CEU Electronic Theses and Dissertations, 2018
| Author | Maslo, Armin |
|---|---|
| Title | Debt Restructuring and Bankruptcy in Bosnia and Herzegovina, Croatia and the United States: Comparative Study |
| Summary | As a large number of business bankruptcies end with liquidation, the number of business entities deleted from registries in Bosnia and Herzegovina is not only an alarming economic but also a social and legal problem. Namely, liquidations resulted in thousands of employees left jobless, assets accumulated over many years being sold off for a fraction of their former value and, for owners, a permanent loss of credibility and business reputation. Such loss of credibility and reputation ultimately stems from the impact of a so-called ‘bankruptcy stigma,’ in Bosnia and Herzegovina, where it is common to equate insolvency proceedings and debt restructuring with liquidation, it is viewed as the end of for a business, rather than an opportunity for a second chance. The thesis will include some proposals on how a business culture favoring out-of-court workouts and pre-bankruptcy reorganization plans could be domesticated. With this agenda in mind, on the one hand, the focus will be on the nature, typology and identification of key legal problems corollary to out-of-court workout agreements. Taking a comparative legal approach, some possibilities, potential challenges and benefits of the introduction of out-of-court workouts and pre-bankruptcy reorganization plans into B&H bankruptcy law will be analyzed. The United States’ experience is of particular interest in this regard, because of its long and tested history of out-of-court workouts. Furthermore, the Republic of Croatia is also of interest in this context, having previously introduced pre-bankruptcy procedures as a form of fast-tracked restructuring, which may provide insight for current attempts at bankruptcy reform in Bosnia and Herzegovina. |
| Supervisor | Tajti, Tibor |
| Department | Legal Studies LLM |
| Full text | https://www.etd.ceu.edu/2018/maslo_armin.pdf |
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