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Insolvency Law in South East Europe

Published by: Blue Ibex Ltd.

Published: Nov. 21, 2008 - 50 Pages


Table of Contents


About the Contributors

1. Albania

Introduction

Conditions of insolvency

Bankruptcy Court

Participants

Cross-border bankruptcy

Ranking of creditors

Alternatives to bankruptcy for the debtor

Bankruptcy consequences

2. Bosnia and Herzegovina

Introduction

Insolvency proceedings

Participants

Creditor priority

Legal effects of insolvency proceedings

Challenging the legal actions of the debtor

Termination of proceedings

Reorganization plan

Exclusive international jurisdiction

Punitive provisions

3. Bulgaria

Insolvency triggers

Participants

Commencement of proceedings

Effects of insolvency proceedings

Exits

Personal consequences of insolvency

4. Croatia

Introduction

Bankruptcy applicationProcedure

Creditor ranking

Special creditors’ rights

Special insolvency treatment

5. FYR Macedonia

Introduction

Launching proceedings

Participants

Rights and responsibilities of creditors

Reorganization

The Bankruptcy Law in practice

6. Montenegro

Legal framework

Law on Business Organization Insolvency

Liquidation

Participating bodies

Priority ranking of claims

Reorganization

Insolvency of special types of organizations

7. Romania

Initiating proceedings

Effect of opening proceedings

Reorganization

Bankruptcy

Close of proceedings

Liability of the members of the management bodies

8. Serbia

Introduction

Legal framework

Reorganization

Bankruptcy and liquidation of banks and insurance companies

9. Turkey

Introduction

Sources of insolvency law

Persons subject to bankruptcy

Participants

Bankruptcy proceedings

Postponement of bankruptcy for stock companies

Consequences of bankruptcy

Discharge of bankruptcy

Liquidation procedure

The closure of bankruptcy

Appendix

Abstract

This authoritative report looks at and compares the insolvency regulations as they apply to business owners, investors and creditors in Albania, Bosnia & Herzegovina, Bulgaria, Croatia, FYR Macedonia, Montenegro, Romania, Serbia and Turkey. Aimed at international companies and their professional advisers, this unique guide explains the legal process of reorganizing, winding-up and liquidating business in nine countries of South East Europe.

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