Court practice in pre-bankruptcy proceedings plays a key role in shaping the way proceedings are conducted and resolved. In Croatia, courts often face challenges in interpreting statutory provisions related to pre-bankruptcy proceedings, especially when it comes to validation of the restructuring plan and creditor voting.
One significant example of court practice concerns the acceptance of a restructuring plan that does not satisfy all creditors, but secures the long-term viability of the company. In such situations, courts often apply the principle of "economic benefit", favouring solutions that preserve jobs and business stability.
Court practice also emphasises the importance of transparency in preparing the restructuring plan. Any inconsistency between the plan and the company's actual financial condition can lead to dismissal of the procedure. This is why expert preparation of documentation and legal advisory support are crucial - both of which Maneo provides to its clients.
Monitoring court practice is important for adapting strategies and avoiding potential legal obstacles. By regularly following new decisions, our team remains one step ahead and provides clients with support based on the latest legal standards.