After Romania joined the European Union in 2007, wide-reaching reforms were implemented to the country’s civil, criminal and commercial legal codes. While acknowledging positive development in the judicial sector, concerns remain over the lack of predictability of judicial decisions, including contradictory judgements and inconsistency in the administration of justice.
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.
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IDLO organized a roundtable discussion in Dushanbe, Tajikistan on 21 February to present its functional analysis on the bailiff system in Tajikistan.
Asset recovery remains high on the global agenda.
Alternative dispute resolution (ADR), and in particular mediation, is well established in developed economies and becoming increasingly popular in transition countries. For any court system, mediation can substantially reduce caseload burdens, improve clearance rates, and raise efficiency in the administration of justice.
IDLO and the European Bank for Reconstruction and Development (EBRD) hosted a three-day Judicial Conference on Insolvency Matters in Croatia from 25 to 27 October, in partnership with the Croatian Judicial Training Academy and High Commercial Court of Croatia.
Under this new Programme, IDLO will provide support to LDC governments and businesses by enlisting experts to assist beneficiaries in preparing for and conducting negotiations and participating in arbitral proceedings or alternative dispute resolution methods. The Programme will also arrange complementary training and capacity building activities on demand.
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.
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.