TOWARDS THE EUROPEAN INSOLVENCY LAW HARMONISATION IN THE CONTEXT OF CLUSTER ANALYSIS

The issue of bankruptcy law is becoming an increasingly discussed not only by lawyers but also by economists in European Union context. The reason is the proof of the relationship between the quality of bankruptcy law and the dynamics of the economy. This is why the activities leading to harmonization of bankruptcy law accelerated in the context of EU. Given that the bankruptcy laws of individual member states are more divergent than convergent, it is essential to accept existing peculiarities in the process of an optimal European bankruptcy law creation. We consider that it is appropriate to base the creation of the single European bankruptcy law solution on the particularities and experiences of those countries that have the highest bankruptcy law quality among them similar. Detection of these countries can be based on the cluster analysis and subsequent selection analysis. The aim of the paper is to present the results of these analyzes which result to the detection of bankruptcy laws with highest quality which particularities should be taken into account within the realized legislative activities in order to create an effective single EU bankruptcy law.