Editorial | Restructuring Directive  

Editorial | CEE

Reasoning behind the changes

In the two years that the "new" bankruptcy regime – the Bankruptcy Act of September 2015 (Stečajni zakon; the "BA") – has been in place, the number of pre-bankruptcy procedures initiated in Croatia has plummeted to only 273, with 58 restructuring plans being accepted. By comparison, under the previous pre-bankruptcy regime from 2012 to 2015, 8,262 pre-bankruptcy procedures were initiated, with 2,224 restructuring plans being reached.

Showtime and Top Rank Slug It out over "Fight of the Century"

Who said boxing was dead?

Fight fans still bitter over the May 2015 Floyd Mayweather–Manny Pacquiao bout that was far more mega-bore than mega-brawl may at long last get the slugfest they have been waiting for. A couple of small caveats: Mayweather has ceded the spotlight to his home television network, Pacquiao to his promotion company, and the boxing ring to a courtroom.

The recently adopted Croatian Bankruptcy Act ("SZ")[1] sets out a new integrated pre-bankruptcy and bankruptcy regime. SZ has entirely replaced the previous bankruptcy act that was in force for 18 years, as well as provisions regulating pre-bankruptcy settlement proceedings prescribed under the Act on Financial Operations and Pre-bankruptcy Settlement

The judge presiding over the bankruptcy proceeding of the operator of a Web site and magazine aimed at gay teens has approved a settlement allowing the destruction of personal information of users rather than a sale to creditors as part of the bankruptcy estate. The court approved the settlement after the Federal Trade Commission raised objections to the sale, citing the Web site sign-up confirmation page, which stated that "[w]e never give your info to anybody," and a similar statement directed to subscribers of an associated print magazine.