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Garasic, Jasnica --- "CROATIA" [2019] ELECD 1197; in Kadner Graziano, Thomas; Bojars, Juris; Sajadova, Veronika (eds), "A Guide to Consumer Insolvency Proceedings in Europe" (Edward Elgar Publishing, 2019) 198

Book Title: A Guide to Consumer Insolvency Proceedings in Europe

Editor(s): Kadner Graziano, Thomas; Bojārs, Juris; Sajadova, Veronika

Publisher: Edward Elgar Publishing

Section: Chapter 6

Section Title: CROATIA

Author(s): Garašić, Jasnica

Number of pages: 46

Abstract/Description:

The Croatian legislator took the decision to draft a special Consumer Bankruptcy Act (hereinafter referred to as ‘CBA’) in 2015, which entered into force on 1st January 2016. The goal of this Act was to allow an honest consumer to be discharged of all obligations remaining after his or her assets had been liquidated and after the obtained proceeds had been distributed to his or her creditors. The basic rules of this Act are presented in this chapter. Croatian consumer bankruptcy proceedings are similar to German consumer insolvency proceedings in many aspects. The Croatian legislator in 2015 also adopted a new Bankruptcy Act introducing pre-bankruptcy proceedings, in accordance with the European Commission Recommendation of 12th March 2014 on a new approach to business failure and insolvency. The rules of the new Bankruptcy Act shall accordingly be applied during the course of consumer bankruptcy proceedings unless provided otherwise by the Consumer Bankruptcy Act.