ZAGREB, May 20 (Hina) - The Croatian parliament on Tuesday debated government-sponsored amendments to the Bankruptcy Act aimed at simplifying and stepping up bankruptcy proceedings, making it more efficient. The amendments also
envisage time frames for decisions and the implementation of the process.
ZAGREB, May 20 (Hina) - The Croatian parliament on Tuesday debated
government-sponsored amendments to the Bankruptcy Act aimed at
simplifying and stepping up bankruptcy proceedings, making it more
efficient. The amendments also envisage time frames for decisions
and the implementation of the process. #L#
Deputy Justice Minister Miljenko Kovac told MPs the amendments
suggested abandoning the institution of bankruptcy council and
entrusting a bankruptcy judge with all tasks.
Only an attorney or a member of a public company entered into the
court registry as a bankruptcy administration service can be
appointed as trustee in bankruptcy.
The government's draft amendments did not meet with the support
from opposition party benches, while ruling coalition parties
endorsed it in the first reading, but with much criticism.
Both opposition and ruling parties were against attorneys being
trustees, considering their questionable expertise in finances.
The Democratic Centre (DC) party and Social Liberals (HSLS) believe
that bankruptcy councils should not be abolished, since they did
not slow down the course of bankruptcy proceedings.
The HSLS, as well as the Libra, believe that trustees in bankruptcy
so far have collected experience in carrying out bankruptcy
proceedings and that attorneys could not replace them well.
MPs also heard a suggestion that specialised companies should
perform the task of a trustee in bankruptcy, especially in
proceedings concerning a large bankruptcy estate and a large number
of employees.
(hina) lml sb