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Parl. expedites bankruptcy proceedings for non-employee companies

ZAGREB, Oct 1 (Hina) - The Croatian parliament on Friday amended the law on bankruptcy procedure with an aim to summarise the proceedings for companies with no employees and blocked accounts.

The expedited bankruptcy procedure will be in place until the end of 2012 for companies with five employees or less which have debts in arrears for longer than 60 days. In such cases the customs administration can initiate the proceedings before the relevant commercial court.

The parliament adopted new legislation on the Judicial Appointment Council (DSV), which appoints judges, and on the Prosecutor Appointment Council (DOV), which appoints state prosecutors.

Also ratified was the Agreement on the Status of the North Atlantic Treaty Organisation, National Representatives and International Staff.

MPs endorsed reports on the work of the Croatian Financial Services Supervisory Agency (HANFA) in 2009 as well as of the Croatian Pension Insurance Institute (HZMO),

The new distraint law and the law on public distraint officers will be discussed in third reading.

The legislation on seizure of unlawfully acquired property as well as draft amendments to law on areas and headquarters of courts were sent to second reading.

The parliament reconvenes next Wednesday.

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