IDLO and the European Bank for Reconstruction and Development (EBRD) hosted a three-day Judicial Conference on Insolvency Matters in Croatia from 25 to 27 October, in partnership with the Croatian Judicial Training Academy and High Commercial Court of Croatia.
After emerging from years of war in the Balkans, and following almost a decade of accession talks, Croatia became the second nation in the former Yugoslavia to join the European Union as its 28th member in 2013. With increased tourism and access to the EU’s markets, the country started showing signs of economic growth in 2015 after years of protracted recession. However, Croatia continues to face critical challenges with high unemployment rates, a difficult investment climate and slower regional development.
In order to maintain and build on this progress, Croatia needs to bolster its judiciary and legal frameworks to promote continued stability, growth and development in the country.
Croatia has eight first instance commercial courts and one High Commercial Court, and is committed to raising the capacity of its commercial court judges to resolve cases related to insolvency matters. The Judicial Training Academy has incorporated insolvency training into its annual program almost every year since 2010. However, there is still more progress to be made, especially regarding impediments to the resolution of non-performing loans which highlights the importance of the legal framework on insolvency law.