Law Reformation of Economic and Bankrupting Policy, under the Framework of European Integration

Abstract

Bankruptcy represents inability of legal or phisic person to pay their dues at the time specified. The collapse can lead to bankruptcy procedure, which will be taken legal action where the assets may be liquidated to pay outstanding debts.Today business and finance indisputably are global. The financial and capital markets are more globally integrated and move much more rapidly in response to events. As a result, many financial institutions and activities that once were local are now international. The changes in the international financial system have been driven by deregulation, by improvements in communications, by technological changes that have increased the speed and volume of transactions enormously, and by widespread innovation in markets, organizational structures, services and instruments. Often overlooked in the debate over globalization, however, is that smaller businesses and financial institutions participate in global trade and finance on an unprecedented scale.In this paper research we are trying to analyze the benkrupting in Albania and Macedonia benking system.

DOI: 10.5901/mjss.2013.v4n4p163