Market cleaning might result with some 46,000 bankruptcies

Posted on January 31, 2012


Due to the long-term insolvency issues that burden almost one in three business in Croatia, commercial courts are getting ready for a wave of bankruptcies in liquidations in 2012. The cleaning of the market from companies that meet the conditions for elimination will be done in several groups.

About 5,000 companies do not even have a business account. Also, some 14,000 companies that meet the terms for deletion based on the Court Registry Act will also be deleted. After that, several dozen thousands short bankruptcy proceedings will be launched in insolvent companies that have little or no assets. In worst case scenario, the market cleaning could result with up to 46,000 bankruptcies in 2012.
(, Poslovni dnevnik)

28.12.2011 | Author/Source PressCut