In recent years, Latvia has demonstrated tangible progress in strengthening its insolvency framework, driven by a strategic focus on procedural efficiency, transparency, and creditor rights protection. Key efficiency indicators in 2024 reflect structural improvements, including reduced resolution time, lower insolvency-related costs, and higher recovery rates for creditors. Sharp decline in insolvency process costs – 75% reduction since 2016 The cost of resolving insolvency has significantly reduced—from € 1.46 per euro recovered in 2016 to just € 0.37 in 2024. This marks a 75% decrease, largely driven by lower administrative expenses and improved procedural streamlining. These results were driven in large part by the Insolvency Control…