ZAGREB, Feb 2 (Hina) - Croatian government adopted the Bill on bankruptcy on Friday and forwarded it to the Sabor (parliament) for the first reading procedure. The government also supported the report by its officials with the U.N.
Transitional Administration and the Office for transitional administration for establishment of Croatian authority in the eastern Slavonia, Baranja and western Syrmium area.
ZAGREB, Feb 2 (Hina) - Croatian government adopted the Bill on
bankruptcy on Friday and forwarded it to the Sabor (parliament) for
the first reading procedure.
The government also supported the report by its officials with
the U.N. Transitional Administration and the Office for
transitional administration for establishment of Croatian authority
in the eastern Slavonia, Baranja and western Syrmium area. #L#
The Bill on bankruptcy suggested that the bankruptcy
proceedings be launched only by proposition of an authorized person
-- creditor and debtor. The cause of bankruptcy, besides
insolvency, might also be overindebtedness.
The Bill proposed establishment of the assembly of creditors
which would be authorized for all major decisions in the
proceedings. Also proposed was that the board of creditors'
authority be extended from advisory to supervisory, Minister of
Justice Miroslav Separovic said.
Prime Minister Zlatko Matesa expressed his gratitude to
outgoing Transportation and Communication Minister Ivica Mudrinic
for his contribution to the development of telecommunication
infrastructure in Croatia, wishing him success on his new post,
director of Croatian Radio and Television.
(Hina) jn bk
021526 MET feb 96