THE BANKRUPTCY DRAFT LAW OF THE FEDERATION OF BOSNIA AND HERZEGOVINA

The Law on Bankruptcy Proceedings, which is in effect in the Federation of Bosnia and Herzegovina, was passed in 2003 and has undergone two insignificant changes and amendments, while the economic conditions have significantly changed. New circumstances in the development of the economic business impose on the need for passing new legal solutions, stressing the affirmation of reviving lapsed economic entities. This is visible in the suggested legal text by implementing completely new legal provisions about the economic entity reconstruction through a pre-bankruptcy proceeding. Its implementation is supposed to lead to the removal of the very clear problems in the business of the economic entity.