International Development Law Organization

Commercial Law

Commercial law is one of the main deficit areas in transition economies and in countries seeking to move up the economic value chain. Globalization has vastly expanded the need for competence in this field. A sound knowledge and practice of commercial law facilitates economic integration. It enables poorer nations to secure better terms in international or bilateral trade agreements, and empowers resource-rich ones to handle large foreign investment flows. Where investment is scarce, commercial law capacity encourages it by improving the overall business climate.

Handling insolvency cases in Croatia

Croatia has eight first instance commercial courts and one High Commercial Court, and is committed to raising the capacity of its commercial court judges to resolve cases related to insolvency matters. The Judicial Training Academy has incorporated insolvency training into its annual program almost every year since 2010. However, there is still more progress to be made, especially regarding impediments to the resolution of non-performing loans which highlights the importance of the legal framework on insolvency law.

Building the capacity of the justice sector in Tajikistan

The economy and banking sectors of Tajikistan face a number of factors affecting the country’s business environment, including high interest rates and weak enforcement. At the core of the banking crisis is the fact that banks do not use the judiciary to support the enforcement of contracts. This in turn affects the construction sector, which, despite the challenging banking environment, is experiencing considerable growth. The justice system in its current condition is not able to address the construction sector disputes that inevitably surface as the sector expands.

Pages

Subscribe to RSS - Commercial Law