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https://doi.org/10.30925/zpfsr.39.4.1

THE PREVENTIVE RESTRUCTURING OF COMPANIES IN DIFFICULTIES – ONE-SIZE-FITS-ALL OR TAILOR MADE SOLUTIONS?

Edita Čulinović-Herc   ORCID icon orcid.org/0000-0002-6177-8057 ; University of Rijeka, Law Faculty, Rijeka, Croatia
Antonija Zubović   ORCID icon orcid.org/0000-0001-8238-3495 ; University of Rijeka, Law Faculty, Rijeka, Croatia
Mihaela Braut Filipović   ORCID icon orcid.org/0000-0002-2476-545X ; University of Rijeka, Law Faculty, Rijeka, Croatia

Puni tekst: engleski, pdf (505 KB) str. 1447-1475 preuzimanja: 264* citiraj
APA 6th Edition
Čulinović-Herc, E., Zubović, A. i Braut Filipović, M. (2018). THE PREVENTIVE RESTRUCTURING OF COMPANIES IN DIFFICULTIES – ONE-SIZE-FITS-ALL OR TAILOR MADE SOLUTIONS?. Zbornik Pravnog fakulteta Sveučilišta u Rijeci, 39 (4 Posebni broj), 1447-1475. https://doi.org/10.30925/zpfsr.39.4.1
MLA 8th Edition
Čulinović-Herc, Edita, et al. "THE PREVENTIVE RESTRUCTURING OF COMPANIES IN DIFFICULTIES – ONE-SIZE-FITS-ALL OR TAILOR MADE SOLUTIONS?." Zbornik Pravnog fakulteta Sveučilišta u Rijeci, vol. 39, br. 4 Posebni broj, 2018, str. 1447-1475. https://doi.org/10.30925/zpfsr.39.4.1. Citirano 21.09.2020.
Chicago 17th Edition
Čulinović-Herc, Edita, Antonija Zubović i Mihaela Braut Filipović. "THE PREVENTIVE RESTRUCTURING OF COMPANIES IN DIFFICULTIES – ONE-SIZE-FITS-ALL OR TAILOR MADE SOLUTIONS?." Zbornik Pravnog fakulteta Sveučilišta u Rijeci 39, br. 4 Posebni broj (2018): 1447-1475. https://doi.org/10.30925/zpfsr.39.4.1
Harvard
Čulinović-Herc, E., Zubović, A., i Braut Filipović, M. (2018). 'THE PREVENTIVE RESTRUCTURING OF COMPANIES IN DIFFICULTIES – ONE-SIZE-FITS-ALL OR TAILOR MADE SOLUTIONS?', Zbornik Pravnog fakulteta Sveučilišta u Rijeci, 39(4 Posebni broj), str. 1447-1475. https://doi.org/10.30925/zpfsr.39.4.1
Vancouver
Čulinović-Herc E, Zubović A, Braut Filipović M. THE PREVENTIVE RESTRUCTURING OF COMPANIES IN DIFFICULTIES – ONE-SIZE-FITS-ALL OR TAILOR MADE SOLUTIONS?. Zbornik Pravnog fakulteta Sveučilišta u Rijeci [Internet]. 2018 [pristupljeno 21.09.2020.];39(4 Posebni broj):1447-1475. https://doi.org/10.30925/zpfsr.39.4.1
IEEE
E. Čulinović-Herc, A. Zubović i M. Braut Filipović, "THE PREVENTIVE RESTRUCTURING OF COMPANIES IN DIFFICULTIES – ONE-SIZE-FITS-ALL OR TAILOR MADE SOLUTIONS?", Zbornik Pravnog fakulteta Sveučilišta u Rijeci, vol.39, br. 4 Posebni broj, str. 1447-1475, 2018. [Online]. https://doi.org/10.30925/zpfsr.39.4.1

Sažetak
The Republic of Croatia is facing the biggest restructuring of companies in difficulties with substantial involvement of international financial investors. Restructuring is implemented according to a newly adopted Act on extraordinary administration proceeding in companies of systemic significance for the Republic of Croatia. The latter Act was adopted in the aftermath of the business failure of the major retailer i.e. the Agrokor group. The restructuring of the group has soon become a very sensitive political issue and a topic of heated public discussions. The Act has been heavily criticized both by legal scholarship and by the public for being designed for a single group of companies in Croatia, as well as for being incoherent with constitutional principles and existing insolvency legislation. It created a type of debtor-not-in-possession in-court extraordinary administration designed for systemic significant (group of) companies in state of insolvency or pre-insolvency. Departing from this background, this paper aims to provide a wider restructuring picture by comparing three different legal models of preventive corporate restructurings for firms in difficulties: the German protective shield proceedings, the English schemes of arrangment and the Italian extraordinary administration. The authors attempt to evaluate each
model’s effectiveness on the basis of relevant studies which indicate their success rate. As far as the Croatian Act is concerned, the paper provides an overview of the development of the preventive restructuring law, while questioning certain aspect of the Act, especially the concept of the company of systemic significance.

Ključne riječi
companies’ restructuring; companies in difficulties; extraordinary administration; group of companies restructuring; companies of systemic significance

Projekti
HRZZ / IP / IP-2013-11-9366 / LACAKDCR - Pravni aspekti korporativnih akvizicija i restrukturiranje trgovačkih društava utemeljeno na znanju
UNIRI / 13.08.1.2.01 - “Protection of Beneficiary on the Croatian and European Financial Services Market”

Hrčak ID: 218286

URI
https://hrcak.srce.hr/218286

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