The Croatian Chamber of Commerce (HGK) holds that the stay of proceedings in pre-bankruptcy settlements for troubled companies might produce negative consequences for the entire economy and pave the way to a serious legal insecurity jeopardising jobs of tens of thousands workers, according to a press release this association issued on Friday.
The HGK calls for immediate response to the latest developments after a Commercial Court judge recently decided to suspend the pre-bankrutcy proceedings for the settlement of debts of the Dalekovod company until the Constitutional Court gave its opinion on the constitutionality of the relevant legislation.
The HGK said that deliberation about legal term and formulations should not bring into question the positive intentions of the Financial Operations and Pre-Bankruptcy Settlement Act and of the efforts taken so far in that direction by companies and competent state agencies.
The association recalls that it supported the adoption of the said law deeming it necessary for the financial consolidation of a series of ailing companies.
