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Enforcement proceedings in Croatia- advantages and disadvantages

In the last few years insolvency is very high in Croatia and it increases constantly. In July 2010, there were 140.284 registered companies in Croatia, and 30.500 of them were insolvent (approx. 30% more than in 2009). When it comes to natural persons like craftsmen situation is no better- in the same year there were 39.718 insolvent craftsmen. In the structure of accrued liabilities three groups of occupations are prevailing: commerce, architecture and processing industry. On the other hand, more than 3 million people are in some sort of debt, being guarantor or borrower.

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