ZAGREB, April 10 (Hina) - The Croatian government on Thursday sent into the first parliamentary reading a bill on changes to the Bankruptcy Law, which is aimed at simplifying and accelerating bankruptcy proceedings.
ZAGREB, April 10 (Hina) - The Croatian government on Thursday sent
into the first parliamentary reading a bill on changes to the
Bankruptcy Law, which is aimed at simplifying and accelerating
bankruptcy proceedings. #L#
Under the bill, duties of bankruptcy courts would be taken over by
judges and bankruptcy proceedings would be accelerated. Creditors
would be given six months at the most to decide whether and how
debtors would continue operating and whether to start drawing up a
bankruptcy plan.
Under the bill, creditors would be able to replace bankruptcy
commissioners if they are not satisfied with their performance.
Only lawyers or employees in public companies dealing with
bankruptcy proceedings would be appointed bankruptcy
commissioners.
This, says Justice Minister Ingrid Anticevic Marinovic, is
important because those persons are insured and answer for a
company's liabilities with their personal and company property.
The government forwarded into the first parliamentary reading a
bill on market competition.
The bill includes changes concerning bodies governing the Agency
for the Protection of Market Competition. One of them, called the
Council, would be replaced by a council for market competition,
which would include professionals.
(hina) rml