Open AccessREDEFINING THE CLASSIC CONCEPT OF THE COURT? -RESPONSES TO THE CORPORATE SOLVENCY PROBLEM IN THE ONGOING COVID-19 CRISIS
Author(s) -
Dejan Bodul
Publication year - 2021
Publication title -
eu and comparative law issues and challenges series
Language(s) - English
Resource type - Conference proceedings
ISSN - 2459-9425
DOI - 10.25234/eclic/18315
Subject(s) - solvency , insolvency , bankruptcy , market liquidity , enforcement , business , agency (philosophy) , law and economics , legislature , intervention (counseling) , state (computer science) , accounting , economics , law , political science , finance , sociology , psychology , psychiatry , algorithm , computer science , social science
The coronavirus pandemic is pushing large number of firms towards insolvency by dramatically changing consumption patterns and business operations. The first wave of liquidity-focused policy responses (Act on Intervention Measures in Enforcement and Insolvency Proceedings for Duration of Special Circumstances) prevented or delayed more severe consequences for the corporate sector. While some liquidity support is still needed, the crucial issue that must be tackled now is that of corporate solvency. This paper addresses the role of the Financial Agency (hereinafter: FINA), which, as a legal entity with public authority, has (in)appropriate legal authority in bankruptcy proceedings over the rights of entities. As in the previous paper, a multidisciplinary scientific approach is advocated, which should contribute to the consideration of various aspects of the relationship between FINA, the state, the judiciary and the current tendency of Dejudicijalization.