engleski

National Report for Croatia

The National Report for Croatia in this book analyses the rules on executory contracts that are applicable in pre-bankruptcy and bankruptcy proceedings. It explains general treatment of executory contracts in Croatian bankruptcy proceedings and situations in which a bankruptcy administrator (trustee) is entitled to assume or reject an executory contract. It also presents legal effects of the opening of bankruptcy proceedings on certain types of contracts such as fix date transactions, financial contracts, sale, hire-purchase and finance lease contracts, operational lease and rental contracts, employment contracts, agency contracts and management contracts. Croatian law does not have explicit rules on permissibility of acceleration and terminations clauses in executory contracts. The Report expresses opinion that such clauses in the case of opening of bankruptcy proceedings would be, generally speaking, according to the Croatian law null and void. Croatia has a good general framework of rules on treatment of the executory contracts in the bankruptcy proceedings. Statutory improvements are desirable in the area of the pre- bankruptcy proceedings. Statutory improvements are also desirable with reference to the treatment of the pre-insolvency agreed contractual remedies, in order to enhance legal predictability and certainty. Completely new rules are necessary regarding insolvency of a group of interconnected (related) companies, including the rules that would regulate executory contracts in such a situation.

executory contracts in bankruptcy proceedings ; pre-bankruptcy proceedings ; acceleration clause in an executory contract in bankruptcy proceedings ; termination clause in an executory contract in bankruptcy proceedings ; insolvency of a group of interconnected (related) companies

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