Unraveling the Enigma of Low Bankruptcy Cases in Kosovo: A Multifaceted Examination of Legal, Cultural, and Rule of Law Factors

Session

LAW

Description

Despite the apparent financial distress faced by numerous companies in Kosovo, the occurrence of bankruptcy cases remains disproportionately low, leaving creditors unpaid and raising questions about the adequacy of the existing legal, cultural, and rule of law frameworks. This research paper undertakes a comprehensive investigation to decipher the multifaceted causes contributing to this issue. To unravel this enigma, the research delves into the intricate interplay of various factors. It scrutinizes the legislative framework governing bankruptcy in Kosovo, critically assessing its adequacy and effectiveness. Through a thorough examination of bankruptcy laws, regulations, and court practices, the paper identifies potential legal barriers and procedural complexities that may dissuade companies and creditors from pursuing bankruptcy proceedings.Moreover, the paper evaluates the role of the rule of law in Kosovo, scrutinizing its impact on the enforcement of creditors' rights and the efficacy of the legal system. It investigates issues related to judicial independence, enforcement mechanisms, and the overall reliability of the legal system in addressing insolvency matter. By conducting in-depth interviews, surveys, and case studies involving key stakeholders, this research endeavors to provide a holistic understanding of the factors underpinning the low incidence of bankruptcy cases in Kosovo. This research serves as a valuable resource for policymakers, legal practitioners, scholars, and stakeholders seeking to address the challenges surrounding bankruptcy in Kosovo and foster economic growth and stability.

Keywords:

bankruptcy, creditors, rule of law, companies.

Proceedings Editor

Edmond Hajrizi

ISBN

978-9951-550-95-6

Location

UBT Lipjan, Kosovo

Start Date

28-10-2023 8:00 AM

End Date

29-10-2023 6:00 PM

DOI

10.33107/ubt-ic.2023.145

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Oct 28th, 8:00 AM Oct 29th, 6:00 PM

Unraveling the Enigma of Low Bankruptcy Cases in Kosovo: A Multifaceted Examination of Legal, Cultural, and Rule of Law Factors

UBT Lipjan, Kosovo

Despite the apparent financial distress faced by numerous companies in Kosovo, the occurrence of bankruptcy cases remains disproportionately low, leaving creditors unpaid and raising questions about the adequacy of the existing legal, cultural, and rule of law frameworks. This research paper undertakes a comprehensive investigation to decipher the multifaceted causes contributing to this issue. To unravel this enigma, the research delves into the intricate interplay of various factors. It scrutinizes the legislative framework governing bankruptcy in Kosovo, critically assessing its adequacy and effectiveness. Through a thorough examination of bankruptcy laws, regulations, and court practices, the paper identifies potential legal barriers and procedural complexities that may dissuade companies and creditors from pursuing bankruptcy proceedings.Moreover, the paper evaluates the role of the rule of law in Kosovo, scrutinizing its impact on the enforcement of creditors' rights and the efficacy of the legal system. It investigates issues related to judicial independence, enforcement mechanisms, and the overall reliability of the legal system in addressing insolvency matter. By conducting in-depth interviews, surveys, and case studies involving key stakeholders, this research endeavors to provide a holistic understanding of the factors underpinning the low incidence of bankruptcy cases in Kosovo. This research serves as a valuable resource for policymakers, legal practitioners, scholars, and stakeholders seeking to address the challenges surrounding bankruptcy in Kosovo and foster economic growth and stability.