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Bankruptcy proceedings : Kosovo legislation comparing to European union
Alba Boshnjaku, 2016, undergraduate thesis

Abstract: The concept of bankruptcy can be traced back to antiquity but its development as a legal institution is considered to have started once debt recovery became directed towards a debtorʼs estate instead of debtorʼs body, and when the procedure of such recovery became a concern of the state authorities instead of personal arbitration, as it was practiced in primitive societies. A well-developed economy is highly dependent on the efficiency of bankruptcy procedures. Unable to meet their financial obligations, insolvent debtors are forced to file for bankruptcy. The bankruptcy procedure will either give the debtor a fresh start through reorganization, or cease its existence by enforcing liquidation measures. Noting the importance of this subject matter as a vital element of domestic and global markets, it is a must for each country to regulate bankruptcy proceedings by adopting an effective legal and institutional framework. This paper provides an in-depth research on legislative and institutional framework of bankruptcy systems implemented both in Kosovo and in European Union. It tends to emphasize the flaws of the former Law on Liquidation and Reorganization of Legal Persons in Kosovo and the desperate need to reform the bankruptcy system through efficient legal means. The level of compliance of Kosovoʼs new Law on Bankruptcy with the European Union Regulation on cross-border insolvency is as well put into perspective.
Keywords: bankruptcy, liquidation, debtor, creditor, Kosovo, European union, bachelor thesis
Published in ReVIS: 16.08.2018; Views: 2950; Downloads: 124
.pdf Full text (513,82 KB)

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