Review article
https://doi.org/10.30925/zpfsr.43.3.19
CONCERNING THE DRAFT BANKRUPTCY LAW: SHOULD MERGERS BE PREVENTED ON THE “THRESHOLD OF BANKRUPTCY”
Dejan Bodul
; University of Rijeka, Faculty of Law, Rijeka, Croatia
Abstract
In modern democracies, entrepreneurial and market freedom, i.e. the market, the
market economy, are considered the foundation of the economic structure, but also as
a human right and a fundamental freedom that enjoys constitutional protection. Yet
empirical analysis as well as doctrine confirm that there is no economic system, not
even a market, which is not in one way or another, more or less regulated. They also
point out that market conditions significantly affect the realization and development
of entrepreneurship. Therefore, it is not a real question whether the role of the state
in regulating entrepreneurship is necessary. The real question is when, where and
how in the legal-economic sphere the state should direct and regulate entrepreneurial
movements and development and when its direct engagement is needed. Starting from
the thesis that the state cannot be completely based on the principle of laissez-faire,
because the legislator must be able to correct the undesirable effects of the market
economy mechanism, we ask the question - Should the merger of a company with
a bankruptcy reason or if bankruptcy proceedings have been initiated be prevented?
The intention is to use to point out the systemic gap that poses a risk, regardless of the
existing and largely high-quality mechanisms that exist to prevent abuse.
Keywords
company; bankruptcy reason; merger; legislative change
Hrčak ID:
287862
URI
Publication date:
20.12.2022.
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