RESOLUTION                                           
                                                                                
                 CONCERNING THE ENTRY INTO FORCE                                
                                                                                
               OF THE LAW ON ENTERPRISE BANKRUPTCY                              
                                                                                
                                                                                
                                                                                
     The Supreme Council of the Republic of Lithuania resolves:                 
                                                                                
     1. To  establish that the Law on Enterprise Bankruptcy shall               
enter into force on 15 October 1992.                                            
     2. To  establish that  enterprise bankruptcy proceedings may               
not be  instituted if  the enterprise became insolvent due to the               
disruption   of mutual settlements between enterprises through no               
fault  of  the  enterprise,  and  if  the  enterprise's  accounts               
receivable exceed its  short-term accounts payable.                             
     3. To commission the Government of the Republic of Lithuania               
to adopt   directives  by 31  December 1992,  and to submit draft               
laws and  amendments  to directives related to the enforcement of               
this Law to the Supreme  Council of the Republic of Lithuania.                  
                                                                                
                                                                                
VYTAUTAS LANDSBERGIS                                                            
                                                                                
President                                                                       
Supreme Council                                                                 
Republic of Lithuania                                                           
                                                                                
                                                                                
Vilnius                                                                         
15 September 1992                                                               
No. I-2881                                                                      
                                                                                
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