CHALLENGES OF THE NEW INSOLVENCY ACT

CHALLENGES OF THE NEW INSOLVENCY
ACT – CLOSING GAPS OR OPENING LOOPHOLES?

Authors:

Igor Benaković, MA
Sandra Cindrić, LLB
Michael Cullinane, MBA
Slaven Ćurić, BSc
Jelena Čuveljak, PhD
Hrvoje Draksler, MBA
Renata Duka, LLB
Beata Glinska, LLM
Tonka Gjoić, LLB
Darija Hikec, BSc
Mićo Ljubenko, LLM
Nevenka Marković, LLB
Mirna Marović, MBA
Mario Vukelić, LLB, BA

TMA Croatia’s first project is
the publication of this book, Challenges of the New Insolvency Act – Closing
Gaps or Openign Loopholes?, in which Mirna Marović, the volume’s editor and TMA
Croatia first vice president, has pooled prominent insolvency experts,
including judges, lawyers, consultants, economists and public service experts
in the field. The intention behind the present text is that it will form an
up-to-date account of themes, developments and perspectives relating to the new
Insolvency Act.

Aimed at a practitioner audience,
this collection of papers delivers cutting edge material. The timing of the
book – to be issued on the day that the Insolvency Act comes into force – aims
to provide timely notice to the target audience.

Papers in this book present both
procedural and substantive matters relating to the Insolvency Act. However, the
objective of the book is to go beyond an appraisal of the new law. This book
also hopes to address and emphasise the development of the law where the
articulation contains loopholes. Thus, the contribution of this book is to
point out where features of the Insolvency Act are optimally designed, and
which ones could benefit from improvement.

Table of contents:

1. Are the new pre-insolvency
   and insolvency proceedings “new” enough?
2. Pre-insolvency proceedings
   according to the new insolvency act
3. The return of the
   reorganisation plan – a false hope or a lifeline
4. The potential abuse of
   insolvency rules by the debtor, the creditors and third parties
5. Insolvency estate
   liquidation
6. The banker’s perspective:
   some of the open-ended questions in the new insolvency act debtor
7. Operations during
   pre-bankruptcy proceedings – enabling the continuation of operations
8. The economic consequences
   of the new insolvency act
9. Central and eastern europe
   – insolvency and restructuring overview
10. What the new insolvency
    act means for entrepreneurs and its impact on operational restructuring
11. Operational restructuring
    in the framework of the new insolvency act
12. The use and availability
    of financing in insolvency
13. The role of fina under the
    new insolvency act and the impact of decisions in pre-bankruptcy and
    insolvency proceedings on the process of enforcement against the funds of
    the enforcement debtor