BRIPA was founded on November 2, 2018. The founders are experienced insolvency practitioners, who were main contributors to insolvency system reform in Georgia and a co-author of the new draft law on Rehabilitation and Collective Satisfaction of Creditors.

The insolvency system is important for developing the Georgian economy and guarantees an investor-friendly environment. Fast and effective insolvency procedures ensure saving going concerns and increase the creditors’ recovery rate. The key part of the reform is to create and strengthen insolvency practitioners’ profession, what BRIPA is for.