Project kick-off meeting held for Data collection on the performance of procedures concerning restructuring, insolvency and discharge of debt
On 22nd of September 2021, a kick-off meeting was held within the project Data collection on the performance of procedures concerning restructuring, insolvency and discharge of debt, financed through Technical Support Instrument. During the meeting, a timetable for implementation and deadlines for the delivery of results were agreed.
MJPA received EU’s support to address the identified shortcomings of the Croatian insolvency framework towards meeting the requirements of EU Directive on Restructuring and Insolvency and ultimately improve the efficiency of court proceedings. The project will improve the process of data collection in insolvency, pre-insolvency and debt relief proceedings by:
- developing a methodology for collecting additional data in these proceedings in order to monitor their effectiveness (additional data set will include data on the average cost of each type of procedure; average recovery rates for secured and unsecured creditors and for other types of creditors, separately; number of entrepreneurs who started a new business having gone through the procedure that led to the debt forgiveness, and the number of lost jobs associated with these procedures),
- develop technical specifications for the digitization of the data collection process and
- create a basis for the establishment of a centralized system for data collection in these procedures.
The project is funded by the European Union under the Technical Support Instrument, in cooperation with the Directorate-General for Structural Reform Support of the European Commission. The Technical Support Instrument is an EU program that provides Member States with tailored technical expertise to design and implement reforms. The aid is demand-driven and does not require co-financing from Member States. The TSI provides unique assistance to Member States in meeting the challenges of reform.