Academicus International Scientific Journal

Title:
The Bankruptcy according the Albanian law - Effects of practice and legal framework in setting up a structured system of Bankruptcy administration  

Author(s):
Doctoral Candidate Altina Xhoxhaj
altinaxh@yahoo.com
Judge, Constitutional Court of Albania. Magistrate School of Albania, Tirana, Albania

Abstract:
The aim of this article is to present the concept of bankruptcy as a legal judicial procedure to be followed in case that the legal or natural person becomes insolvent. The paper is focused on the meaning of bankruptcy, the subjects of bankruptcy proceedings, causes for the opening of this proceeding, the competent court and its decision according to the law no.8901, dated 23.05.2002 “On bankruptcy” published in official Journal nr.31/2002. These article deals also with the organs of bankruptcy proceedings, administrator, meeting of creditors and methods of the conclusion of bankruptcy proceedings. A brief description of debtor’s possibilities during bankruptcy proceedings is given also in article. It deals with debtor’s closeout, rehabilitation/reorganization of the company and debtor’s liquidation. However, it should be noted that the bankruptcy procedure is a procedure not very widespread in our country, that due to the small number of cases before our courts. It also has to do with the fact that subjects rarely addressed the court.

Keywords:
bankruptcy administrator, insolvent, debtor, creditor, reorganization of the company, debtor’s liquidation

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The article's content ©Academicus™ The Bankruptcy according the Albanian law - Effects of practice and legal framework in setting up a structured system of Bankruptcy administration by Doctoral Candidate Altina Xhoxhaj is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.

Presented: October 2012
Included for Publishing: December 2012
Published: January 2013, Volume 4, Issue 7

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