ZAGREB, Oct 12 (Hina) - Bankruptcy must not be exploited by those going bankrupt, but must be of use to creditors and employees, Croatian European Iintegrations Minister, Ljerka Mintas-Hodak, said in Zagreb on Tuesday after talks with
World bank representatives. Hodak told reporters that world Bank representatives were in Croatia two weeks and were working on a section of the justice system reform. It is a project of technical assistance in the reform of commercial courts, especially in bankruptcy proceedings, Hodak said. The project does not only envisage the training of judges and trustees in bankruptcy, but also raising the awareness of creditors about the significance of bankruptcy. The World Bank is prepared to grant a US$5 million loan to Croatia for the implementation of the project.(hina) lml jn
ZAGREB, Oct 12 (Hina) - Bankruptcy must not be exploited by those
going bankrupt, but must be of use to creditors and employees,
Croatian European Iintegrations Minister, Ljerka Mintas-Hodak,
said in Zagreb on Tuesday after talks with World bank
representatives.
Hodak told reporters that world Bank representatives were in
Croatia two weeks and were working on a section of the justice
system reform.
It is a project of technical assistance in the reform of commercial
courts, especially in bankruptcy proceedings, Hodak said.
The project does not only envisage the training of judges and
trustees in bankruptcy, but also raising the awareness of creditors
about the significance of bankruptcy.
The World Bank is prepared to grant a US$5 million loan to Croatia
for the implementation of the project.
(hina) lml jn