Beside the ongoing debates regarding the Extraordinary Administration Proceedings (EAP), which was a tailormade framework to manage the restructuring of Agrokor, market trends show a drop in numbers in both pre-insolvency and insolvency cases. This downward trend originates in the 2015 restructuring and insolvency reform that over-formalised the pre-insolvency process and discouraged debtors from using it. The reform also introduced summary insolvency proceedings for small businesses that are opened and concluded simultaneously if there are no assets available for distribution nor any employees.
Over recent years, Croatia has been busy wrestling with the restructuring case that emerged when one of its biggest companies, Agrokor, face…
Read the full article at: https://www.iflr.com/article/b1nf2jy6yg8rr6/corporate-insolvency-amp-restructuring-report-2020-covid19-special-focus-croatia
