“The quality of the insolvency system affects not only the private sector, but also the public sector, as the state budget loses the funds that are not recovered in business insolvency cases. Therefore, a properly functioning system is crucial for national economic development and sustainability; its quality affects the development of the business environment, as well as the appeal of the state for investors,” Inese Lībiņa-Egnere, Deputy Speaker of the Saeima, said in her opening address at a discussion on the rule of law in insolvency proceedings and bailouts, hosted by the Saeima on Friday, 3 June.