ZAGREB, Jan 25 (Hina) - Over the coming month the Croatian government is set to consider a law on the transformation of the Croatian Privatisation Fund (HFP) and a bankruptcy bill.
ZAGREB, Jan 25 (Hina) - Over the coming month the Croatian
government is set to consider a law on the transformation of the
Croatian Privatisation Fund (HFP) and a bankruptcy bill. #L#
The concept of privatisation and HFP's transformation have been the
subject of talks among the ruling coalition's five parties for some
time. A proposal to transform the HFP surfaced in the middle of last
year, when it was announced it would be organised as an agency or a
fund which would manage the state portfolio and privatisation.
Having been endorsed by the five ruling parties, the HFP
transformation project will finally be on the government's
agenda.
The government should also tackle the draft of a new bankruptcy act
which should resolve the issue of managing claims in bankruptcy
proceedings. The bill intends to urge creditors to make key
decisions on the fate of the debtor relatively quickly -- whether it
will continue operating, be liquidated with property to go on sale,
reorganised or rehabilitated.
Experience has shown that Croatian creditors have not been able to
agree on this matter. In the future, unless they do it within the set
deadline, the judiciary would initiate liquidation.
(hina) ha