ZAGREB, Dec 12 (Hina) - The Croatian parliament's House of Counties on Tuesday endorsed amendments to the law on banks, in line with which banks undergoing successful bankruptcy proceedings would not be treated as new banks. The
government disagreed with the amendments moved by Vilim Herman of the Croatian Social Liberal Party (HSLS). In Herman's opinion, in is illogical that a financially restructured bank be treated as a new bank, because the bank has its clients and institutions relying on it. According to the current law, banks undergoing bankruptcy proceedings need to wait three years to be able to start business activities. Herman finds this illogical. The Croatian Democratic Union parliamentary bench, which holds the majority in the Upper House, supported Herman's motion. The House of Counties continued its 50th session by a discussion on a government's motion on amendments to the law on the St
ZAGREB, Dec 12 (Hina) - The Croatian parliament's House of Counties
on Tuesday endorsed amendments to the law on banks, in line with
which banks undergoing successful bankruptcy proceedings would not
be treated as new banks.
The government disagreed with the amendments moved by Vilim Herman
of the Croatian Social Liberal Party (HSLS).
In Herman's opinion, in is illogical that a financially
restructured bank be treated as a new bank, because the bank has its
clients and institutions relying on it. According to the current
law, banks undergoing bankruptcy proceedings need to wait three
years to be able to start business activities. Herman finds this
illogical.
The Croatian Democratic Union parliamentary bench, which holds the
majority in the Upper House, supported Herman's motion.
The House of Counties continued its 50th session by a discussion on
a government's motion on amendments to the law on the State Judicial
Council.
In accordance with the agenda, representatives should voice their
opinions on another 10 items.
(hina) it