CEU Electronic Theses and Dissertations, 2017
| Author | Muftic, Nasir |
|---|---|
| Title | Cramdown in Chapter 11 of the US Bankruptcy Law: Lessons for Bosnia and Herzegovina |
| Summary | Cramdown or nonconsensual confirmation of reorganization plan is not a novelty for many bankruptcy laws in the world. As being a powerful tool of implementing the fresh start philosophy, cramdown is a complex legal device bearing various possibilities. Many jurisdictions having it, however, are not familiar with its application. Another common point between many of them is the low number of reorganizations. This thesis tends to examine whether the two are in correlation by comparing the US and Bosnia and Herzegovina. Due to the lack of experience with the application of cramdown which is a part of its bankruptcy laws, Bosnia and Herzegovina faces uncertainties. As the legal system with the longest tradition of fresh-start-oriented bankruptcy law and the system where the cramdown was invented, the United States is a jurisdiction to look upon in order to clear many of them. This thesis first analyzes different philosophies of reorganizations in Chapter 11 of the US Bankruptcy Code and bankruptcy laws of Bosnia and Herzegovina. After juxtaposing the main steps of reorganization proceedings in both jurisdictions, the thesis focuses on the experiences related to the application of cramdown in Chapter 11. The findings of this thesis endeavor to be valuable for Bosnia and Herzegovina's developing bankruptcy law, as the following findings are applicable beyond just cramdown They indicate that the legal framework of bankruptcy laws of Bosnia and Herzegovina is not only non-fresh-start oriented but that it also disrupts interests of creditors in bankruptcy proceedings. |
| Supervisor | Tajti, Tibor |
| Department | Legal Studies LLM |
| Full text | https://www.etd.ceu.edu/2017/muftic_nasir.pdf |
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