Insolvency proceedings in Albania can either reorganize a business or liquidate its assets to pay off debts. The process is overseen by a court, which can start the proceedings at the request of the debtor or creditor. New laws allow for out-of-court insolvency proceedings. A reorganization plan can be submitted by an administrator, supervisor, or majority of creditors. The debtor can also propose a reorganization plan. Contracts not fully completed by the debtor are not affected by insolvency. Claims for damages are treated as unsecured debts. Contracts cannot be terminated solely because of insolvency.