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Economic and Legal Analysis of the Supreme Court's President Report Regarding Bankruptcy Cases: Starting Theses

Since we live in times of rapid social changes in all spheres of human activity, the alleged purpose of which is to create better living conditions, it is extremely important for economic and legal science and practice to provide adequate explanations on the interpretation of the legal norm, the development of certain branches of law, and the interpretation of the existing economic environment. Statistical data for the purposes of this analysis are numerical indicators of the volume of work of the courts in the field of bankruptcy proceedings in a period of one year, based on official data from the Supreme Court of the Republic of Croatia. It must be acknowledged, however, that the statistics now available generally show only half the truththey tell us about the number and types of submissions, but they tell us nothing about the failure of reorganization negotiations, the impact of insolvency on third parties or communities, or the long-term success or failure of bankruptcy, pre- bankruptcy or consumer bankruptcy plans. Moreover, the statistics do not reveal what is most important: how completed pre-bankruptcy settlements, bankruptcy plans, and consumer bankruptcy plans work in practice, specifically, whether the debtor has properly fulfilled assumed obligations to creditors and, if assumed obligations have not been fulfilled, whether liquidation bankruptcy or foreclosure proceedings have been initiated as a last resort, with no chance of a fresh start. Although the statistics of the entire Report of the President of the Supreme Court on the state of the judiciary for 2020 suggest an improvement in the quality of court work, this research assumes that the analysis of only quantitative indicators of judicial institutions cannot provide a complete picture of the quality of judiciary and that there is room for the functionalization of bankruptcy legal protection. Accordingly, the aim is to propose certain activities that will result in appropriate changes in practice and regulations where it is necessary.

Bankruptcy cases, Directions of reform, Report, Statistics, Supreme Court, 2020

This work was funded within the project line ZIP UNIRI University of Rijeka, for the project ZIP-UNlRl- 130-7- 20