Review article

Procedure and Practice of Bankruptcy Restructuring in the Republic of Croatia

Domagoj Sajter

Abstract

Bankruptcy restructuring (or “insolvency plan”, as stipulated in Croatian Bankruptcy law) is a type of insolvency procedure which does not result in the death of the legal person, but in the survival and continuance of the debtor’s business. As such, this kind of procedure has certain economical priority over bankruptcy liquidation. Yet, in Croatia this procedure is conducted rarely, and complicated system of voting and accepting an “insolvency plan” is mostly responsible for this.
This paper presents analyzes the procedure of bankruptcy restructuring in the Republic of Croatia, frequency of this procedure in practice, and arguments against usage of the term “insolvency plan”.

Keywords

bankruptcy; restructuring; reorganization; insolvency

Hrčak ID:

59765

URI

https://hrcak.srce.hr/59765

Publication date:

20.10.2010.

Article data in other languages: croatian

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