REORGANIZACIJA POSLOVANJA KAO NAČIN REŠAVANJA INSOLVENTNOSTI

Sažetak

A long-term insolvency period usually precedes commencement of bankruptcy
proceeding, by which time a debtor has already used up most of their assets. Such
company has already lost its place on the market, been abandoned by the company's
best workers, and has not maintained or renewed the equipment. These are all
indicators of the company's need of fresh capital required for effective reorganization.
Reorganization provides the debtor with an opportunity to ''revive'', provided that
reorganization has to be cost-efficient for the creditors, who will make decision on the
course of action, toward insolvency or bankruptcy. Bankruptcy proceeding should be
completed with as low costs as possible, as soon as possible and as effective outcomes
as possible in order to ensure a regular economic course. The legal system can
generate fundamental risk factors for bankruptcy, whereby not only regulations but
rather implementation of the law are involved. Duration and costs of a bankruptcy
proceeding, and sometimes incompetent bankruptcy administrators and other people
involved in the proceeding can add to the debtor's bad position and further deepen
insolvency of the business entities involved. Bankruptcy reorganization also affects
existing agreements between the debtor and creditors but measures affecting rights of
the owner of all the debtor’s assets may also apply, which essentially includes their
private property. The aim is to sustain functioning of the business entity as a unit
including all its business relationships and employees because this can assign the
business entity the value higher than the value of individual sales of the debtor’s assets.