The disadvantages and ambiguous interpretations that have frequently occurred in the implementation of the pre-bankruptcy settlement procedures preventing the achievement of the primary goal of the Financial Operations and Pre-Bankruptcy Settlement Act (“the Act”) - the establishment of liquidity and solvency of business entities – have provoked a need for detailed amendments to the Act. The second amendments to the Act which were published in the Official Gazette No.

Introduction
Accepted defensive framework
Novelty with regard to time limitation
Other remedies

Introduction

1. Introduction

The system of claim enforcement in Croatia is primarily regulated by two core laws: (i) Enforcement Act (Official Gazette No. 112/2012 and 25/2013) determining procedure of mandatory enforcement of claims including the procedure of voluntary security of claims; and (ii) the Act on Enforcement of Financial Assets (Official Gazette No. 112/2012) providing legal framework for the enforcement of claims against financial assets.

Restructurings, especially those involving multiple jurisdictions, are invariably complex matters. This CMS Expert Guide provides an overview of the various restructuring possibilities available in a large number of countries, allowing you to compare how the options are deployed in these jurisdictions.

We intend to update it periodically to reflect important changes as they happen.

If you need more information or have any questions, please do not hesitate to contact us.