Recognizing the Ruling of a Court in Bosnia and Herzegovina on Initiating Bankruptcy Proceedings in the Republic of Croatia

In the area of international bankruptcies, the proposal to recognize a foreign ruling on the opening of bankruptcy proceedings has a special place. It is doubtless that there has to be a ruling by a foreign court or another competent authority on the opening of bankruptcy proceedings over a bankruptcy debtor. The concrete case under consideration involves the proposal by the official receiver of a debtor in Bosnia and Herzegovina to the Croatian bankruptcy court, which includes claims that the debtor has known property in the Republic of Croatia. The proposer submitted some other documents, in the belief that all the requirements have been met. Furthermore, the receiver invoked the Annex to the Dayton peace Agreement. The competent court in Croatia first considered the formal legal requirements. The reasons for dismissal were explained as the established omissions were not remedied during the procedure. Since this is an effective ruling of a Croatian bankruptcy court, the argument can be used as a basis for court practic