individuals engaged in independent business activities (entrepreneurs). The discharge of debt procedure is designed to address insolvency issues faced by entrepreneurs and to provide a fresh start. This chapter explains that the Restructuring Directive harmonises only some aspects of the discharge procedure, such as access, duration of this procedure and disqualification. Discharge procedure still remains mostly regulated by national insolvency laws. This chapter also demonstrates that the primary objective of the discharge procedure is to provide a fresh start for entrepreneurs, allowing them to reintegrate into business and giving them a second chance to start their entrepreneurial activities anew.
