Advantages and disadvantages of German consumer bankruptcy model: Guidelines for Croatian lawmaker

Legal transplant, as a legal phenomenon, has always been present in legal history, and was especially brought to the fore in terms of creating major economic integrations, such as the European Union (EU). Membership of the Republic of Croatia in the EU has its strong legal basis because it belongs to the continental law school initially based on the reception of Roman law, and later German law. The Croatian academic community believes that the harmonization of bankruptcy and legal regulations with the EU laws is not a goal in itself, but has a strong economic rationale. In this context, a number of ambiguities in the current bankruptcy legislation are indicated, one of them being the absence of lex specialis regulations for consumer bankruptcy. As the legislator showed an initiative for the reception of a model of consumer bankruptcy (the Foundation for the Introduction of Personal Bankruptcy, Ministry of Justice, Zagreb, 2012, pp. 1-6, and Draft Proposal of the Statement of the Regulatory Impact Assessment for the Preparation of the Draft of the Consumer Bankruptcy Law Proposal, Ministry of Justice, Zagreb, 2012, pp. 1-5 and finally Draft of the Consumer Bankruptcy Law Proposal, Ministry of Justice, Zagreb, June 2014) modeled on German legal solutions, the authors analyze the justification of such regulation in this paper