After successfully completing the course, students will be able to:
Knowledge
- define basic principles of insolvency law, stages of bankruptcy procedure and basic institutes of bankruptcy i.e. insolvency law
- name standard bodies of bankruptcy i.e. insolvency procedure (court, bankruptcy commissioner, board of creditors, council of creditors)
- indicate legal consequences of initiating bankruptcy or other insolvency procedure, and manners of settling the creditor in these procedures
- list various manners of resolving insolvency of legal subjects and differentiate among special proceedings in which personal management or certain release from remaining obligations of the debtor was determined
- recognise insolvency proceedings with an international element
- recall basic differences in legislative solutions in Croatian, German and American insolvency law
Understanding
- explain aims and the purpose of bankruptcy i.e. insolvency law
- identify reasons for bankruptcy: insolvency, overdebtness, threatening inability for payment of obligations
- describe the course of regular insolvency proceeding and the procedure in which the insolvency plan is made, issued and confirmed
- discuss individual institutes of bankruptcy i.e. insolvency law
- group legal consequences of initiating bankruptcy i.e. insolvency proceedings with regard to their material or procedural character
- report about the most important issues in bankruptcy proceeding and pre-benkruptcy settlement that have to be resolved differently, as well as the need for the introduction of so-called "personal bankruptcy"
Application
- illustrate basic characteristics of bankruptcy proceedings and insolvency proceedings
- apply the norms of bankruptcy i.e. insolvency law
- use basic knowledge acquired in this course in the future bankruptcy or insolvency proceedings in the role of a possible judge, attorney, bankruptcy commissioner, creditor and debtor in domestic and international insolvency proceedings
Analysis
- distinguish among various types of insolvency proceedings and their characteristics
- connect with knowledge from other legal areas - substantive and procedural - with legal effects brought by the initiation of an insolvency proceeding
- examine prerequisites for the recognition of foreign bankruptcy and insolvency proceedings according to autonomous solutions in Croatian legislation and the European regulation on insolvency proceedings
- analyse the norms of bankruptcy i.e. insolvency law and justifiability of individual legal regulations from the theoretical and practical standpoint
Synthesis
- propose an appropriate insolvency law plan for resolving insolvency in a concrete practical case
- draw a proposal for the initiation of a bankruptcy proceeding, claims in bankruptcy proceeding and a basic draft of bankruptcy plan
- formulate the most important shortcomings in Croatian bankruptcy i.e. insolvency law
Evaluation
- assess economic, social and legal acceptability of the valid norms of Croatian bankruptcy i.e. insolvency law
- estimate in which manner should bankruptcy proceeding be regulated for consumers, i.e. personal bankruptcy
- recommend amendments of bankruptcy i.e. insolvency law in line with the needs of Croatian economy and society, while respecting modern trends in this legal area on the ineternational level
After successfully mastering the course, students will be able to:
- understand and apply norms of insolvency law
- discuss and argzment orally and in writing their opinions and consider arguments of people who hold different positions with regard to insolvency law issues
- find pro and con arguments for individual legal solutions
- critically evaluate valid insolvency law solutions, their theoretical justification and their application in couret practice
- take responsibility for participation in bankruptcy procedings and other insolvency procedures
- evaluate the achieved level of ethics in legal solutions and customary respect of ethics in the implementation of bankruptcy and other insolvency procedures in practice