Abstract

The publication has been devoted to the chief objectives, functions and rules of the restructuring law. As intended by the legislator the law is to meet four objectives, namely with respect rehabilitation, debt collection, prevention and education. The main instrument for the implementation of the above objectives is the institution of arrangement, which may be concluded under one of four available restructuring procedures. It should be noted that the implementation of the rehabilitation objective does not exclude others since they are all closely interconnected.

The restructuring law has been based on two fundamental principles, i.e. the principle of protection of legitimate rights of debtors and the principle of domination of the group interest of creditors. The above principles are consequent of the objectives aimed at by the legislator through the norms of the restructuring law. Moreover, the literature on the subject distinguishes the principle of conciliatory resolution of conflicts of interests and the principles of respect for the concerted will of the debtors and the creditors.