engleski

Draft of the Croatian consumer bankruptcy act: legal protection instrument for over-indebted consumers or prolongation of the status quo?

In the course of enacting new acts, questions concerning which practices should be followed are constantly reemerging in former socialist countries. Should the lawmakers follow the traditional European-continental models, should they be driven by the Anglo- American principles, or should they perhaps combine the most effective aspects of both legal traditions? In this context, lawmakers should regulate the institute of consumer bankruptcy as a sub-domain of bankruptcy, given that it is the most pertinent subject of interest in both legal theory and practice. In comparative legal practice there is a large amount of compromising in temporary solutions, aimed at striking the right balance in the dispersion of risk between the debtor and the creditor. Research in consumer bankruptcy within a number of legal systems has shown that there are multiple “models” regarding the organization of consumer bankruptcy. That being said, it is a historical certainty that German insolvency legislation has had the largest impact on Croatian bankruptcy legislation. Furthermore, the Draft of the Croatian Consumer Bankruptcy Act of 2014 is based on the German consumer bankruptcy legislation envisaged in the Insolvency Statute (Insolvenzordnung). The purpose of this paper is to provide an insight into the Draft of the Croatian Consumer Bankruptcy Act and, simultaneously, to analyze whether or not the legislators used the most effective practices to achieve an optimal solution.

consumer bankruptcy ; Draft Consumer Bankruptcy Act ; Croatia

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